Raymond James has finally completed the purchase of 65 acres for expansion. Five years ago the diversified holdings company announced plans to build a complex in the Wiregrass Ranch development in Wesley Chapel. This is a community of over 44,000 people in Pasco County, Florida, just a few minutes north of Tampa. It has seen considerable growth over the past fifteen years, and Raymond James maintains that their new development will bring 750 jobs to the area.
Tampa-based Raymond James Financial was founded in 1962 by St. Petersburg’s Robert James, who partnered with Edward Raymond in 1963 to create the present firm. It provides financial services such as investment strategies, financial planning, and asset management to both individuals and organizations through its subsidiary companies.
Wesley Chapel is a relatively small area of 6.1 square miles, but provides easy access to Interstates 75 and 275, while being just 25 miles north of downtown Tampa. It features a number of luxury communities as well as the Saddlebrook tennis resort. The community provides many business and shopping opportunities along the busy State Road 54 corridor, while still retaining some scenic country living in surrounding areas.
Wiregrass Ranch is an ambitious development project initiated in 2011 to create a projected community of over 10,000 homes. The development includes retail and medical facilities as well as schools and an 18-hole golf course. The new Raymond James offices will be located at the corner of SR 56 and Mansfield Boulevard, just east of the Wiregrass mall. The price of the real estate purchase is still as yet undisclosed.
According to J.D. Porter of Wiregrass Ranch, the sale closed September 29th, only two days after Pasco County adjusted its incentives contract with Raymond James and Wiregrass Ranch, Inc. These incentives amount to $14 million for Pasco County and the state of Florida. This removed an existing deadline for the start of construction. However, Raymond James has not yet revealed when the actual construction will begin.
The U.S. Army Corps of Engineers has already issued an environmental permit. Approved plans include six four-story buildings at a total of one million square feet, along with a parking garage. Porter expects that other interests will follow Raymond James’ lead and more development will follow as Wesley Chapel continues to grow.
If you are interested in information on homes for sale in Pasco County, FL, or any real estate in the Tampa Bay area, please contact Rose & Joe LoCicero at (813) 435-5411 or start your home search now.