Built-to-rent townhouse site in Wesley Chapel purchased by Atlanta builder
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Apr 10, 2023

An Atlanta builder that specializes in built-to-rent housing has acquired more than 48 acres in Wesley Chapel.

ResiBuilt closed on the future site of GroveParc Townhomes, where infrastructure work is complete, JLL Inc. said. South Florida-based Blue Pointe Builders was the seller.

A purchase price for the property was not disclosed, and a deed for the transaction has not yet been filed. A team from JLL’s capital markets investment sales and advisory team — senior director Max La Cava, managing director Zach Nolan and executive managing director Manny de Zarraga — represented Blue Pointe.

GroveParc, directly north of The Grove at Wesley Chapel shopping center and west of Interstate 75, will have 190 townhomes, which will be three- or four-bedroom units with garages. It is scheduled to open in early 2025.

Built-to-rent communities are a hot commodity nationally and throughout the Tampa Bay region. In Wesley Chapel, another built-to-rent project is slated to break ground in the mid- to late second quarter: Hamlet Avalon Park, which will include 260 single-family homes, duplexes and townhomes.

“GroveParc Townhomes is one of the most exciting build-to-rent projects in Florida,” La Cava said in a statement. “It is perfectly positioned to capitalize on the influx of high-paying jobs to Wesley Chapel and offer future residents the best of both worlds — an upscale single-family rental living experience within a 48-acre nature-driven community located adjacent to the action-packed heart of Wesley Chapel.”