Alico, Inc. continues to make significant progress on one of its most closely watched land-development opportunities in Southwest Florida:
While the company reported solid financial results for the third quarter of fiscal 2026, the bigger story for the region may be what is happening with Alico’s substantial land holdings in eastern Lee County. The company is moving forward with the permitting process for Corkscrew Grove East Village, a major component of its long-term development vision that could begin construction as early as 2028 or 2029, assuming the remaining state and federal approvals are obtained.
Corkscrew Grove: A Major Future Development Opportunity
Alico received final local entitlement approval for the East Village in April 2026, marking an important milestone in the project. The development is now progressing through additional permitting with agencies including the U.S. Army Corps of Engineers, U.S. Fish and Wildlife Service and South Florida Water Management District.
The Corkscrew Grove Villages plan is particularly notable because it is designed around a significant conservation component. Approximately 6,000 acres are planned for permanent conservation, creating a development concept that incorporates large areas of preserved land alongside future residential and community uses.
If the remaining approvals are secured, construction could potentially begin in 2028 or 2029, positioning Corkscrew Grove as a development to watch closely as Southwest Florida continues to expand eastward.
Alico Continues to Position Its Land Portfolio for the Future
Alico currently owns approximately 47,300 acres across seven Florida counties, making it one of the region's significant private landowners. The company has historically balanced development opportunities with conservation initiatives, including land transfers involving the CREW Wildlife and Environmental Area, Tiger Creek Preserve and Okaloacoochee Slough Wildlife Management Area.
That approach is also reflected in the Corkscrew Grove vision, where thousands of acres are expected to remain permanently preserved.
The company is simultaneously pursuing other strategies to create value from its land holdings. Alico recently entered into an agricultural lease covering approximately 3,280 acres, with a purchase option valued at $29.5 million. The arrangement provides ongoing lease income while maintaining the possibility of a future sale.
Strong Financial Position Supports Long-Term Strategy
Alico reported $9.04 million in revenue for the quarter ended June 30, 2026, compared with $8.39 million during the same period a year earlier. Gross profit was approximately $4.05 million, while operating income reached approximately $1.89 million.
Net income attributable to common stockholders was approximately $2.13 million, or $0.29 per diluted share. Adjusted EBITDA totaled approximately $4.6 million for the quarter, prompting the company to increase its fiscal 2026 Adjusted EBITDA outlook to approximately $15 million.
The company also completed $10 million in share repurchases, representing approximately 245,000 shares, and paid its quarterly $0.05-per-share dividend.
At the end of the quarter, Alico reported approximately $55.6 million in cash and cash equivalents, providing the company with substantial liquidity as it continues pursuing its long-term land strategy and development opportunities.
Why Corkscrew Grove Matters to Southwest Florida
For residents, investors and real estate professionals watching the continued growth of Southwest Florida, Corkscrew Grove Villages is a project worth keeping on the radar.
The combination of a large land footprint, planned conservation areas and proximity to the rapidly growing communities of eastern Lee County and Collier County could make Corkscrew Grove an important part of the region's future growth story.
With local entitlements already secured for the East Village and additional permitting underway, the project is moving from a long-term land concept toward a more tangible development opportunity.
The potential start of construction in 2028 or 2029 may still be several years away, but the groundwork is being laid now for what could become a significant new chapter in Southwest Florida's growth.
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