Catalyst For Change | The Cove at 47th to open first of five phases in mid-August
A highly-anticipated development in the South Cape will be ready to house tenants next month.
The Cove at 47th, at 870 S.E. 47th Terrace, will open its first of five phases in mid-August, with the subsequent phases rolling out monthly.
The first phase will include the opening of 109 units, first floor amenities, pool courtyard, and parking garage.
“We’re very, very excited,” said property manager Katie Leppert, of being able to welcome tenants. “We’ve been waiting for this for a while. We’re ready to get people moved in and get going.”
Cove officials said the $103 million mixed-use project is poised to “redefine luxury living in the region and significantly enhance the city’s dynamic atmosphere.”
Just over a week ago, a tour of the property was had by Cape Coral Mayor John Gunter, Flaherty & Collins Properties CEO David Flaherty, Director of Construction at Owen Key Construction Services Jason Weldon, Councilmember Keith Long, Cape Coral District 6, and Cape Coral City Manager Michael Ilczyszyn.
The Cove at 47th features 327 luxury apartments, ranging from studio to three-bedroom units, each designed with “cutting-edge aesthetics and premium amenities.” Units feature stainless steel appliances, luxury wood-style vinyl flooring, quartz countertops, LED lighting, private balconies, gig-speed Wi-Fi, keyless unit entries, and expansive glass windows to maximize natural light. The project also includes a 585-space parking garage, with 125 spaces allocated for public use, enhancing accessibility and convenience for both residents and visitors. Decisions on whether the parking garage will be free to use is still being decided.
Flaherty shared his enthusiasm for the project, stating in a release, “The Cove at 47th is set to become the premier walkable, live-work-play, mixed-use luxury apartment development in Southwest Florida. This project would not have been possible without the public-private partnership between Flaherty & Collins Properties and the City of Cape Coral. We applaud the City for its pivotal role in making this development a reality, creating an economic impact worth hundreds of millions of dollars for Cape Coral.”
The development also features 19,000 square feet of commercial retail space on the ground floor, set to house future tenants such as Oak & Stone Craft Beer and Artisan Pizza, Seed & Bean Market, and Big Nick’s Barbecue. Aqua Seafood and Steaks will anchor the retail space, offering a rooftop bar and a high-end dining experience.
When it comes to when each restaurant will open, Leppert said each establishment’s opening date will vary on when they complete construction individually.
“We’re guessing spring of (2025),” she said.
The Cove at 47th phases, anticipated opening dates, and what they will feature include:
• Phase 1 – Aug. 16: 109 units, first- floor amenities, pool courtyard, parking garage
• Phase 2 – Sept 5: 74 units, fifth floor amenity terrace
• Phase 3 – Oct. 14: 90 units
• Phase 4 – Oct. 24: retail terrace
• Phase 5 – Jan 3: 54 units
Leppert said what makes The Cove a great place to live is the walkability factor in the downtown Cape Coral area.
“This area is so popular already,” she said. “To be able to live and walk to the entertainment and restaurants is going to be huge.”
Some studio apartments will come partially furnished and feature an Ori Cloud bed, which is a bed that will retract up into the ceiling when not in use.
“It’s a great option for someone that works at home, or someone that may not want to have to worry about getting their own bed or desk,” Leppert said. “The bed is very unique. At the push of a button, it goes up to the ceiling, and when it’s in the ceiling, a desk comes out.”
Community amenities at The Cove at 47th are “designed to support a lifestyle of convenience and luxury” including a 7,500-square-foot amenities space and a 1,500-square-foot rooftop amenity lounge. These areas feature a heated saltwater pool, secured co-working spaces, a state-of-the-art fitness center, rooftop sky lounge, pet spa, and more.
“The Cove development is a catalyst for change, set to revitalize our downtown area and drive economic growth for the city and local businesses,” Gunter said in a release. “We eagerly await its completion, anticipating the multitude of opportunities it will bring and shaping a brighter future for Cape Coral.”
Huntington Bank is the lead lender for the project, with Centier and First Financial participating. The general contractor for The Cove at 47th is Deangelis Diamond, with Baker Barrios serving as the architect.
For prospective tenants interested in The Cove at 47th, email coveat47th@flco.com or visit its leasing office at 4707 S.E. 9th Place.