One of the last pieces of developable Sarasota land West of I-75 has been bought by British-based homebuilder Taylor Woodrow. The 80 acre site is currently being used for agriculture. Taylor Woodrow plans to build 360 high-end homes on the property in a "Tuscan-Italian" style community.

Taylor Woodrow, with its U.S. headquarters in Bradenton, said the as-yet-unnamed project will be among its top five in North America.

The average home price is slated at $750,000. The property's sale price, $40 million, at $500,000 per acre is one of the highest ever for residential property in Southwest Florida.