Skip to main content

Broker Sale of District Parcel $3 Million

October 20, 2022

One of our communities, Port of the Islands Community Improvement District in the Everglades, has held a 42 acre plot for a number of years, that had mixed zoning. Approximately 15 years ago, a developer purchased the parcel and had planned on creating an RV park, but, due to the 2008 economic crash, those plans were never realized, and the parcel returned to the District after the developer stopped paying its assessments.

After a rigorous, few years of Board discussion and community input, the District contracted with a commercial real estate agent culminating in the recent purchase of the lot, appraised at $2 million, and sold for $3 million to be developed into single family and multifamily housing. The closing occurred in September of 2022, and the District and its residents will reap the benefits of new community development, via new homeowners invested in the CID, as well as the assessment income to support that development and operations and maintenance of the various facilities and infrastructure, including a water treatment facility, for decades to come.

Premier is proud to have facilitated all the time intensive and often challenging steps in the process of turning fallow, non-income generating land into new development and assessment revenue for the sole benefit of its residents.