A 355-unit rental community has been proposed to interchange Kesier University’s Clearwater campus | CoStar
Keiser University’s Clearwater campus would be redeveloped into an rental community below a proposal at the moment being reviewed by the Metropolis of Largo.
North Carolina-basically based Aventon Companies has submitted a preliminary sigh conception application to the town to redevelop the roughly 12-acre property at 16120 U.S. Motorway 19 North staunch into a 355-unit rental community.
The property, which is below contract with Aventon, is owned by Clearwater-basically based Crown Pointe on 19 LLC, an entity managed by Colliers Executive Vice President John Gerlach.
Whether the project indirectly moves forward, nonetheless, stays perilous attributable to ongoing litigation between the university and its landlord.
Basically basically based on a lawsuit filed June 10th in Pinellas County Circuit Court docket, Keiser alleges Crown Pointe improperly terminated its hire in allege to facilitate the sale or redevelopment of the property. The university is on the lookout for to withhold its hire rights while the case proceeds.
The 12-acre Keiser University property at 16120 U.S. Motorway 19 North would be redeveloped staunch into a 355-unit rental community | Google Maps
The proposed redevelopment would replace the prevailing 192,099-square-foot constructing, which used to be constructed in 1985 and has housed Keiser University’s Clearwater campus since 2014, with five five-myth rental constructions.
Basically basically based on preliminary sigh plans ready by Tampa-basically based engineering firm Halff, the residential community would characteristic a clubhouse, resort-model pool, landscaped originate rental, two stormwater ponds, and 556 ground parking spaces.
Approximately 40% of the property would remain originate rental.
The property is designated Residential/Establish of industrial Frequent on Largo’s Future Land Use Scheme and is located all the device by the Largo Tri-Metropolis Activity Heart.
The proposal shall be introduced at some stage in a neighborhood assembly July Twenty ninth at Largo Metropolis Hall.
Crown Pointe bought the property for $14.1 million in April 2023.
On the time, the constructing used to be occupied by Keiser University and buyer provider and technology company 24-7 Intouch, which moved out of the constructing final year.
Assign Idea for a proposed rental community by Aventon Companies at 16120 U.S. Motorway 19 North in Largo | Halff
Possession said it planned to renovate the property and continue operating it as an sigh of industrial and tutorial campus earlier than the novel redevelopment proposal emerged.
If Aventon Largo involves fruition, the advanced would possibly maybe be the most modern addition to Aventon Companies’ increasing $2 billion portfolio of traits and 9,000 Aventon-branded rental properties in Florida, Georgia, the Carolinas, and the Mid-Atlantic.
Local traits comprise Aventon Meadows, a 360-unit community in Wesley Chapel that opened in 2024, and Aventon Lana, a 396-unit rental community carried out along U.S. Motorway 19 in Clearwater in 2023.
GID Valid Estate Investments obtained the Clearwater property for $89.74 million in 2024 and renamed it Windsor Clearwater Apartments.
The company would possibly maybe presumably well be creating a 270-unit rental community in Fresh Port Richey that is anticipated to originate in 2027.
Representatives for Aventon Companies and Crown Pointe did now now not answer to requests for comment.
The proposed redevelopment would replace the prevailing 192,099-square-foot constructing, which used to be constructed in 1985 and has housed Keiser University’s Clearwater campus since 2014 | CoStar
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