Market Brief
A Fort Myers developer paid $18.5 million for 13 parcels of the nearly 5,000-acre MeadowVue site east of U.S. 17 in Charlotte County, months after the county rescinded utility deals for PulteGroup's plan.
What sold at the former Pulte MeadowVue site, what the land is zoned for, where the plan stands, and how nearby Punta Gorda ZIP codes are selling.
Fort Myers developer David E. Torres bought 13 parcels along U.S. 17 for $18.5 million in five transactions from September 5 to 11, 2026, according to Gulfshore Business. The parcels are part of the nearly 5,000-acre site north of Punta Gorda where PulteGroup had proposed MeadowVue, a plan with thousands of homes, a golf course and commercial space. The land is zoned for one home per 10 acres, and Charlotte County commissioners voted 5-0 on February 10, 2026 to rescind the water and wastewater agreements that plan relied on.
Torres told Gulfshore Business he intends to develop the land but that it is too early to say what form a project would take. This piece covers what changed hands, where the approvals stand, and how the nearby Punta Gorda housing market is selling. Monthly figures are on the Punta Gorda market data hub.
What land sold at the MeadowVue site?
| Item | Detail |
|---|---|
| Buyer | David E. Torres, through companies he owns (Silvermine Companies LLC, formed June 2025; MeadowVue Land Development Group LLC, formed July 2026) |
| Price | $18.5 million for 13 parcels |
| Closings | Five transactions, September 5 to 11, 2026 |
| Location | Along U.S. 17, within a site south of the DeSoto County line, north of Palm Shores Boulevard and Washington Loop Road, east of U.S. 17 |
| Larger site | Nearly 5,000 acres of agricultural land |
| Current zoning | One residential unit per 10 acres |
Source: Gulfshore Business, October 14, 2026. The article did not name the seller or give the acreage of the 13 parcels.
Torres is also a partner with Gary Haines in FL Star Development and FL Star Construction, the report said. Residents and officials raised the sale at the October 13 county commission meeting, where Commission Chair Joe Tiseo said his understanding was that the Pulte project was not moving forward.
What happened to PulteGroup's MeadowVue plan?
PulteGroup's proposal would have developed about half of the nearly 5,000 acres, in the Rural Settlement Area Overlay District, Gulfshore Business reported in February. The planning and zoning board voted 3-1 against recommending approval in May 2025. On December 9, 2025, commissioners voted 3-2 to send the proposal to state agencies for review, which was not a final approval.
The plan stalled on utilities. The site lies in the service area of Sun River Utilities, which is no longer operating and was placed in receivership. On February 10, 2026, commissioners voted 5-0 to rescind agreements with Pulte Homes and an affiliate of Central State Water Resources because the documents were never fully executed, on the county attorney's recommendation. Any new project on the land would need its own approvals and a water and sewer plan, and the current zoning allows far fewer homes than the Pulte proposal.
How are homes selling near the site?
The MeadowVue land lies in northeastern Charlotte County, near the 33982 ZIP code east of Punta Gorda. Our October Market Pulse shows single-family sales in those ZIPs and nearby Punta Gorda ZIPs from August through October 2026:
| ZIP | Place | Closings, Aug to Oct 2026 | Median sale price | Median days on market |
|---|---|---|---|---|
| 33982 | Punta Gorda (east) | 36 | $469,500 | 58 |
| 33955 | Punta Gorda (south) | 96 | $350,000 | 53 |
| 33983 | Punta Gorda (north) | 71 | $360,000 | 42 |
| 33950 | Punta Gorda (city) | 104 | $637,500 | 32.5 |
| Charlotte County, October only | 346 | $339,995 | 46.5 |
Source: Momentum Market Pulse, Stellar MLS, October 2026 edition, computed by Momentum from Stellar MLS records (single-family; ZIP rows cover August to October 2026, county row October 2026 alone). Deemed reliable but not guaranteed.
Florida Gulf Coast MLS records, which also cover part of Charlotte County, showed 119 residential sales in 33982 over the same three months at a median of $360,000 and 56 days on market, according to our Gulf Coast Market Pulse. Charlotte County's October single-family median of $339,995 was 1.0% lower than a year earlier and 11.7% below its 2022 peak in the Stellar report. Our Charlotte County ZIP code piece has every ZIP.
What should buyers near U.S. 17 watch?
For now the land sale changes nothing on the ground. Buyers looking at homes east of Punta Gorda should watch Charlotte County commission agendas for any new filing by the buyer's companies, since a rezoning, a utility agreement or a development plan would come back for public hearings before construction. The current rule of one home per 10 acres would allow roughly 500 homes on 5,000 acres, far below the thousands Pulte proposed.
Buyers comparing new homes in the area can use our Punta Gorda new home communities piece. Costs that rise with growth are covered in our Punta Gorda water expansion and utility rates piece and the Charlotte County property tax page. Current listings are on the Punta Gorda and Port Charlotte market pages.
People also ask
Who bought the MeadowVue land in Charlotte County? Fort Myers developer David E. Torres bought 13 parcels along U.S. 17 for $18.5 million in five transactions from September 5 to 11, 2026, Gulfshore Business reported on October 14, 2026.
Is the Pulte MeadowVue project still happening? Charlotte County commissioners rescinded the project's water and wastewater agreements 5-0 on February 10, 2026, and the commission chair said in October that his understanding was the Pulte project was not moving forward.
How many homes can be built on the MeadowVue site? The land is zoned for one residential unit per 10 acres. Pulte had proposed thousands of homes, which would require new approvals.
What is the median home price in Punta Gorda? Single-family homes in Punta Gorda's 33950 ZIP sold at a median of $637,500 and in 33983 at $360,000 from August through October 2026, according to our October Market Pulse.
Limitations
Sale details are as reported by Gulfshore Business; the seller and the acreage of the 13 parcels were not reported, and the buyer has filed no public development plan we could find. The 500-home figure is simple arithmetic on the current zoning, not a project estimate. Market figures are computed by Momentum from MLS records and are deemed reliable but not guaranteed.
Sources
- Nancy Semon, Developer buys $18.5M in land for Charlotte County project, Gulfshore Business, October 14, 2026.
- Nancy Semon, Charlotte County stalls Pulte's 4,900-acre project, Gulfshore Business, February 12, 2026.
- Momentum Market Pulse, Stellar MLS, October 2026 edition, Momentum Research report built from Stellar MLS records.
- Momentum Market Pulse, Florida Gulf Coast MLS, October 2026 edition, Momentum Research report built from Florida Gulf Coast MLS records.
- Punta Gorda market data hub, Momentum Research.
Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.
Market statistics in this article are computed from MLS data licensed by Momentum Realty, and are current as of the date shown. Data may be preliminary and subject to revision by its source. This article is general information, not advice about any specific property, transaction, or financial decision, and is not a representation about any specific property, community, builder, or association.
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