HomeOutdoorsNewsThis Developer is Charging $43 Million for Some Underwater Land

This Developer is Charging $43 Million for Some Underwater Land

by Brett Stayton
Heron In Mangrove Coast
Photo by Gary Faber/Getty Images

It’s not quite Ocean Front Property in Arizona, but if you’ve got $43 million to buy some underwater land this guy might just throw the Golden Gate in for free. Four acres currently submerged under the brackish Intracoastal waterway in South Florida could be yours for just shy of $50 million. Similar semi-sunken lots have sold in the area and been filled in by real-estate developers.

As you can see in the Google Earth schematics presented by The Weather Channel, it’s a fairly substantial chunk of undeveloped waterfront acreage with huge potential as a vacation paradise. Over the last 2 years properties in the area have increased in value by 10%. Houses in the area can go for as much as $18 million. It’s the largest undeveloped property for sale in Boca Raton in more than 30 years. The Intracoastal Waterway is an absolutely magnificent stretch of mansions, mangroves, inlets, and marina’s through one of the most beautiful coastal areas on Earth.

Property Could Take Years To Clean Up And Restore

William Swaim of Waterfront ICW Properties is the one offering the land up for sale. He specializes in the real estate development of flooded properties. According to Entrepreneur, Swaim explained that anyone who buys the property will have their work cut out for them. For an additional $3.5 million his company will fill in the underwater land and build infrastructure for development.

“Manatees are dying at record rates because of impacts to their habitat, and increasing development on submerged lands is only going to compound that problem,” said Lisa Interlandi Executive Director of the Everglades Law Center.

The property was reportedly completely above ground until 1957. That’s when, according to Swaim, a property developer excavated it and transferred it to a nearby subdivision project. Other people are concerned that developing the property would be harmful to manatee populations in the area.

However, a review of the property in 2018 by the U.S. Army Corps of Engineers determined that developing the land would not adversely affect endangered and threatened sea turtles, smalltooth sawfish, or manatees.

Luke Bryan’s Florida Beach House For Sale For $18 Million

If you’re looking for a ready-made vacation paradise for sale in the Florida panhandle and $18 million is within your price range, then Luke Bryan’s beach house could be yours. The four-story, 4600-square-foot house sits on an acre of land with 95 feet of beachfront access. There is also a custom-built heated pool. Taste of Country reported that if Luke Bryan receives his asking price, the sale would be one of the most lucrative ever for a country star. But get this. Bryan’s beach house isn’t even the most expensive on the Santa Rosa market. There’s a home nearby for sale for $18.99 million.