The News-Press reports that a developer is targeting a 57-acre parcel at the Forum in Fort Myers for a $1B gaming resort. The project would include 1,500 hotel rooms, 300,000 SF of convention space and 400,000 SF of retail stores and restaurants.
[more] →A new book, Exiles in Eden: Life Aong the Ruins of Florida’s Great Recession, offering an insiders view to the Florida housing crisis is hitting the shelves this week.
The Fort Myers area is prominently covered by author Paul Reyes including a look at a mostly abandoned, upscale gated community. A book about the housing bust would not be complete without an examination of Lehigh Acres, where the authors parents purchased a vacant lot in 1969 on the $10/month plan while honeymooning in Miami.
[more] →The News-Press reports that the Lee County Commissioners discussed the possibility of acquiring highly-discounted Lehigh Acres residential lots and bundling them together for industrial and commercial development: Lee County should stock up on cheap lots, a county commissioner suggested. Frank Mann said Thursday the county ought to buy discounted lots in Lehigh Acres, bundle them [...]
[more] →Bye Bye First Homes An ugly era in the annuls of Southwest Florida real estate history came to an end yesterday when Hovnanian sold the last 1,409 lots it owns in Southwest Florida. Hovnanian sold these remaining lots to a Czech investment group for about $3,000 each, a far cry from the peak value about [...]
[more] →The St. Petersburg Times covers the early history of Lehigh Acres in an article titled, Lehigh Acres: Florida’s Lesson in Unregulated Growth. This article is a must read for anyone considering an investment in Lehigh Acres. The sad truth is that Lehigh Acres was developed to sell cheap land to Northerners, with little regard for [...]
[more] →Our Lot: How Real Estate Came To Own Us, a new book by Alyssa Katz, prominently features the Lee County real estate bubble. The Lee County chapter focuses on the flipping that occurred in Lehigh Acres during the height of the market run-up. Anyone who participated in the Lehigh flipping frenzy will certainly want to [...]
[more] →The New York Times covers the economic challenges facing Southwest Florida, and in particular Lehigh Acres in an article titled In Florida, Despair and Foreclosures. The article details the boom years and what has occurred since the real estate market busted. This article is a must read for anyone that has an interest in the [...]
[more] →An auction of of 51 REO-owned properties is being held at 7 p.m. August 5, 2008, at the Ambassador Riverfront Hotel located at 2500 Edwards Drive in Fort Myers, Florida. The auctioneer for this event is Rick Levin & Associates, Inc. The properties being auctioned off are primarily single-family homes located in Cape Coral and [...]
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