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Cameratta Cos. starting The Preserve at Corkscrew


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  • | 9:10 p.m. August 5, 2011
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  • Commercial Real Estate
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Cameratta Cos. LLC recently announced plans to kick off construction of The Preserve at Corkscrew, a 510-acre residential development in Estero.

The gated community will feature a 6,000-square-foot clubhouse, fitness center and an outdoor resort-style swimming pool. Designs for the community also call for a freestanding full-service restaurant on Corkscrew Road at the entrance to the residential area.

The community includes 441 single-family lots with more than 360 acres of natural preserves and walking trails.

Louisville, Colo.-based Real Capital Solutions, which acquired ownership of the land from Cameratta last year, is partnering with the former owner in the development. Real Capital Solutions purchased the mortgages covering the land and 76 units in High Point Place and then asserted its ownership in what the company describes as a “friendly workout.”

Cameratta says its has enough private equity financing to start construction of the first phase, 116 single-family lots. Work is scheduled to begin this month. Sales and marketing efforts are set to begin in August as well, and contracts with two national builders are reportedly being finalized.

Cameratta Cos. developed High Point Place and First Street Village in the River District in downtown Fort Myers.

 

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