Naples firm plans 563-acre Charlotte development

In the wake of its $6.5 million purchase of a 563-acre tract in Punta Gorda, Lely Development Corp. intends to start work on a project that could contain as many as 2,400 residents and hundreds of thousands of commercial square feet at completion.

The Tucker's Grade property is currently entitled for 999 single-family residences and roughly 22 acres of commercial space. But Lely President Joseph Boff says the eventual development there could contain a mix of single-family homes, apartments, condominiums and town homes, which could push up the total figure.

“We think this is where the market is going,” says Boff. “It's a straight shot from Punta Gorda into Fort Myers, and in Collier County, we're just about out of property to develop.