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Large Scale Development
Plan Approved for
The LOOP – Punta Gorda

The LOOP- Punta Gorda becomes The Great LOOP – Southwest, FL

CHARLOTTE COUNTY, FL (May 20, 2008) – A major hurdle was cleared today when the Development of Regional Impact (DRI) plan for what is known as The LOOP-Punta Gorda, Florida was unanimously approved by the Charlotte County Board of County Commissioners.

With this approval in place, the mixed-use town center project, developed by The Wilder Companies of Boston, remains on its planned track for construction to commence first quarter 2009. Openings are scheduled for later that year.

The DRI approval is necessary due to the far-reaching impact of a project of this magnitude. The LOOP is planned to be more than two million square feet including 1.2 million square feet of retail, 100,000 square feet of offices, 200 hotel rooms and 500 residences.

“This approval is significant because it solidifies all the terms and conditions for the project,” said Tom Wilder, a Wilder Companies principal. “With this in hand we will quickly move to the next steps to bring a whole new shopping, dining, living, working and entertainment experience to the market.”

In a related move, to better reflect the project’s size, scope and reach, The LOOP-Punta Gorda has been renamed The Great LOOP-Southwest, Florida. The development will serve the multi-county trade area of northern Lee, Charlotte and southern Sarasota counties. The corridor is known as the last great untapped market on Florida’s west coast. It is short on urban amenities with dollars leaving the market for Fort Myers and Sarasota. The Great LOOP is planned to stop and ultimately reverse that flow.

“There is great familiarity with The LOOP brand on both a business-to-business and consumer level. The Great LOOP goes beyond what came before in size, design, experience, and trade area draw. We wanted the name to better reflect that,” said Andy LaGrega, another Wilder principal.

The hub of the corridor, Punta Gorda, is experiencing revitalization and growth in all sectors. The Charlotte Harbor Event and Convention center is slated to open in September followed by The Wyvern boutique hotel opening in November. In addition, The Harbor Inn Resort and Yacht Club recently broke ground adjacent to the newly constructed Laishley Park Marina. Super Wal-Mart opened in March adjacent to The Great LOOP and is experiencing robust sales. Finally, in a report released May 13 by the Florida Association of Realtors, Charlotte County-North Port posted a six percent rise in existing home sales, the highest and one of only two counties in the state, for the first quarter 2008.

Based in Boston, The Wilder Companies specialize in the development and positioning of retail properties. Wilder has over 35 years experience in merchandising specialty centers, urban-street retail, mixed-use properties and regional malls. The company’s current portfolio consists of 45 properties nationwide with an additional four million square feet under development including The Rialto, a 350,000 square foot luxury, mixed-use development, also under construction, in Orlando, FL.

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