Another welcome event occurred in the Everglades last week.
More than 2,200 acres of land, valued at over $53 million, has been donated near
Lake Okeechobee to be used for a water management facility. Originally
destined—and already permitted—to be a residential and equestrian development
for the Florida polo community, the land will now be used for reservoirs and
stormwater treatment, reducing the pollutants reaching local waterways and also
reducing the amount of freshwater discharged from Lake Okeechobee to the St.
Lucie River.
The public-private partnership will provide more than 900 acres of
stormwater reservoirs, 600 acres of stormwater treatment area, 114 acres of
created wetlands, a recreation area, and an as-yet undetermined amount of
preserved wetlands. The owner, Lake Point Holdings, will offset the cost of the
land by excavating and selling limestone from the site, expected to be used for
projects such as lining the nearby C-44 canal, constructing a reservoir, and for
other commercial and infrastructure projects. Martin County and the state of
Florida have approved mining operations for 20 years on about 1,000 acres of the
property. While the market for high-end homes might be slow, infrastructure work
could well be picking up in the area.
The owner will complete most of
the groundwork for the water management facility before turning over the land.
The South Florida Water Management District, which at one time had considered
buying the property from a previous owner, will run the facility.
You can find more details of the partnership here.