Construction has started on a 384-unit apartment community at State Road 56 and Meadow Pointe Boulevard, one of the busiest intersections in Wesley Chapel and the same corner where crews are about to spend a year rebuilding the merge lanes. Aventon Companies paid $16.25 million for the nearly 20-acre site and broke ground in July. Leasing is expected to begin in early 2028.
The seller was Clearwater Bay Associates, a privately held Florida corporation with land holdings in the area. Steve Lannon and Lee Arnold of Colliers represented the seller. Eric Joseph of Coldwell Banker NRT represented Aventon.
What is going up
The plan calls for six garden-style residential buildings arranged around a pond, with one-, two- and three-bedroom apartments. Amenities include a swimming pool, a 24-hour fitness center, a pet spa and a clubhouse with coworking space and social areas.
| Detail | Figure |
|---|---|
| Apartments | 384 |
| Buildings | 6 |
| Land | Nearly 20 acres |
| Purchase price | $16.25 million |
| Leasing begins | Early 2028 |
It is Aventon's second project in this corridor. The developer built Aventon Meadows, the 360-unit community near State Road 54 and Meadow Pointe Boulevard that opened in 2024, on land also sold by Clearwater Bay. Financing for the new one includes a preferred equity investment from FCP, the Maryland real estate firm, which announced its involvement at the end of July and described Wesley Chapel as one of the Tampa region's fastest-growing residential and employment corridors.
The same corner is a construction zone already
Anyone who sits through the Meadow Pointe Boulevard light on a weekday morning knows the merge onto SR 56 is the pinch point. The Florida Department of Transportation is fixing part of it.
A $19.8 million resurfacing contract started August 25 and runs through fall 2027. It covers SR 56 from Bruce B. Downs Boulevard east to Meadow Pointe Boulevard, about 3.8 miles, plus Bruce B. Downs from SR 56 north to State Road 54, another 3.5 miles. Two separate projects were combined into one contract. Preferred Materials, Inc. is the contractor.
Buried in the scope is the piece that matters most for Meadow Pointe drivers: the state will adjust the merge area and roadway transitions to create two 12-foot lanes to handle the left-turn movements onto SR 56. The work also includes safety improvements at the SR 56 and Bruce B. Downs intersection, signal upgrades, overhead lighting, ADA improvements and minor drainage work.
The timing lines up almost exactly. The road work is scheduled to wrap in fall 2027, a few months before the first apartments are supposed to be ready to lease. Residents can sign up for closure alerts on the FDOT project page.
Where this fits in the corridor
The apartment site sits on the southwest quadrant of the intersection, a larger tract that has been marketed for a mix of uses, with the roughly 20 acres carved out for housing. That quadrant is a short drive from The Shops at Wiregrass, The Grove and Tampa Premium Outlets, and roughly four miles from Interstate 75.
Rents have not been announced, which is normal this far out from a 2028 opening. Neither has a unit mix breaking down how many of the 384 apartments will be three-bedrooms, the size most in demand from families priced out of buying nearby.
What comes next is mostly dirt work: site clearing, stormwater and the pond, then vertical construction on the six buildings. Drivers on SR 56 should expect lane shifts and nighttime work from the resurfacing contract through next year, and construction traffic turning off Meadow Pointe Boulevard on top of it.
For more Wesley Chapel growth and development coverage, visit Wesley Chapel Community Website and browse our business and development stories or the latest local news. Follow us on Facebook, Instagram and X, and tell us how the SR 56 merge is treating you in our Community Forum.
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