LAKEWOOD RANCH -- A Country Club East development partner has purchased a big chunk of the 600 home sites it plans to develop there.
Scottsdale, Ariz. and Lakewood Ranch-based Starwood Land Ventures paid $3 million on Dec. 19 for 21 acres at the eastern terminus of The Masters Avenue in Lakewood Ranch, according to Manatee County land records. Lakewood Ranch master developer Schroeder-Manatee Ranch was the seller. Starwood has a $45 million stake in the success of the luxury East Manatee golf neighborhood.
Carved out of two parcels totaling about 220 acres, the Starwood land will be used to build a maximum of 92 homes, according to a deed on file with Manatee County. Officials at Starwood's Lakewood Ranch offices and at SMR did not immediately respond to requests to comment on a construction schedule or the types of homes to be built on the land.
Starwood inked an agreement with SMR in 2013 under which the company will develop 600 lots across 475 acres in Country Club East. The community, one of 10 villages in Lakewood Ranch, is private and gated. It is built around a golf courses, lakes and ponds and nature preserves.
Homes in Country Club East are priced starting in the $400,000 range, according to the neighborhood's web site.
Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027, or on Twitter@MattAtBradenton.