Economic development projects pending in South Cape
Booming business is always in-season in Cape Coral, and while some wait for the permit backlog to shake free, other projects in the city are taking a step forward, or even changing hands.
A pair in the city’s South Cape are now at the forefront of what’s pending.
The Cove at 47th — a luxury mixed-use development at 870 Southeast 47th Terrace — is set to break ground on Aug. 24 at 10 a.m.
The project replaced the former “Village Square” mixed-use development that was in the works for more than a decade. Indianapolis-based developer Flaherty & Collins Properties, which is highly experienced in developing urban mixed-use development projects, is poised to break ground on the $66 million dollar development.
“The Cove at 47th will be a catalyst to South Cape just like the Street Scape project was to S.E. 47th Terrace,” said Cape Coral Community Redevelopment Agency Chair Linda Biondi. “This will be an amazing addition and hopefully will be the start of wonderful things to come.”
The project consists of 285 apartment units, consisting of studios, one-, two- and three-bedroom units; 19,000 square feet of restaurant space including a rooftop bar, and a 525-space parking structure with 125 spaces reserved for the public on the two lower levels of the garage.
Another massive project just about ready to break ground in Cape Coral is Bimini Square. Biondi said it is her understanding that project will break ground in the fall. Bimini Square is a more than 500,000-square-foot site on the doorstep of Bimini Basin.
Larry Nygard, president of Crown Development out of West Fargo, North Dakota, purchased the land in August of 2020. This is his third development in the Cape, the others being Cape at Savona and The Club on Pine Island.
Bimini Square is set to bring new housing, Lee Health facilities, and restaurant to the city. The $80 million project is planned for location on the west side of Bimini Basin between the water and Cape Coral Parkway, between Palm Tree Drive and Sunset Court. Bimini Square’s residential component encompasses 280,885 square feet, features 198 apartments and five-story buildings.
There is to be a six-story parking ramp and facility that encompasses 150,000 square feet with 504 stalls. Nygard said in an earlier report there are plans for a rooftop resort-style pool on the top floor above the garage, complete with cabanas, overlooking the Bimini Basin.
Apartments are branded “upscale” ranging from studio apartments to three bedrooms. Residential amenities include granite countertops, tile backsplash, under cabinet lights, tile walk-in shower, high-speed Internet, vinyl plank flooring, stainless steel appliances, and balcony. Some premium units include two balconies. Apartment square-footage in select units nears 1,700.
Planned community amenities include a pet park, pet spa, concierge, hammock cove, fire pits, outdoor lounges, fitness center, EV charging stations, open workspaces, parlor games, and a secure community.
“This will be another huge project that will expand our area,” Biondi said. “Most people think that just Southeast 47th Terrace is South Cape (the CRA) but we encompass a lot more. Bimini Square will be waterfront dining, retail, apartments and a Lee Health facility right here in South Cape.”
Lee Health will have 78,769 square feet to its name at Bimini Square, made up of inpatient and outpatient services, along with housing for medical staff.
It includes a four-story building on the corner of Palm Tree Drive and Cape Coral Parkway attached to the facility. The first two stories are designated medical officer services and some hospital outpatient services, with the other two being apartments for clinical workers.
One of the grocery industry leaders has announced the opening of its new Cape Coral location on Aug. 18 at 2615 Santa Barbara Blvd.
ALDI officials said the new store is part of the retailer’s aggressive expansion plan, keeping the company on track to be the third-largest U.S. retailer by store count by the end of the year.
The store will be open daily from 9 a.m. to 8 p.m. The first 100 customers will receive a gift bag filled with a sampling of ALDI Fan Favorites products and a gift card as part of the ALDI Golden Ticket gift card giveaway program. Shoppers can also enter a sweepstakes for a chance to win a $500 ALDI gift card.
“Our stores are designed to make grocery shopping smarter, faster and easier, and we’ve been voted the price leader for five years running,” said Chis Hewitt regional vice president for ALDI. “We have served this community for more than 5 years and are excited to continue to offer Cape Coral residents an affordable way of shopping.”
For more information about ALDI, visit aldi.us.
One of the fastest-growing retailers in the country will soon finish construction on a new location in Cape Coral.
Sprouts Farmer Market, a unique open-layout grocery experience with fresh produce at its core, plans to open on Oct. 7 at 7 a.m. at 1800 Northeast Pine Island Road.
Sprouts is bringing approximately 100 full and part-time career opportunities to the area. Their healthy approach to grocery shopping means potential team members should share a passion for the fresh, natural and organic products offered throughout the store. Those interested in positions at the new Cape Coral store will have two opportunities to apply: virtually today, Aug. 12, and in-person from 8 a.m. to 6 p.m. on Aug. 23 at the Crowne Plaza in Fort Myers (13051 Bell Tower Drive).
To learn more about open positions and team member benefits, or to apply, visit sprouts.com/careers or call 1-866-925-2396 for non-managerial roles.
“Sprouts welcomes shoppers with a farmer’s market experience and open layout featuring fresh produce at the center of the store,” officials stated. “Innovative, seasonal and attribute-driven products such as organic, plant-based, keto, paleo and more offer a treasure hunt shopping experience amid Sprouts’ healthy assortment.”
For a list of stores by region or to see other locations coming soon, visit sprouts.com/stores.
Kia Dealership changes hands… again
For the second time in as many years, the former “HUGE” Kia dealership owned by Billy Fucillo has been sold.
According to documents filed with the U.S. Securities and Exchange Commission, LMP Automotive Holdings, Inc., a Delaware corporation, agreed to pay Fucillo’s group $36 million in late 2020 for the Cape Coral and Port Charlotte dealerships, along with $33 million in real estate.
LMP Automotive Holdings, Inc. announced in a release this week it has entered into dealership and real estate asset sale agreements to sell its Kia dealerships in Cape Coral and Port Charlotte, as well as other dealerships in West Virginia. The Company anticipates the closing of the sale will occur in October of this year, subject to the terms of the agreements and numerous conditions precedent to close. According to SEC documents, LMP automotive Holdings, Inc. is selling the dealerships and real estate for $133 million.
“The Board and the management team all believe that given the diversified nature of our portfolio, pursuing multiple transactions with different potential buyers for assets or groups of assets presents the best opportunity to maximize stockholder value,” stated Sam Tawfik, chief executive officer and chairman, in the release. “We believe that the Plan of Liquidation will maximize stockholder value as we continue to sell our remaining assets. Management believes that upon finalization of the Plan of Liquidation we expect that the Company will be able to distribute approximately $115 million to $126 million to shareholders.”