Developers have purchased a large parcel of land in southwest Florida, threatening the area and angering residents.
Gulf Coast News reported that Forestar (USA) Real Estate Group bought the 1,745-acre parcel of land in northwest Cape Coral for $100 million. The developers told the outlet they have plans for 3,500 new homes and a shopping center.
The deal was brokered by LSI Companies, which told Gulf Coast News that it is the largest unimproved land deal in Lee County history. The company also stated that a lot of the preserve area will remain protected, like the Yucca Pens Preserve, which is north of the development project…