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Firm revises project
Benderson Development Co. recently announced plans to revive the dormant University Town Center mall project in north Sarasota County.
The project, near the University Parkway exit of Interstate 75, was initially proposed in 2005. Plans called for more than 1.5 million square feet of retail space anchored by Nordstrom and Neiman Marcus. But the recession and housing downturn forced University Park-based Benderson to scale back and delay the project.
Benderson project managers recently met with Sarasota County officials to discuss a revised mall proposal, which includes less retail and residential space, but a larger focus on a nearby rowing park. Construction could begin by early next year if the plans are approved.
Buchanan faces challenger
Former Democratic state representative Keith Fitzgerald says he will run for Congress against U.S. Rep. Vern Buchanan, R-Longboat Key, in the November 2012 election.
Buchanan is currently serving his third term in the seat, the 13th Congressional district. An entrepreneur who has been in the printing and auto dealer industries, Buchanan is on the House Committee on Ways and Means. He recently passed on an opportunity to run for U.S. Senate in Florida.
Fitzgerald is a New College of Florida political science professor. He served two terms in the state House, from 2007-2010.
Strong year continues
Lakewood Ranch-based homebuilder Neal Communities wrote 39 sales contracts last month, an 11% increase over September 2010 and a 90% increase over August.
The strong month continues a strong year for the firm. It has already written 290 contracts in 2011, more than the total for 2010. Executives project the company will sell 397 homes in 2011, and at least 500 in 2012.
The success was also recognized nationally by Builder magazine, which called the company a “local powerhouse” in a recent article on the housing rebound.
Home prices rebound
The median price of an existing single-family home in the Fort Myers area rose 13% in September compared with the same month a year ago despite that the number of sales fell nearly 4% in the same period, according to the Realtor Association of Greater Fort Myers and the Beach.
The association reported that the median price of an existing single-family home rose to $99,450 in September, which saw 1,028 sales.
Still, the association says prices of existing single-family homes in the area were held back by foreclosures and short sales. In the third quarter, the median price for bank-owned homes was $73,000, compared with $135,000 for a conventional sale.
Bus links counties
Local government officials recently inaugurated a new bus route connecting Lee and Collier counties, the first time the two counties have established a public-transportation link.
The new service, dubbed “linC,” connects Lee and Collier counties seven days a week from north Naples to north Fort Myers.
Casino resort planned
Champion Development Corp. plans to lobby Lee County residents to back plans for a casino resort on land near Colonial Boulevard and Interstate 75 in Fort Myers.
Champion has hired Whitestar Strategies, an Atlanta-based lobbying firm, to mail out 60,000 petition forms to Lee County voters to show state legislators the project is desirable.
Phil Nichols, director of Whitestar Strategies, says the resort could have as many as three hotels with a total of 1,500 rooms and 300,000 square feet of conference space at The Forum, a 706-acre mixed-use development at the northeast corner of Colonial Boulevard and Interstate 75. Nichols declined to discuss financing of a proposed deal.
Nichols says local support will likely be necessary if state legislators consider broadening gambling laws. “The governor has said any gaming should have local voter approval,” says Nichols. “We're starting at the local level.”
Tampa firm to hire 152
CareCentrix Inc., a Hartford., Conn.-based company offering health benefits management services, added a second facility to its operations in Tampa this week, and will make 152 new hires.
Once the new 31,000-square-foot facility at Westlake Corporate Center is fully operational, CareCentrix will employ 500 workers in the Tampa Bay area.
CareCentrix also operates in Phoenix, Albuquerque, N.M., and Kansas City. The privately held company provides benefit management services to more than 30 million subscribers throughout the country.
Eric Reimer is the firm's CEO. Last month, Summit Partners, a growth equity firm that has raised $11 billion since its inception, made an undisclosed investment in the company.
Odyssey finds more silver
Tampa-based Odyssey Marine Exploration Inc. located the shipwreck site of the SS Mantola this month. A 1917 insurance claim paid by the British government suggests the Mantola holds more than 600,000 ounces of silver.
While the price of silver is highly volatile, the precious metal's cumulative average price in 2010 was $20.19 per ounce, according to Kitco, a Canadian company that tracks commodity prices.
Two weeks ago, Odyssey announced it had located the shipwreck site of the SS Gairsoppa, and estimated that the ship held 7 million ounces of silver.
Odyssey will retain 80% of the net value of the silver recovered from the shipwreck, per an agreement with the British government signed in September.
Odyssey Marine Exploration generated $6.7 million in revenues in 2010.
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