Regency at Waterset is a new Toll Brothers 55+ community in Apollo Beach, Florida, and it's one of the more thoughtfully located active-adult developments to open in the Tampa Bay area in years. Thirty minutes from downtown Tampa and about 45 minutes from Sarasota and Anna Maria Island, it sits inside the established Waterset master-planned community rather than out on its own in a rural corridor.
What Regency at Waterset looks like at build-out
The community will have 570 homes when complete. Phase 1 includes 187 homes, with a mix of low-maintenance villas and larger single-family homes. Toll Brothers is the builder, so the fit and finish skews toward the higher end: natural gas throughout, tankless water heaters, and impact-resistant glass windows and doors are all standard. Black aluminum personal fencing is permitted, which matters if you have a dog or want a defined backyard.
One detail worth noting: the community is not located in a flood zone. For buyers moving to Hillsborough County from out of state, that's a meaningful distinction that directly affects insurance costs.
The Cove: the private amenity center for residents
The residents-only amenity center is called The Cove, and it's the centerpiece of daily life here. Five pickleball courts, a resort-style pool with lap lanes and a tanning shelf, a 24-hour fitness center, a group fitness studio, a game room with a pool table and shuffleboard, a bocce ball lawn, and a covered outdoor kitchen with a large lawn area for events. The space is private to Regency residents and separate from the broader Waterset community amenities, so it won't feel like you're sharing a gym with a neighborhood of all ages.
HOA fees, CDD fees, and lot premiums at Regency at Waterset
This is where buyers need to pay close attention, because there are a few line items beyond the base home price.
- Villa HOA: $464 per month, which covers lawn care, pest control, exterior paint, and roof maintenance
- Single-family HOA: $369 per month (roof and exterior paint maintenance are the homeowner's responsibility)
- CDD fee for villas: approximately $1,500 per year
- CDD fee for 2-car single-family homes: approximately $2,100 per year
- CDD fee for 3-car single-family homes: approximately $2,500 per year
- Lot premiums for 2-car garage homes: $30,000 to $65,000
- Lot premiums for 3-car garage homes: $60,000 to $90,000
- Villa lot premiums are included in the base price
The villa HOA is higher month to month, but it covers more — exterior maintenance and the roof are handled for you, which simplifies budgeting considerably if you travel or want less to manage.
Current buyer incentives
Toll Brothers is offering a few incentives worth factoring into your numbers. Buyers can choose between a free golf cart or $10,000 off the purchase price. If you use Toll Brothers Mortgage for financing, there's an additional $10,000 toward closing costs. Design center credits are currently $15,000 for 2-car homes and $30,000 for 3-car homes, which goes a long way when you're selecting flooring, cabinetry, and finishes. Incentives change, so confirm the current offers directly with the sales team when you visit.
Age rules at Regency at Waterset
The community follows the 80/20 rule for 55+ communities, which means at least 80 percent of occupied homes must have one resident who is 55 or older. Practically speaking, residents can be as young as 48. Children may visit but must be 22 or older to reside permanently.
Quick facts: Regency at Waterset
- Location: Apollo Beach, Florida (Hillsborough County)
- Builder: Toll Brothers
- Total homes: 570 at build-out; 187 in Phase 1
- Home types: Villas and single-family homes
- Villa HOA: $464/month
- Single-family HOA: $369/month
- CDD fees: $1,500 to $2,500/year depending on home type
- Flood zone: No
- Drive to downtown Tampa: approximately 30 minutes
- Drive to Sarasota: approximately 45 minutes
- Age restriction: 80/20 rule; minimum age 55 (residents as young as 48 permitted)
Is Regency at Waterset worth a visit?
If you want new construction in the Tampa Bay area with a private amenity center, a no-flood-zone location, and the quality standards that come with a Toll Brothers build, this community checks a lot of boxes. The lot premiums and CDD fees add up, so run the full monthly and annual cost before comparing it to other communities in the area. But the location inside an established master-planned community, with daily conveniences close by and the coast within easy reach, is a genuine advantage over communities that are still waiting for the surrounding area to catch up.
If Regency at Waterset is on your radar, create your free Explore55Plus account. Our AI will match you to 55+ communities that fit your budget, lifestyle, and must-haves and give you a personal match score for each one. You can save the communities you like to a shortlist and then compare them side by side in the Decision Matrix to decide with confidence.
