Leonard and Jack Rosen had a vision, they believed that this area’s (Cape Coral) proximity to the Gulf of Mexico would make it irresistible to homebuyers drawn to a waterfront lifestyle. The Rosen’s referred to Cape Coral as a “Waterfront Wonderland.” They began to make that a reality and purchased a 103 square mile tract know as Redfish Point, for $678,000. In November 1957 the construction began, and Cape Coral was born. A system of canals was constructed spanning more than 400 miles, which were dug up to elevate and fill the land; most areas were below sea level.
Cape Coral was constructed at an astounding pace. A few short months after its construction (June 1958) the first residents moved in. The home sites were priced to sell. Water views were $990.00 waterfront lots were $1900 and the riverfront home sites
were offered for $3390. The first year of sales reached over $9 million dollars, which peaked the interest of northerners looking for a great place to relax and retire. Cape Coral was heavily promoted through mail order, radio ads, T.V. and print. Soon curious people
were flying down in droves to take a peak and hear a high pressure sales pitch.
Unfortunately the infrastructure didn’t match the influx of people moving to the area, there was only one building in Cape Coral in 1958, it was a four-plex designated as the housing land office. Residents were forced to travel more than 20 miles to shop for
supplies. The problem was rectified in March of 1964 when the Cape Coral Bridge was opened to traffic. This new bridge made Cape Coral more assessable than ever and the population exploded.
In 1970 Cape Coral was incorporated as a city and was deemed one of the fastest growing cities in Florida. Today, Cape Coral still continues to grow featuring waterfront properties on canals, lakes and basins ; many of which have direct access to the Pine Island Sound and Caloosahatchee River, making this city a water enthusiasts dream. Come visit our city and see for yourself.
More fun facts:
- Median age 43 as of 2010
- Cape Coral is 120 square miles making it the second largest city in
- Second lowest index crime rate of Florida cities with populations
- More than 400 miles of waterways
- Median household income $55,989
As always if we can assist you in your buying or selling need pleasedon’t hesitate to call. We look forward to working with you.
Yours in Success,
The Florida Future Realty Team