Neal Communities creating Ridge at Crossing Creek

BUYER: Neal Communities of Southwest Florida LLC (manager: NCDG Management LLC and officers: Michael Storey, James Schier, Priscilla Heim and Michael Greenberg), Sarasota
SELLER: Corona Creekwood LLC
PROPERTY: a portion of East 44th Avenue directly west of Interstate 75, Bradenton
PRICE: $5 million
PREVIOUS PRICE: $896,100, March 2008
LAW FIRM ON DEED: Vogler Ashton, Bradenton

PLANS, DESCRIPTION:
Neal Communities of Southwest Florida Inc. purchased 88.23 acres of vacant land for $5 million.

The price equated to $56,672 per acre.

The property was originally approved for a 468-unit multifamily development, but Neal Communities re-entitled it. The homebuilder plans to create The Ridge at Crossing Creek, a community of 138 single-family detached homes.

The community on Creekwood Boulevard, will be gated and will make use of an existing central lake as an amenity. Homes will offer from 1,700 to 2,500 square feet of living space.

“This will be a part of our Celebration series [home models],” says Leisa Weintraub, vice president marketing creative director for Neal Communities. “We are nearly sold out in Central Park. We are projecting to start there in the fall.”