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DHI Communities Snags Residential Development Site in Wesley Chapel for $10M

DHI Communities, the multifamily division of national homebuilder D.R. Horton, has purchased 34 acres of land in Wesley Chapel, FL. The sales price was $9.5 million.

The parcel, which is planned for a residential development is located just north of Wesley Chapel Boulevard, between Old Pasco Road and Oakley Boulevard. DHI Communities plans to develop an $80-million residential community called Grove West at the site, which is zoned for 330 apartment units and 82 for-sale townhomes. The apartment community will be named Ascend at Grove West and will be DHI Communities’ first multifamily project in the Tampa Bay area.

Mark Eilers of Colliers International represented DHI Communities in the transaction. Jim Krivacs of Procorp Realty represented the seller, Second Base Holdings.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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