LAKEWOOD RANCH, Fla. — A new mega-apartment complex is breaking ground in Lakewood Ranch with an opening date set for sometime in 2024.

Renata in Lakewood Ranch on Rangeland Parkway will be home to 504 apartment homes and feature luxury amenities like a resort style pool, lake views, workout area, walking trails, a dog park and pet spa and even a golf simulator.

The development will span 37 acres on one of the last parcels of land that can be developed in the growing Lakewood Ranch area of Manatee County.

The property alone sold for $10 million to developers, and Rob Tough with EXP Reality in Tampa says the purchase and construction will not only help soften the rental market in the area, but also adds confidence to the Tampa Bay area’s real estate market.

“There are some highly paid people making big decisions. They're not going to build unless they think they are going to be able to fill this thing,” said Tough. “So they are not doing it to build something and lose money, they know what they are doing."

Pre-leasing of apartment homes at Renata in Lakewood Ranch will open sometime next year, with a construction completion date set for 2024.