‘Catch the Vision’ highlights pending Cape projects
Presentation featuring commercial, multi-family development plans re-airing on Cape TV; available on YouTube
Upcoming projects and developments in Cape Coral were highlighted Tuesday night as part of the 10th annual “Catch the Vision – Tips, Trends & Forecasting.”
This year’s virtual installment of Cape Coral’s growing real estate market, forthcoming arrivals, new trends and what to expect in the coming months and beyond aired on Cape TV and the Cape Coral Chamber of Commerce’s YouTube channel.
Cape Coral Construction Industry Association Executive Director/CEO Bill Johnson Jr. and JBM Consulting President Joe Mazurkiewicz produced yet another entertaining tag-team performance full of one-liners and pertinent information.
The event is usually held in November, but was reformatted due to concerns related to the continuing pandemic. Organizer and realty expert Gloria Tate of Raso Realty said this virtual event is to make up for some lost time and get residents caught up. She also noted they expect to hold an in-person event this November if all goes well.
“I’m very pleased with the way we were able to put the production together,” Tate said. “I think it was the perfect way to get the presentation out to the public during these times. I hope that customers and clients of other agents will look at it and see all of the potential here in Cape Coral. When you see all of the dollars that are coming in, it’s very impressive.”
Tate said Catch the Vision is information for both residents of the community as well as local real estate community members.
“Cape Coral is on the cusp of hitting 200,000 residents and we’re in our next 50-year plan, so you need to know where we’re going as a city when you move here,” Tate said. “This helps fill people in on what the future looks like for Cape Coral, what plans are in store, where the best place to invest in a home that will fill your need. This type of information helps people make an informed decision.”
Developments coming to one of the fastest-growing cities in America that were highlighted included:
– Fairfield Marriott Hotel: a 109-room, 60,000-square-foot hotel at 1701 Old Pondella Road. The hotel is set to open this month with a construction value of $4,466,000 and total cost of $13 million.
– Cape West 91 Villas: a multi-family project just underway in Southwest Cape Coral. A clean, coastal, contemporary courtyard style complex rising four stories that includes 91 units. Projected completion date is the first quarter of 2022. Total value of the project is roughly $15.5 million.
– D&D Marina Boat Ramp: a five-acre city-owned property adjacent to Matlacha in unincorporated Lee County. The city has plans to construct a park, as well as create additional boat slips for the ever-popular recreational activity. Improvements via grant dollars include added safety measures, the relocation of the boat ramps from the west end to the east, a park and potential restaurant depending on future Cape Coral City Council decisions. The implementation of these improvements is slated to be discussed further with council this month.
– Pine Island Park: a 40,000- to 60,000-square-foot mixed-use project with warehouse flex space, retail and office at Pine Island Road and Northeast 13th Avenue. The project is currently in permitting phases with a to-be-determined value, hoping to break ground this year.
– Victory Park: a mixed use project that includes a 125-room Wyndham Garden hotel, commercial space, 100,000 square feet of medical office and industrial space at 2419 Corbett Road, just west of the VA Medical Clinic. The construction value is to be determined and the project is currently in phase 1 permitting.
– Island Pearl: a mixed-use development featuring lifestyle, retail, business, dining and entertainment at the northwest corner of Pine Island Road and Burnt Store Road. Construction value is to be determined. The project is currently in permitting and projected to break ground in late fall of this year or in spring of 2022.
– Madison Square: an 82-unit senior living (55+) seven-story apartment community on 1 acre of vacant land at 817 Miramar St. The project is currently in permitting and expected to break ground in spring of 2021. Construction value is $1,060,000.
– Aspire Apartments: a 319-unit, four-story multi-family complex at 3514 Chiquita Blvd. South with many amenities on site. The project is currently in permitting with a to-be-determined construction value and overall value of $54 million. The project expects to break ground in the next 60 days.
The presentation (that is available to watch back on YouTube and Cape TV) wrapped up with an interview with new City Manager Rob Hernandez.
Hernandez discussed the hustle and bustle of commercial development in Cape Coral along Pine Island Road, Del Prado Boulevard and other sections of the city.
“(And) there’s more to come,” Hernandez said.
The city’s Economic Development Office is focusing on what they call “business development” — which Hernandez said is all about attracting new businesses and helping those existing businesses in the city grow and flourish.
“Our strategy looks at providing assistance to businesses that are here or are relocating to Cape Coral,” Hernandez said. “We also outlined a strategy to create a pilot program to attract the creative industries to the city, mostly in the South Cape area. We feel that that area is inducive to attract musicians, artists, architects — things of that nature — those types of businesses that want to be in an environment where they have access to other creative types and more of an urban setting.”
Hernandez said they are also working to assist developers in coming to the Cape.
“We need developers to come into the Cape and provide the product that is desperately needed to keep up with our growth,” he said.
Hernandez said some of the most-needed acquisitions include flex space, light industrial space and office space. He also mentioned the need for large developments that become a destination for visitors, residents and/or workers.
Tate said she was encouraged by the message from the city manager on the direction of Cape Coral going forward and is excited to present even more upcoming developments at the November event.
“There are some really big projects that we weren’t able to announce that will be revealed in November,” Tate said. “Not just residential or apartments, but alternative options such as gated communities.
“There are also five projects coming up for the South Cape that will redefine the South Cape. It’s very exciting to look forward to.”
Tate is hopeful they can hold an in-person event but will return to the virtual format if necessary.
Catch the Vision will air on Cape TV again Feb. 22 at 5 p.m. Feb. 24 at 8 a.m. and March 9 at 7 p.m.
Or visit YouTube and search “Catch the Vision” to watch the full presentation on the Chamber of Commerce of Cape Coral page.
–Connect with this reporter on Twitter: @haddad_cj