Davis Development buys 14 acres near Alico Road, I-75

A fully entitled 14-acre parcel sold for $11.6 million, clearing the way for a 300-plus-unit apartment complex southwest of the Interstate 75 and Alico Road interchange in Lee County. 

Atlanta-based Davis Development purchased the land set back from the southeast corner of Alico Road and Three Oaks Parkway through DD Alico LLC. The company has developed more than 50,000 apartment units over the past 20 years, including Solay Cape Coral, Sopra Luxury Living Apartments near the Forum in Fort Myers and The Pearl at Founders Square, a 400-unit complex in Collier County. 

LQ Commercial, represented by John Mounce and Jessica McEvoy, represented the seller, Avery Alico LLC. The seller is owned by Aventura-based Meyers Group, an apartment developer building The Avery, a 250-unit complex in Port Charlotte. 

Stuart Meyers, founder and former owner of Meyers Group, died at age 83 in June 2025. Over a 50-year career, he developed more than 20,000 apartment units, primarily in South Florida and El Paso, Texas. 

Michael Price of LQ Commercial represented Davis Development in the transaction, which moved from contract to closing in less than 150 days. 

“In a market moving this fast, timing is everything,” Mounce said. “A deal of this magnitude required all parties to execute with precision. It’s a testament to the commitment on both sides and the proficiency of all involved.” 

Price said Davis Development’s experience positions the project for success. 

“This site checks every box,” Price said. “Location, entitlements, proximity to major employers and infrastructure. The residents who eventually call this home will be at the center of everything happening along this corridor.” 

The site is near Southwest Florida International Airport, Florida Gulf Coast University, Gulf Coast Town Center and an interstate intersection that averages more than 125,000 vehicles per day.