Homebuilder John Neal, wife donate Wares Creek property to city

BUYER: City of Bradenton, Bradenton

SELLER: Extended Investment Holdings LLC

PROPERTY: 1723, 1623, 1625 and 1630 W. Eighth Ave., 1810, 1820 and 1822 W. Ninth Ave. and 1720, 1732, 1734 and 1740 Ballard Park Drive, Bradenton

PRICE: $1.33 million (includes a donation)

PREVIOUS PRICE: $121,000 and $148,000, April 2011

LAW FIRM ON DEED: Vogler Ashton, Bradenton

PLANS, DESCRIPTION: The city of Bradenton purchased seven residential parcels on Wares Creek from homebuilder John Neal and his wife, Rebecca Neal, for $284,661. The Neals contributed the remaining $1.04 million of the assessed value of the property as a donation to the city. The only condition of the sale, according to John Neal, was naming rights if the city develops a park or rowing facility on the property.

“I had bought the property on a whim,” John Neal says. “I figured if I could build even four houses on it I could make a profit. A lot of the name will depend on what it becomes. We could name it for ourselves or our foundation or as a memorial for someone.”

Neal says he agreed with the city that the property would be best served as good transitional space for the adjacent neighborhoods.

John Neal Homes is currently building in Lakewood Ranch, Legends Bay, The Forest, Riva Isle and on privately owned lots in Bradenton, Venice, Parrish, Siesta Key and Freeport, Bahamas.