Aventon Closes on 19-Acre Wesley Chapel Site for $16.25 Million as Apartment Community Rises
WESLEY CHAPEL / PASCO COUNTY, FL — A 384-unit apartment community already taking shape along State Road 56 now has new paperwork to match the concrete going up on site. Aventon Companies has closed on the 19-Acre Wesley Chapel Site at the southwest corner of State Road 56 and Meadow Pointe Boulevard, paying $16.25 million to finalize ownership of the land beneath its Aventon Wesley Chapel development.
The seller was Clearwater Bay Associates, with Steve Lannon and Lee Arnold of Colliers representing the seller and Eric Joseph of Coldwell Banker NRT representing Aventon in the transaction.
Construction Already Underway
Unlike a typical land deal that kicks off a project, this closing comes after the fact — Aventon broke ground on the site back in July, and the $16.25 million transaction formalizes the company's ownership of land it's already building on. It's the kind of deal that often plays out behind the scenes as developers line up financing and finalize acquisitions mid-construction, rather than before the first shovel goes in the ground.
What's Coming to the Site
When complete, Aventon Wesley Chapel will include six garden-style residential buildings wrapped around a scenic pond, with one-, two- and three-bedroom units available. Planned amenities include a resort-style swimming pool, a 24-hour fitness center, a pet spa, and a clubhouse with dedicated coworking space and social gathering areas.
Leasing is expected to begin in early 2028.
Why It Matters for Wesley Chapel
This marks Aventon's second multifamily community in the area, following Aventon Meadows, which opened nearby on Meadow Pointe Boulevard in 2024. The company has described Wesley Chapel as one of the fastest-growing multifamily submarkets in the Tampa Bay region — and with construction already underway on a project this size, the corridor around SR 56 and Meadow Pointe Boulevard is likely to see steady building activity through the site's 2028 leasing target.
