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Consolidated Tomoka Land Co. Message Board

  • lareno51 lareno51 Jan 28, 2001 7:40 PM Flag

    Economic Slowdown and CTO

    How will the slowdown affect CTO's prospect for development of their mostly commercial land . Also can anyone shed light on how many of CTO's acres are potentially commercial and how many potentially residential ? I understand some of their acreage is just pine forest . Is it suitable for development ? Any comments welcome.....

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    • I don't think most of CTO's land is yet determined to be necessarily commercial or residential, other than areas for which they have done pre-permiting work (auto mall etc.) They get alot more per acre for commercial land generally, though it sounds like you're concerned about the economy's slowdown there. I wouldn't worry about it much, Florida is somewhat recession resistant since retirees drive much of the golf course community sales. Most, if not all of their land is suitable for development. Check the map, it's all ideally located and not far from the beach. A year or two ago they sold off a big chunk of land to the west that was indeed set aside for conservation.

 
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