The Real Deal Miami

Jupiter buys island for $3M

June 25, 2008 12:41PM

The Town of Jupiter will purchase a tree-covered island for $2.9 million from two private companies, Madison I and Northstar Investments Limited, who bought the island in 2003 for $2.3 million. The companies had planned to build a private estate on Fullerton Island, which is located just west of Burt Reynolds Park in Jupiter. The town blocked their effort, because the land was zoned for conservation. The developers sued the town in 2005 for allegedly blocking their efforts to get the property to rezoned, but the two parties settled out of court. The town plans to make the vacant, 12-acre plot into a public park.