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$120 million Bimini Basin project breaks ground

By CHUCK BALLARO - | Oct 19, 2023

City officials and dignitaries break ground on the Bimini Square project at a ceremony held Thursday in downtown Cape Coral. CHUCK BALLARO

For nearly 20 years plans and concepts were proposed for the area in downtown Cape Coral called Bimini Basin.

For 20 years, nothing came of them.

Until now.

Thursday, a ceremonial groundbreaking was held at the location of the planned $120 million Bimini Basin project that’s expected to include apartments, retail and office space, a medical facility, boat slips, access by car or boat and much more.

Community leaders and project partners came together to celebrate the new mixed-use development coming to Cape Coral in fall 2025.

An artist rendition of the planned $120 million project overlooking Bimini Basin to include 218 residential units and more than 58,000 square feet of non-residential space as well as boat slips and a 500-car parking garage. PROVIDED

Located on Cape Coral Parkway, just west of Four Freedoms Park, Bimini Square will be home to luxury apartments, a Deep Lagoon waterfront restaurant, a Lee Health medical facility and a variety of retail shops.

Larry Nygard, president of Crown Development, which will be building the project, said it was incredible to celebrate this milestone, as ground will be officially broken in the coming days.

Also incredible is the support the project has received.

“You’re going to find most of the neighbors here today endorsing the project. That’s part of the win/win of this,” Nygard said. “We’re happy to be here and excited to take this step.”

One of the main tenants will be Lee Health, which will have numerous medical services available.

In two buildings they will have medical services for adult primary care, pediatrics, cardiology, behavioral health, breast health, imaging and lab services,” said Kris Fay, chief officer of community-based care for Lee Health.

“The goal is to offer the convenience, so if you go see your physician and need a lab, you can get it all at the same time,” Fay said. “We recognize the growth in the Cape and we want to grow along with it. This is an example of our desire to expand our footprint.”

Cape Coral Mayor John Gunter called the event a great moment for the city as a transformational project that has been talked about since he moved to the city in 2007 takes flight.

“The process is difficult, but we look at the stakeholders involved. Each is a first-class organization and that’s why we have a first-class project,” Gunter said. “It brings the need of services to the community. There’s a great opportunity to bring revitalization to the area.”

Overlooking Bimini Basin, the site consists of six acres and will include 218 residential units and more than 58,000 square feet of non-residential space. Boat slips and a 500-car parking garage will allow guests to travel by land or water.

The project is expected to have its first tenants in October 2025, with a price tag of about $120 million.

Residents who came to the event expressed encouragement for Bimini Square.

Bobby Jenkins said it appears property values would go up as a result and that most residents agree with that assessment.

Others said this will be a definite plus for the community after years of talk.

“It’s great for Bimini and great for the city. Another project moving forward,” Timothy Wynne said. “A lot of people here are for it. I haven’t talked to anyone who’s against it.”