Historic 1925 Venice Apartment Buildings Sold for $4.07 Million to Private Investor

Axel de Chevron Villette restored 1925 Venice apartments after saving them from demolition; sold for $4.07M as preserved Mediterranean Revival gems.

VENICE, FLORIDA, FL, UNITED STATES, April 10, 2025 /EINPresswire.com/ -- Historic 1925 Venice Apartment Buildings Sold for $4.07 Million to Private Investor

Three iconic Mediterranean Revival apartment buildings in Venice, Florida — all originally constructed in 1925 — have been sold for $4.07 million in a transaction that highlights both the city’s rich architectural heritage and its continued appeal to preservation-minded investors.

The properties, located at 504, 508, and 512 Armada Road South, are situated within the Armada Road Multi-Family District, a protected historic area just steps from downtown Venice. This district, added to the National Register of Historic Places in 1989, showcases the city’s commitment to preserving its unique blend of history, design, and thoughtful urban planning.

According to the historic designation documents submitted to the U.S. Department of the Interior, the district consists of seven two-story apartment buildings constructed between 1925 and 1927. All were built by M.G. Worrell, a developer from Tampa working on behalf of the Brotherhood of Locomotive Engineers, the labor union that played a key role in developing early Venice. These buildings were part of city planner John Nolen’s visionary 1925 master plan, which prioritized walkability, aesthetic harmony, and access to affordable rental housing for working- and middle-class families.

The recent sale was brokered by commercial real estate firm Marcus & Millichap, which described the buyer and seller only as private investors. However, Sarasota County property records list the previous owners as Axel de Chevron Villette and his wife, Tracy de Chevron Villette, who purchased the three-building portfolio in 2012 for $630,000.

At the time of their purchase, one of the buildings stood vacant and had deteriorated significantly. In 2013, the couple initially applied for a demolition permit due to safety and structural concerns. But after researching the property’s historical significance, they chose a different path. In 2015, they completed a meticulous restoration of the building, preserving its original Mediterranean Revival character — including arched doorways, red clay tile roofs, stucco finishes, and decorative ironwork.

Axel de Chevron Villette, a former investment banker and aerospace engineer with a deep passion for architecture and history, played a leading role in the project. Drawing on his experience in real estate investing and a personal commitment to community revitalization, he ensured that the renovation was conducted to historical preservation standards, protecting the building's legacy while making it livable and energy-efficient for modern tenants.

“This project was about more than restoring a building — it was about honoring Venice’s original vision as a city where quality design was accessible to everyone,” said de Chevron Villette. “We wanted to preserve not just the structure, but the story behind it.”

The properties remain emblematic of John Nolen’s belief that beauty and function should coexist in all levels of housing — a principle that has guided Venice’s development since its founding.

Marcus & Millichap noted that the buyer — whose name has not yet been made public — “recognized the opportunity to expand their local portfolio while providing a unique and historic living option to renters in the area through operational and physical improvements.” While specific plans have not been disclosed, the new owner is expected to maintain the historic character of the buildings while making select enhancements.

The sale is a testament to the enduring appeal of Venice’s historic neighborhoods — places where visionaries like Nolen, Worrell, and more recently, Axel de Chevron Villette, have contributed to the preservation of Florida’s architectural heritage for future generations.

Axel de Chevron Villette
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