A major hurdle was cleared today when the Development of Regional Impact (DRI) plan for what is known as The LOOP-Punta Gorda, was 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 s/f including 1.2 million s/f of retail, 100,000 s/f of offices, 200 hotel rooms and 500 residences.
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, Fl. 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.