Purchase of old golf course acreage on Council agenda
$10.4 million price tag placed on 178-acre site
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Cape Coral City Council is expected to vote on the purchase the former Palm Tree Boulevard golf club property at Wednesday night's meeting.
The contract calls for the purchase of the acreage at 4003 Palm Tree Blvd. for $10,400,000, plus half the closing costs, estimated not to exceed $55,000. The golf club, which closed in 2006, has an estimated 175 acres.
The source funds includes $5,395,643 - if approved by the Cape Coral Community Redevelopment Agency, $4,055,000 from the general fund and $1,004,35 from stormwater.
The closing on the property shall occur on Oct. 10, but the city could elect to close sooner.
According to an appraisal by Hendry Real Estate Advisors the property was valued at $8,760,000 on March 1, 2024. According to the appraisal, the property is vacant, but was constructed in 1963 and used as the Cape Coral Golf and Tennis Resort. It states the site was improved with an "18-hole golf course, a clubhouse/pro shop, a 100-unit hotel, tennis courts and internal paths and walkways."
Barth Wolf, part of the Save Our Recreation group, said they are extremely happy that this may be finally coming to a conclusion.
"We always thought the city was a good owner and steward of this land. We also thought CRA funds were appropriate for here," he said. "The golf course was put into the CRA many years ago. This will be a good use of the funds."
The hope, Wolf said, is it becomes a showcase for the community - a place that is open to everyone that has some kind of combination of green space and recreation.
Save Our Recreation began at least 10 years ago with the goal to preserve the property as a park and for recreation, not more homes.
"We certainly hope they have a good process to seek public input into this," Wolf said.
The meeting will be held at 4:30 p.m. Wednesday, Aug. 7, in City Council chambers, 1015 Cultural Park Blvd. The meeting is open to the public.