TerraCap Partners land annexed, rezoned by Punta Gorda

The investment fund TerraCap Partners received approval from the City Council of Punta Gorda, allowing it to create a large mixed-use development on Jones Loop Road between Interstate 75 and U.S. 41.

The city approved annexing TerraCap Partners' 171 acres of property on both sides of Jones Loop Road and approved a rezone of the property into a commercial interchange, which allows for a number of commercial uses.

“This new zoning offers the developer a high level of flexibility,” says Stephen Hagenbuckle, co-managing partner of TerraCap Management, which directs the fund. “This gives us the ability to do a comprehensive mixed-use walkable town center environment with hotels, residences and shopping. Effectively creating a central business district.”