Community Foundation's Investment Arm Lists 301-Acre Property for Sale
Gulf Coast Strategic Investments, part of the Gulf Coast Community Foundation, recently listed a 301-acre mixed-use property for sale for $24.3 million. The land is located near I-75, between Venice's Laurel Road and Border Road. The property is zoned for mixed-use and residential development, with entitlements for up to 1,799 residential units and 225,000 square feet of commercial use. The property includes nine parcels and can be purchased in its entirety or divided. The foundation purchased the land in 2005 for almost $16.1 million and held it as an investment during the great recession. “With the market coming back, it was a good opportunity to explore the option of a sale of the property,” said Mark Pritchett, president of Gulf Coast Strategic Investments, according to a press release.