Neal Communities acquires property in $2.3 million deal from Insignia Bank

HERALD STAFF REPORTJanuary 19, 2013 

EAST MANATEE -- Neal Communities has closed a $2.3 million deal with Insignia Bank for property on the south side of State Road 64 East, about a mile east of Lakewood Ranch Boulevard.

The property, the site of a former mango grove, already has a final site plan approval for 180 paired and single-family homes, said developer Pat Neal.

It's anticipated that construction will start March 1 on the property, which has a working title of Eagle Trace.

Home prices are expected to start at about $170,000, Neal said.

Neal and his father, Paul, started the company in 1970, and have since built more than 8,000 homes, primarily in Manatee and Sarasota counties. Before turning his attention full-time to home-building, Neal was a Florida state senator.

Among Neal's many notable projects are University Park, Central Park and Country Club West at Lakewood Ranch.

Neal Communities recently put its 8,600-square-foot headquarters up for sale or lease, and moved into the 27,000-square-foot Dooley Mack building, also on Lakewood Ranch Boulevard. Neal cited the need for more space in making the move.

Neal also has offices on Lakewood Ranch Main Street.

Bradenton Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service