Jones Loop Rd., Punta Gorda, FL
The Jones Loop Land Assemblage consists of 171.54 acres in Punta Gorda, Florida and took over 25 years to consolidate approximately 40 separately owned parcels. This proposed regional mall/mixed-use activity center location represents one of the last logical placement locations for a special project of this nature and would draw from over 320,000 people today and more in the future. The assemblage encompasses both the north and south side of Jones Loop Road, capturing both sides of the commercial opportunities in this connecting corridor between Interstate 75 and U.S. 41, only 1.37 miles apart. Such a site, where both north and south major corridors nearly converge, allowing convenience and accessibility for local and regional patrons, remains undeveloped as a result of the recession and credit crisis. Frontage for both north and south parcels combined equals 1.2 miles with .32 miles of frontage along U.S. 41 on the southwest portion of the property. We officially completed our two-year effort to rezone and annex the Jones Loop Land Assemblage into the city of Punta Gorda on the 26th of September 2014. With the property now rezoned in the Highway Commercial Corridor, it allows for a 1.5 Floor Area Ratio (FAR), which equates to 11,404,070 square feet of commercial development and 15 residential units per acre. The city of Punta Gorda which agreed to provide municipal services, refund the Developer 50% of the City’s ad valorem tax levy on the property for the first 4 years, maintain an agricultural tax classification until the time of development, and will vacate public rights-of-ways internal to the property that are not required to provide legal access to properties that are within the annexation area and owned by others.