Cape Coral is a municipality located in Lee County, Florida, United States, on the Gulf of Mexico. Founded in 1957 and developed as a master-planned, pre-platted community, the city grew to a population of 154,305 by the year 2010. With an area of 120 square miles (310 km), Cape Coral is the largest city between Tampa and Miami. It is a principal city in the Cape Coral Fort Myers, Florida Metropolitan Statistical Area. The population estimate for the statistical area was 645,899 for 2009. The city is known as a 'Waterfront Wonderland', since with over 400 miles (640 km) of navigable waterways, Cape Coral has more miles of canals than any other city in the world. Cape Coral was founded in 1957. Real estate developers Leonard and Jack Rosen purchased a 103-square-mile (270 km) tract known as Redfish Point for $678,000 in that year and, in 1958, began development of the city as a master-planned, pre-platted community.