ESTERO — Pulte Home Corp. has finalized the purchase of a 130-acre tract in Estero, where its Del Webb senior housing unit plans to develop a 387-home community called Tidewater.
The property, which Pulte acquired from Naples-based NM Development Group, is adjacent to Germain Arena and bounded by Interstate 75, Estero Parkway and the Miromar Outlets.
NM Development, led by partners Al Moscato and David Nassif, still has land entitled for 200 hotel rooms and 250,000 square feet of office and retail space.
The remaining 16 acres are being listed for sale by Fort Myers commercial real estate brokerage firm Land Solutions Inc.
“The Estero site is central to the highest-growth area in Lee County and Southwest Florida,” Moscato says in a statement. “The location is optimal for the residential and commercial offerings already approved and under development on the property.”
The sale marks the latest in a series of land transactions Pulte has executed in Lee County in recent months to advance new housing communities.
Last month, the homebuilder acquired 105 acres in Fort Myers where it plans to develop homes on 332 lots in a community called Westbrook. Pulte hopes to begin selling those homes this summer.
Rich McCormick, president of Pulte's Southwest Florida division, says Lee County is an area with little comparative new construction and high consumer demand.
In Westbrook, Pulte is planning homes measuring 1,565 square feet to 4,389 square feet, together with a host of amenities.