Business

Neal Communities expanding south

MANATEE — Neal Communities, one of the area’s largest home builders, will expand into Lee and Collier counties — the epicenter of Florida’s housing market, the company announced today.

Neal will joined Cameratta Companies to develop a project on Three Oaks Parkway in Estero slated for 120 paired villas, that will range in size from 1,400 to 1,550 square feet. A tentative opening is planned for early 2013.

Neal Communities President, Pat Neal, also is in negotiations to buy additional parcels of land in Fort Myers and Naples market this year, with hopes to develop there as well.

While all operations will initially be run through Neal Communities’ current headquarters in Manatee, the company is planning to open a regional office in Lee or Collier county within the next six months.

“I have found over the past 40 plus years that there can be enormous opportunity following challenging times,” Neal said. “By operating on a cash-system, we have been able to be both strategic and calculated in our projects and land purchases and leverage these to deliver quality home building at market-driven points.”

Josh Salman, Herald business writer, can be reached at 941-745-7095.

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