A developer that wanted to add another recreational vehicle park to State Road 54 just west of Zephyrhills has been convinced to build a new apartment complex instead.
Terrace Investors LLC wants the Pasco County Commission to rezone a 14-acre piece of property on New River Road next to Terrace Park Mobile Home Park, so that it can build a 228-unit project.
Details of the project itself were not available, but the rezoning would allow Terrace Investors to build up to 335 units. The company reportedly made the adjustment to apartments in-line with the county’s vision to construct more dense, vertical non-residential development as well as sophisticated residential development in that region.
Terrace Investors bought the vacant land in 1999 for $240,000, according to the Pasco County Property Appraiser. The company is owned by Steve McConihay, according to state corporation records, who in 2012 proposed to replace a 138-lot RV park with a 230-unit apartment complex in Largo, according to published reports.
His new project there, called Boulevard Apartments, secured $30 million in financing just last month. That funding announcement included a note that the developer, McConihay, was looking to develop “several other” in-fill locations with high-end apartments.
Last September, the land owner had proposed to build New River RV Resort on the land near Zephyrhills, which would have offered 137 lots.
The commission is set to review the proposal during its meeting Tuesday morning in Dade City.