City of Cape Coral Land Purchase

City of Cape Coral Land Purchase

 

As some of you may have heard, the City of Cape Coral purchased a large number of properties through a real estate auction held at the Lee County Clerk of Courts website on Monday, April 9.  The purchase price for these properties, which previously were owned by Thieman Enterprises, was just over $13 million.  The City will gain title to 491 properties (652 acres), most of which are located in the north Cape.  The City of Cape Coral purchased these properties through a legal bid process and will take title to the properties in about 10 days.     

 

This acquisition was done to assist the City with future land requirements in the north Cape for utility and stormwater projects, parks and other public facilities such as fire stations. Because development of the north Cape is years in the offing, it is unlikely any of this newly acquired property will be expendable in the foreseeable future.     

 

As such, the City is respectfully asking REALTORS® to refrain from calling the Real Estate Office to inquire about the availability of these properties.  If the City should determine any properties are "surplus" in the future, the City will follow legal notification requirements and conduct a public hearing with City Council.  However, that probably will not happen any time soon.    

 

The City's Real Estate staff has been inundated with calls from REALTORS® asking about the availability of this property for purchase, or asserting that offers and contracts were tendered on various properties within the lot of 491 parcels.  Please be advised by this email that the City does not intend to declare any of these parcels as "surplus" for the purpose of selling them to the public at this time.   

 
Cape Coral Florida

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