Downtown Cape Coral Redevelopment Opportunity located on the most sought-after area in Cape Coral. The site consists of an existing office building with 17 parking spaces and vacant lot totaling .45 acres of developable land located on 47th St And SE 9th PL. Plenty of additional parking along SE 9th PL and in the City owned parking lot to the East called Club Square. The City has approved a 3.9 acre mixed-use development one street south called The Cove on 47th formally known as Village Square and plans to break ground on the 100M+ development the end of 2022. The Cove project consists of approximately 326 apartment units, 19,000 square feet of restaurant and retail commercial space. As part of the agreement, the city is contributing $20 million in sewage upgrades and $10.4 million in incentives to fund the construction of a 525-space parking garage with 125 spaces available for public use. There are plenty of approved uses including ground floor retail and multifamily development up to 10 stories and 125 units per acre. The South Cape CRAs mission is to facilitate a vibrant urban village where people of all ages will live, work, shop, dine, and be entertained. Parcel #07-45-24-C4-00355.0450 also included in this sale.
