WCI delivers more good news

How good a year was it for homebuilding on the Gulf Coast?

Consider the latest results from WCI Communities, the Bonita Springs-based development and homebuilding company that survived the recession and emerged from bankruptcy reorganization in 2009.

In nine communities throughout Florida, including in Fort Myers, Bonita Springs, Venice, Bradenton and Tampa, WCI sold 461 homes totaling $185.9 million in sales last year, a 73% increase over 2011.

Its residential brokerage also helped sell 360 existing homes to generate $141.1 million in sales last year, a 229% year-over-year increase.

WCI has come a long way since New York financier Carl Icahn tried to take over the company as it struggled with the recession and eventually filed for bankruptcy protection. When it emerged from reorganization in 2009, few people expected the company to build homes again.

But the company's creditors believed the company would be better off building again instead of being carved off and sold. So far, they've been right.