A 1,484-acre tract of land in Cape Coral will be sold in a sealed bid auction.
Family owned for more than 50 year, the land is subject to a court-ordered sale. The deadline for submitting an auction bid is October 20.
The original residential development plan for the 1,484 acres of continuous land, located east of Burnt Store Road in Coral Springs, featured more than 1,600 homes.
The southern 232 acres of the land has zoning that permits lots ranging from 10,000 to 20,000 square feet. The rest of the land is zoned for agricultural use.
Real estate firm Madison Hawk will conduct the auction.
“Cape Coral recently received some of South Florida’s highest marks on an index gauging housing strength published by Freddie Mac,” Jeffrey Hubbard, president of Madison Hawk, said in a prepared statement. “Its rating was second to only Miami.” — Mike Seemuth