Texas developer pays $100M for nearly 1,750 acres in Cape Coral

The development could bring as many as 3,500 residences and 425,000 square feet of retail to the Lee County city.

By Louis Llovio
| 5:55 p.m. December 12, 2024
| 0 Free Articles Remaining!

A 1,745-acre parcel in Cape Coral was sold to a Texas developer for $100 million.

Charlotte–Lee–Collier

Forestar Real Estate Group, a residential developer in Arlington, Texas, has bought 1,745 acres in Cape Coral and is planning a major development on the land.

According to LSI Cos., the Fort Myers commercial real estate firm that brokered and announced the deal late Thursday afternoon, Forestar paid $100 million for the property at 4101 Burnt Store Road.

While details of the company’s plans for the property weren’t immediately clear and a spokesperson did not immediately respond to a request for comment, a PowerPoint presentation before Cape Coral’s City Council in March 2023 describes the scope of the project.