MANATEE - Two ongoing housing developments in East Manatee sold off big chunks of lots this week to the homebuilders who will presumably build houses in the near future.
On Feb. 14, The Ryland Group Inc., a subsidiary of California-based homebuilder Ryland Homes, purchased 58 lots in the second phase of GreyHawk Landing for $3.84 million, or more than $66,200 per lot, according to Manatee County records. Ryland is a one of three builders constructing homes in GreyHawk Landing. According to its website, GreyHawk is aiming for a buildout of about 400 homes. The subdivision is between Upper Manatee Road and State Route 64, and is bounded on the west by the Gates Creek neighborhood and on the west by the Mill Creek subdivision.
Patrick Roby, a sales counselor representing Ryland Homes in the GreyHawk development, said four of the lots acquired by Ryland have already sold. He said the first homes will be built about six months from now. The homes on the lots will sell for base prices between $265,000 and $315,000, and range in size from 1,853 and 2,847 square feet.
In a second transaction, this one for $3.5 million Feb. 18, Bradenton-based Newton Development Inc. sold 23 lots to Ashton Tampa Residential LLC, a subsidiary of home builder Ashton Homes. The lots are in the Rosedale Addition, a subdivision along Lakewood Ranch Boulevard. between state routes 64 and 70. The price for each lot adds up to more than $152,000.
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In a third, smaller transaction Feb. 14, CLP Lots LLC, a subsidiary of Sarasota-based Vanguard Realtors, sold nine lots in the Concession development south of State Route 70 to Concession 113 LLC for $1.1 million or about 122,000 a lot. Concession 113 is also a Van
guard Realtors subsidiary. The Concession development is centered around the Concession Golf Club. Homes in the development currently listed for sale on the development's website are priced between $1.4 million and $16.5 million.
The transactions come as the new home market in East Manatee heats up. This week, Scottsdale, Ariz.-based Meritage Homes entered into an agreement to buy 304 acres near the intersection of Lorraine Road and State Route 64. The home builder plans to build 475 homes on the acreage.
Bradenton developer Medallion Home is also preparing to build in the area. It is on the verge of having a site plan approved for its Rye Road Subdivision between Waterline Road and Rye Road. That development would create 152 home sites on about 59 acres.
Demand for homes in the area remains high, with the latest real estate statistics placing the supply of new homes between three and four months. A six-month supply of homes is generally considered average.
Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027, or on Twitter @MattAtBradenton.