Kruger Group Advances 240-Unit Vela at Cotee River Landing in Port Richey

• Kruger Group is advancing Vela at Cotee River Landing, an 8.5-acre mixed-use project at 7944 Bayview St. in Port Richey.
• The development will deliver 240 residential units, 24,000 square feet of commercial space, and a 33,000-square-foot waterfront boardwalk.
• Kruger Group purchased the mostly vacant assemblage for $15.7 million in early 2025, with construction expected to begin after rezoning approvals.

What Kruger Group Is Planning

Kruger Group, an Ohio-based developer, is moving forward with Vela at Cotee River Landing, a mixed-use waterfront project that will combine apartments, townhomes, commercial space and public greenspace. The first phase is planned for 100 residences, while the second phase would add another 140 residences along with 24,000 square feet of commercial space. In total, the project is expected to include 16 residential buildings and 426 parking spaces. The project is designed by AODK and will also include a swimming pool, clubhouse, approximately 3,700 square feet of event space and 1.7 acres of open space. 

What The Waterfront Components Add

One of the project's defining features is a planned 33,000-square-foot boardwalk along the waterfront. The combination of residential units, retail and public-facing amenities gives the project a broader mixed-use footprint than a conventional apartment development. For investors, the commercial component could also create an additional revenue stream while providing services and amenities for residents. The project is planned on four parcels totaling 8.5 acres, located south of Pasco Way, north of Treadway Drive and east of Millers Bayou.

What The $15.7 Million Land Purchase Means

Kruger Group acquired the mostly vacant property for $15.7 million in early 2025. The purchase gives the developer control of a sizable waterfront assemblage in a market where new residential and mixed-use projects are continuing to expand.  The project still faces a key entitlement step. Rezoning approvals are required before construction can begin, so the planned timeline remains dependent on the local approval process.

What The Timeline Looks Like

Construction is expected to begin next year, with completion of the residential portion targeted for summer 2027 according to the current project plans. The development is being positioned as a multi-phase community rather than a single apartment building.  The combination of 240 residences, 24,000 square feet of commercial space and waterfront amenities gives Kruger Group a sizable new mixed-use project in Port Richey.