EAST MANATEE -- For years, developers wanted to build hundreds of homes on the southeast corner of Interstate 75 and 69th Street East and call it Pennington Park.
Alva Pennington of Palmetto sold the agricultural property for $4.2 million in 2005 to Town & Country Developers of Florida, which planned to build 861 homes there.
But the Great Recession of 2008 intervened, and the homes were never built.
Pennington Park, just north of Palmetto and west of Parrish, is back on the drawing board. A new developer, MB Reo-FL Land LCC of El Segundo, Calif., is proposing to build 486 single-family housing units and 300 multi-family units, plus 100,000 square feet of retail space, large enough to accommodate a supermarket.
"It's the last piece of undeveloped property in that area," Manatee County principal planner Margaret Tusing said Tuesday.
Northern Manatee County has become a hot development area as the local real estate market rebounds after the Great Recession.
Largely rural Moccasin Wallow Road and Buckeye Road have become favorites, in particular, with developers in recent months. They have sought approval to builds thousands of homes in the area.
Several older subdivisions already exist to the east of the Pennington Park proper
ty on 69th Street East, including Heather Glen and Fresh Meadows.
Also in the neighborhood are Virgil Mills Elementary School and Fellowship Alliance Church.
Don Neu, the agent for the Pennington property, said the 441.3-acre parcel is large enough to allow design of a master-planned community.The property is being used for grazing and other farming activities.
Manatee County Planning staff has until July 30 to complete their study of plans and submit their comments.
James A. Jones Jr., East Manatee reporter, can be contacted at 941-745-7053.
or on Twitter @jajones1.