ANNA MARIA SOUND -- Minto Communities is continuing to piece together control of Perico Island as part of a $3.8 million deal for its Harbour Isles project.
The Toronto-based developer acquired 14.3 acres on Perico Island Oct. 14 from Hayden Lane I LTD, a company owned by Whiting Preston of Manatee Fruit Farms, according to property records. The sale comes out to $265,734 per acre.
Documents show that the land will be part of a fifth phase for the Harbour Isles development, 12300 Manatee Ave. W. The first phase of the community was sold out featuring Key West style homes from the mid-$300,000s to $400,000. A second phase opened in January with island-style coach homes, and the community already features walking trails, pools with cabanas and fire pit, plus a kayak launch for the mile-long interior man-made lake.
When built out, the development will boast 686 homes, including multiple family units, high-rise units, single-family homes, retail, restaurants, meeting space and a beach club along the Anna Maria Sound shores.
Earlier this year developers were granted an extension for building permits to construct a ship store and marina. Minto purchased the land for $8 million from paper company St. Joe, which acquired the land from Manatee Fruit Farms, and spent $2 million on the marina. St.
Joe was pegged to build Seven Shores in 2007 before the real estate market tanked.
The housing plans didn't sit well with neighbors and environmentalists who wanted to preserve the island's character. A lengthy legal battle, starting with a lawsuit in 2000 and a settlement in 2007, between environmentalists, the developer and several jurisdictions, ended with Manatee County paying $6 million to buy 176 undeveloped acres on Perico Island for a preserve as part of the deal to allow the eventual Harbour Isles project to continue. Perico Preserve, 11700 Manatee Ave. W, is under construction now and will feature a bird rookery island.
The homebuilder also decided to build environmentally friendly homes meeting Leadership in Energy and Environmental Design standards.
Minto picked up land for phase four of the development from Hayden Lane in October 2012 for $3.57 million, according to property records.
Bolletieri sells condo
Tennis coaching legend Nick Bolletieri and his wife Cindi Bolletieri have sold one of their condos in a small deal with a Charleston, W.Va., couple.
Bolletieri's Valencia Gardens condo at 3500 El Conquistador Parkway, Unit 123 for $160,000 to Dr. Ramona Davidson-Dagostine and Timothy Dagostine, according to property records.
Bolletieri bought the two-bedroom, 1,705-square-foot condo for $302,000 in 2005, according to the Manatee County Property Appraiser.
Charles Schelle, business reporter, can be reached at 941-745-7095. Follow him on Twitter @ImYourChuck.