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Cape Coral ready for return of Red, White & Boom celebration
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Red, White and Boom s fireworks going off no matter the weather
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Two developments planned for downtown Cape Coral area
Published: June 9, 2021 4:02 PM EDT
Updated: June 9, 2021 4:49 PM EDT
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Two new developments are now in the planning stages for downtown Cape Coral.
An empty lot on Bimini Basin will turn into a $50 million project set to bring 185 apartments, commercial space, a parking garage and a waterfront restaurant.
An empty lot between Cape Coral Parkway and SE 47th Terrace will turn into 280 apartments, retail, office space and another garage. That project is called the Cape at 47th.
Both projects will break ground next year.
“Empty-nesters and millennials they’re looking for, it’s all about options, they’re looking for options when it comes to housing,” said Cape Coral City Manager Rob Hernandez.
Two areas off Cape Coral Parkway in south Cape Coral could be changing in dramatic fashion over the next two years with two apartment complex projects totaling at least $114 million in construction costs in the planning stages.
The City of Cape Coral has promised a combined $17 million in tax rebate incentives for the two projects, which were dubbed “Project Dolphin” and “Project Hoosier” but will be getting new, official names moving forward.
“This is going to change the face of Cape Coral Parkway,” said Ricardo Noguera, manager of the city’s Economic Development Office. “I expect more developers will come in. This will be a catalyst for attracting more developers to the south Cape. Because of its location, it’s key to the revitalization of the south Cape. It’s going to provide more parking to benefit businesses in the area.”
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