Tampa developer makes $70 million land buy in Pasco County
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 26, 2021

A Tampa developer has acquired 3,400 acres in southeastern Pasco County, with plans to build thousands of new homes and more than 3 million square feet of commercial space.

Eisenhower Property Group paid $70 million for the land assemblage that will become master-planned community Two Rivers in a deal that closed Oct. 22, according to Pasco property records. The Two Rivers assemblage straddles State Road 56 and spans from west of Gall Boulevard to east of Morris Bridge Road. Pasco County commissioners approved plans for the property on Sept. 15.

Eisenhower President Jeff Hills declined comment Tuesday.

Here's a breakdown of what Eisenhower is planning, according to county documents:

6,400 residential units

1.335 million square feet of office space

1.355 million square feet of industrial space

670,000 square feet of retail space

"I think that sale just validates the Wesley Chapel submarket," said Ryan Sampson, managing principal of Eshenbaugh Land Co.

SR 56 was extended by seven miles to the east two years ago, Sampson said, opening up access to 15,000 acres.

"All of that has been sold to homebuilders," Sampson said.

The Two Rivers property, Sampson said, "was the last piece" of land opened up by the SR 56 extension.

"That’s where all the growth is going to be," he said, "in Wesley Chapel, east of Wiregrass."