Aventon buys Wesley Chapel site for 384 apartments

Aventon Companies has paid $16.25 million for land in Wesley Chapel, Florida. The parcel spans nearly 20 acres. It sits at State Road 56 and Meadow Pointe Boulevard. Clearwater Bay Associates sold the property; the privately held Florida corporation has land holdings, property management and farming interests. Aventon plans 384 apartments there. The price works out to roughly $42,300 per planned unit, a cost that will factor into the project's overall budget. Colliers' Steve Lannon and Lee Arnold represented the seller, and Eric Joseph of Coldwell Banker NRT represented Aventon. Connect CRE first reported the transaction.

Construction is already underway; Aventon broke ground on Aventon Wesley Chapel in July. The garden-style community will have six residential buildings arranged around a pond. The units will include one-, two- and three-bedroom apartments. Planned amenities include a swimming pool, a 24-hour fitness center, a pet spa, and a resident clubhouse with coworking space and social areas. Leasing is expected to begin in early 2028. That gives the developer a construction schedule of about 18 months.

The earlier Clearwater Bay sale to Aventon, near State Road 54 and Meadow Pointe Boulevard, became Aventon Meadows. That community opened in 2024 and is now operating. The operating community gives the seller a reference point for the second transaction. The repeat pairing has produced two projects, each on a different corridor in the same suburb. For Clearwater Bay, the sales turn land holdings into income-producing housing. For Aventon, they supply a second development site without a new seller search. Next to the $450 million tri-state portfolio sale covered earlier this week, this deal is modest. But a deal this size is how suburban apartment ground gets assembled—one parcel, one buyer, one seller at a time.