How much land does WCI own, when was it acquired, and how much is it worth today?
WCI currently controls over 19,000 planned units. The land has been acquired over a number of years. As of June 30, 2007, 30% of the planned units was located in Naples/ Ft. Myers, 26% in Tampa/Sarasota, 13% in Miami, Ft. Lauderdale, 3% in Palm Beach, 2% in Palm Coast/Jacksonville, 8% in Perdido Key, 1% in other areas of Florida, 14% in the Northeast U.S., and 3% in the Mid-Atlantic U.S. The land is carried on our books at the lower of cost or market value.
