Cape Coral, Florida

Cape Coral, Florida has nearly 100,000 residents that live, work and play in a city that is proud of its heritage, supportive of its business community and filled with good neighbors, good times, and good attitudes. Forecast Magazine placed the area 15th in its "Booming 25" list of fastest growing metro areas. DRI/McGraw Hill puts the area ninth on its list of top metro areas for employment growth in the next five years. Let us introduce you to Cape Coral...

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In 1957, Gulf American Land Corporation purchased 103 square miles of land and began planning their "Water Wonderland." Two years later they named the development Cape Coral, because "it sounded good." Many people think Cape Coral was originally swamp land, actually Cape Coral was only surrounded by some marshy areas and most of the land was covered with tall pines and grazing cattle.

Canals were dug and the fill was used to bring areas of ground up to the required 5' 6". In September of 1959 the Rutenberg Company opened 8 model homes. Riverfront property could be purchased for as little as $6,000, prime canal property for as little as $3,500 and commercial lots for around $1,000.

Cape Coral is bordered on the Southeast and Southwest by the Caloosahatchee River. The Caloosa Indians established communities 3,500 years ago along these banks. "Hatchee" is the Indian word for "river." This inter-coastal waterway connects Florida's East and West Coast through Lake Okeechobee.

The city now consists of 113.7 square miles with 1,700 miles of paved roads, making it the second largest city in area in the State of Florida. Cape Coral consists of over 138,000 platted lots, 400 miles of both salt and fresh-water canals, plus lakes, basins and riverfront property.

All salt-water canals have access to the Gulf of Mexico. The value of waterfront property is based on a number of features including travel time from the property to the Caloosahatchee River and Gulf of Mexico. Sailboat access property includes those that have access to river and gulf with no restrictions such as a low bridge. No low bridges is also desirable for high profile motor boats. There are various widths to canals starting from 80' +. A 200' canal for example would have a greater value than a canal on the other side of the street that was 90'. Areas of the city vary in value based on many different aspects, including whether city water/sewer services are installed and/or paid.

A standard Cape Coral building site consists of two lots measuring 40' x 125' each, for a total of 80' x 125'. ( A three lot site means you have an oversized building site for one structure, not property for three structures.)

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