WCI Communities buys land for future Arborwood Preserve community

BUYER: WCI Communities LLC, Bonita Springs
SELLER: Arborwood CDD Holdings Inc.
PROPERTY: 12005 Commerce Lakes Drive, Fort Myers
PRICE: $5.49 million
LAW FIRM ON DEED: Greenberg Traurig PA, Miami

PLANS, DESCRIPTION:
WCI Communities LLC purchased 236.6 acres of agricultural land for $5.49 million.

The price equated to $23,204 per acre.

The property is bordered on the south and southwest by Commerce Lakes Drive and on the north by Gateway Golf & Country Club.

“WCI is pleased to have acquired this property centrally located within the desirable Gateway area of the city of Fort Myers, which we will develop as Arborwood Preserve,” Paul Erhardt, senior vice president of homebuilding and community development for WCI Communities, wrote in a statement emailed to the Business Observer. “We look forward to introducing a brand new master-planned community in 2016 on the site. Final home plans and pricing have not yet been determined.”