Cape Council to discuss development proposals for the Yacht Club park
Two public-private partnership plans proffered
Yacht Club Unsolicted P3 Proposal Comparison –
KMB Marine – P3 Proposal – Cape Coral Yacht Club – REV 8-24-26
Kearns and Forest FINAL_P3_Proposal_City_of_Cape_Coral
The city of Cape Coral has received a pair of unsolicited proposals for development of the Yacht Club Community Park.
Cape Coral City Council will discuss the two public-private partnership proposals at Wednesday’s workshop with one proposing inclusion of a luxury hotel, recreational amenities and townhomes, and the other a hotel/community/convention center and parking garage. Both include a rebuild of the marina and related facilities and public access to the riverfront.
The initial Request for Information for the Yacht Club redevelopment had a due date on Feb. 12 of this year.
It received no responses.
The unsolicited proposal for the development of the marina from Forest Development and Yacht Club Development Group was received in March 2026 with the required $25,000 payment.
“Yacht Club Development Group currently maintains a 30-year concessionaire agreement with the City of Cape Coral to operate the full-service restaurant, bar, and fuel services at the Cape Coral Yacht Club,” the letter of interest from Peter Baytarian of Forest Development and Zak Kearns of the Yacht Club Development Group states. “In addition, our team has maintained a longstanding and successful partnership with the city for more than 13 years through the operation of The Boathouse Tiki Bar & Grill, a full-service waterfront restaurant, bar, marina fuel dock, and destination gathering place that has become a cornerstone of the Yacht Club Distinct.”
Their proposal includes integrating a waterfront destination with key elements such as activation of the marina with events and programming; four-star luxury resort style hotel; destination waterfront dining and hospitality; integration with the broader Cape Coral Yacht Club redevelopment; public waterfront access and recreational amenities; custom single family townhomes; ship store and additional waterfront marina restaurant operation.
Forest Development and YCDG will fund boardwalk construction; fixed and floating docks; pump-out station; law enforcement dockage; harbormaster and marina operations facility; approximately 50% of fueling station costs; hotel; retail; parking and automated boat storage, which is an estimated capital investment for more than $250,000,000.
Forest Development and YCDG is seeking a 99-year lease from the city with options to purchase fee simple, a waterfront hotel proposed under a separate 99-year ground lease with option to purchase fee simple; hotel ground rent starts at opening of hotel to paying guests and the proposal also states public waterfront assets remain publicly owned through a long-term ground lease
The other unsolicited proposal was submitted by KMB Marine and Yacht Club of the America’s. It was received in May 2026 for the development of the marina, parking garage and harbor master building, which also includes the intent of adding a hotel/community/convention center later.
The letter of intent from KMB Marine and its operating affiliate Yacht Clubs of the Americas, proposal includes a redevelopment plan that will “reconstruct the slip harbor in accordance with the Kimley-Horn Master Plan, rebuild all boardwalks and floating docks, construct a new fueling station within our concession area, build a 685-space parking garage and build a new administration building with harbormaster offices, leasing offices, law enforcement facility, and ship store.”
The letter of interest stated that the estimated $30 to $33 million will be funded entirely by KMB Marina and its capital partners.
The scope includes 130 leasable wet slips, including 35 quipped with boat lifts; parking garage; boardwalks and fixed docks; floating dock system; fueling station; a six to seven-story 125 room hotel with Bowden Hospitality that includes an event annex, a two-story waterfront restaurant; administration building; law enforcement building; law enforcement dockage; day-use and transient slips; pool complex; public boat ramps; North Canal slips and boardwalk and staging slips and pump-out station.
KMB Marine and YCOA propose a 99-year long-term concession lease for construction, operation and maintenance of marina facilities; city retains full ownership of all land and improvements at all times and all improvements constructed by KMB become city property at termination or expiration of the lease.
City staff recommends to move forward with KMB Marine and YCOA for negotiation. The recommendation is based on higher modeled IMPLAN total output – $48.85 million output from the $33 million construction input, compared with $29.61 million from Forest and YCDG’s $20 million construction input; KMB proposes no real property acquisition – city retains ownership of land and improvements; clearly defined marina scope and revenue and protections identified.
The workshop will be held at 9 a.m. Wednesday, Sept. 30, in City Council chambers, 1015 Cultural Park Blvd.
The meeting is open to the public.
To reach MEGHAN BRADBURY, please email mbradbury@breezenewspapers.com