Lakewood Ranch-based Neal Communities has acquired 500 acres east of Interstate 75 in south Sarasota County. The builder paid $20 million for the land on which it will develop a new scheme to be called Grand Lakes. Neal Communities was turned down by the county to build on the site four months after county commissioners denied a component of an initial application that swayed from Sarasota 2050’s full affordable housing requirement. The builder has committed to include plans for more affordable housing. Sarasota 2050 is a voluntary development process that allows property owners to add more density to proposals located east of I-75, with regulations intended to promote walkable, environmentally-friendly developments.
