The Villages at Entrada, a 317 acre tract of land in Cape Coral has been acquired by national home builder D.R. Horton. Purchased from Naples-based CoCo of Cape Coral LLC, the development site has been permitted for the construction of 721 single family homes. The property, between Del Prado Boulevard North and North Cleveland Avenue, is one of the largest fully permitted properties in Southwest Florida west of Interstate 75. Terms of the deal were not disclosed. Jessica Russo with Development Realty Inc. represented the seller.
Realmark Communities, the sites original developer had to hand over the site to its lender during the real estate downturn. CoCo of Cape Coral acquired the land in 2012. The scheme includes a 3-acre site for a clubhouse and pool area and common areas and potentially for other amenities. There’s no Community Development District attached to the project, and City of Cape Coral development approvals are in place for up to 30 model homes and two gatehouses.
