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Islamorada Community alliance

Advocacy For Residents, Education and Preservation



The Islands of Islamorada Sold - Homes or Resort?

27 Jul 2026 10:58 AM | Anonymous


Real estate investment firm Mast Capital, in partnership with Koch Real Estate Investments, has announced the acquisition of The Islands of Islamorada, the controversial development directly behind the Islamorada Post Office.


The new owners plan to sell at least some of the 22 homes individually, with Ocean Sotheby in Islamorada already marketing several, starting at $3.8 million.  


History: Twenty-two homes, permitted as 4 bedroom/4 bath single family residential homes, were completed on the property in 2017.  Later an adjoining 8 unit hotel was added to the project. The 22 homes have vacation rental licenses.  The property was built as 4 bedroom/4 bath single family homes, replacing Pelican Palms, a mobile home park once located there.


Van Cadenhead effort: The controversy began when a Village street, DeLeon Avenue, was abandoned from the Old Highway to the Ocean and deeded to the property owner who owned on both sides of DeLeon. The abandonment created a large contiguous parcel where the 22 homes were built. Through the persistence of then community activist and one time resident of Pelican Palms, Van Cadenhead, a public walking right-of-way was granted, from the Old Highway through the new project to the ocean, in exchange for the elimination of DeLeon Ave that previously provided public access to the water. A pedestrian gate along the Old Highway provides public access to the walking path.  


More recently: The Village Planning Director affirmed that even though Vacation Rental licenses issued for the 22 individual single-family homes prohibit rentals of less than seven days, the homes at the Islands of Islamorada can be rented nightly.

 



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Islamorada Community Alliance

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