Centex scraps Indiantown development

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Builder Centex Homes has given up on the last of its major projects in
Indiantown and sold the land for less than half of what it paid for the
281-acre site. Eric Bruner, a spokesman for the Dallas-based
developer, said Centex is focused on generating cash and minimizing
land-related spending during an extremely challenging housing
correction. Fort Myers-based Consolidated Citrus paid $3.25 million for
the Owens Grove and Gibb properties,
less than half of the $7.31 million Centex paid for them in 2005 and
2006.

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