REAL ESTATE: Hog Alias Honeymoon

Year ago a shrewd, rich St. Petersburg, Fla. real-estate promoter named Clinton Mozley Washburn picked up a subtropical island for a figurative song. Three hundred acres of tangled mangrove, pine, palm and sandy beach, just off the Florida Gulf Coast 23 miles northwest of Tampa, the property (Hog Island to the natives; Caladesi to mapmakers) apparently wasn't worth much in the nude. Promoter Washburn, who holds a big backlog of Florida real estate (including some $250,000 worth of cheaply bought Gulf Coast property), saw possibilities in Hog Island.

With the onset of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!