The original purchase of the Wulfert Point property for $20,000,000 involved the acquisition of an old key lime planation in a protected area or nature preserve on Sanibel Island, Florida. In order to secure approval for development density was dramatically reduced and hundreds of acres were donated to the Federal Wildlife Association and additional acreage set aside for an eagle preserve. Your “team” of four individuals is developing Wulfert Point.
- One eighteen hole golf courses with club house and golf practice facilities
- 5 Hospitality Suites in the Club House and Condos (108)
- Swimming pool
- 14 villas
- 106 single family lots
- 13 Duplex lots
- Tennis center, Fitness center and Spa
- Club House dining facilities
- Construction of a sewage treatment facility
- Commitment for affordable housing
- Infrastructure including roads, power, water and sewer.
Discuss the structure to be utilized in structuring the lease/purchase of the land giving consideration to a syndication to raise capital for the development of the land with a view to providing potential investors with the most favorable future tax treatment (refer to the chart below: BTS Development Corporation is the buyer, and seller may join the LLC, who may contribute parcels of the land for equity interest, etc.).