David E. Dodrill - Selling the dream: the Gulf American Corporation and the building of Cape Coral, Florida
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Selling the dream: the Gulf American Corporation and the building of Cape Coral, Florida
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Selling the Dream : The Gulf American Corporation and the Building of Cape Coral, Florida
author
:
Dodrill, David E.
publisher
:
University of Alabama Press
isbn10 | asin
:
0817305971
print isbn13
:
9780817305970
ebook isbn13
:
9780585164786
language
:
English
subject
Real estate development--Florida--Cape Coral--History, Gulf American Corporation--History.
publication date
:
1993
lcc
:
HD266.F62C363 1993eb
ddc
:
333.33/06/075948
subject
:
Real estate development--Florida--Cape Coral--History, Gulf American Corporation--History.
Page iv
Selling the Dream
The Gulf American Corporation and the Building of Cape Coral, Florida
David E. Dodrill
The University of Alabama Press Tuscaloosa and London
Page v
Copyright 1993 The University of Alabama Press Tuscaloosa, Alabama 35487-0380 All rights reserved Manufactured in the United States of America designed by Paula C. Dennis
The paper on which this book is printed meets the mini mum requirements of American National Standard for Information Science-Permanence of Paper for Printed Library Materials, ANSI Z39.48-1984.
Library of Congress Cataloging-in-Publication Data
Dodrill, David E., 1953 Selling the dream : the Gulf American Corporation and the building of Cape Coral, Florida / David E. Dodrill. p. cm. Includes bibliographical references and index. ISBN 0-8173-0597-1 (alk. paper) 1. Real estate developmentFloridaCape Coral History. 2. Gulf American CorporationHistory. I. Title. HD266.F62C363 1993 333.33'06'075948dc2092-39732 CIP
British Library Cataloguing-in-Publication Data available
Page vi
Contents
Acknowledgments
vii
1 Grand Dreams in Southwest Florida
1
2 Leonard and Jack Rosen
15
3 The First Five Years
29
4 Purchasing a Land Empire
50
5 Selling Florida Land
67
6 Financing the Gulf American Corporation
90
7 Promoting Florida Living
105
8 Growing Pains: 1964 to 1967
135
9 Regulating the Land Giants
161
10 The Takeover of Gulf American
207
11 GAC's Demise
222
12 After Gulf American
249
Notes
263
Bibliography
295
Index
303
Page vii
Acknowledgments
During the 1950s and early 1960s in Florida, several large land development firms began marketing Florida real estate on a national level. Four of the largest firms, in terms of money spent on advertising and promotion, were Lehigh Acres Development Corporation, General Development Corporation, Gulf Guaranty Land and Title Company (later Gulf American Corporation), and Deltona Corporation. The most aggressive in its marketing strategies was Gulf American Corporation. The vast size of its land holdings (589,738 acres) and large volume of sales ($143,862,000) gave it the distinction of being the largest land sales company in the United States.
Without question, the story of Gulf American was inseparably connected with the lives of Leonard and Julius J. Rosen. The brothers rose from selling household appliances on the installment plan in Baltimore to heading one of the largest corporations in Florida. The Rosens had little formal marketing training, but used their practical sales experiences to develop innovative strategies that were copied throughout the land industry. Besides their creativity, the brothers' dynamic personalities helped them assemble an aggressive and highly-effective sales force for Gulf American.
This book originated in my curiosity about the city in which I was living at the time I began my researchCape Coral, Florida. As a history teacher at Cape Coral High School, I discovered that much of the story of the Rosen brothers and
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