Wheelock Street Capital today announced the acquisition of approximately 1,080 acres in the Tampa Bay area from the Starkey Family, marking the first closing of a multi-year contract to purchase the 2,500-acre Starkey Ranch.
The Starkey acquisition represents the initial phase of a large-scale master-planned community development on the family’s cattle ranch located on State Road 54 in Pasco County, Florida. Pasco County recently approved the project allowing for the development of 5,050 residential units, 450,000 square feet of retail, office, and medical uses, 300,000 square feet of light industrial uses and 220 hotel rooms. Numerous amenities are planned, including a community center, new elementary and middle schools, and a district sports facility. The location also offers convenient access to the 18,000-acre Jay B. Starkey Wilderness Park, Tampa International Airport, Pinellas County beaches and the Westshore employment district. The project will be managed by Reed Berlinsky of Florida-based Gentry Land Company. Wheelock will begin marketing lots to builders in mid-2013 for delivery in 2014.