Minto Communities buys new section of Harbour Isles

BUYER: Minto Bradenton LLC (principals: William Bullock, Michael Belmont and John Carter), Tampa
SELLER: Hayden Lane I Ltd.
PROPERTY: Northern most portion of Perico Island, Bradenton known as Harbour Isles, phase 6A Takedown, in SEC 22 and 27-34S-16E
PRICE: $4.73 million
LAW FIRM ON DEED: Holland & Knight LLP, Orlando

PLANS, DESCRIPTION:
Tampa-based Minto Communities - Florida purchased 35.05 acres on Perico Island for $4.73 million.

The price equated to $134,792 per acre.

The land is the second to last phase of Minto Communities' 686-home Harbour Isles community. The residential builder plans to develop 100 units on the property in eight- to 10-story condominiums starting in 2016.

Mike Belmont, president of Minto Communities-Florida, says the firm chose to acquire the property because of the success of the community at this point.

“We are very pleased with it,” Belmont says. “We have sold more than 200 homes [in Harbour Isles] thus far. We're currently building along the west side of the community.”

The purchase comes shortly after Minto Communities started construction on the two-story, 23,000-square-foot Beach Club amenity center in the community. The Beach Club is scheduled to open in September.