Seven Islands Development in Cape Coral Florida
Unique Waterfront Development Opportunity in Cape Coral
What’s unique about this opportunity for developing residential, retail, commercial and public spaces in Cape Coral is that the Seven Islands property is 100% owned by Cape Coral. This means the Cape Coral land assemblage is already done and developers can confidently make detailed proposals for the Gulf Access waterfront project.
Cape Coral Press Release, January 2019
A much-anticipated mixed-use project proposed for Northwest Cape Coral called Seven Islands will be marketed nationally this year following the recent approval of a partnership between the Cape Coral City Council and CBRE.
There is an approved development plan for the seven rectangular-shaped “islands” connected to the mainland for a mixed-use project on the 61-acre site along Old Burnt Store Road. After significant citizen and stakeholder input, the approved design includes 995 residential units—both multifamily/condo and single-family homes—a 240-room hotel or resort with a 25,000-square-foot meeting space, public amenities and commercial development.
The city envisions this exciting economic development project as a regional destination. The council approved the design plan for the city-owned acreage in November 2016 and approved the contract with CBRE in October 2018 to find developers who are interested in this public-private partnership.
CBRE Executive Vice President Michael McShea said, “Cape Coral’s city leadership is progressive and business-oriented. They have led a thoughtful process to develop the Seven Islands and their goal is to create a dynamic, waterfront destination for citizens and visitors alike.” CBRE is creating marketing materials and will issue a request for qualifications and a request for proposals (RFP) by spring. After the review of qualifications, selected, eligible developers will be invited to respond to the RFP. A development contract is expected to be awarded in the fall of 2019.
CBRE is a Fortune 500 and S&P 500 company headquartered in Los Angeles, Calif. It is the world’s largest commercial real estate services and investment firm.
Cape Coral is a terrific family and vacation oriented destination which includes over 400 miles of navigable waterways, more miles of canals than any other city in the world. Forbes listed the Cape Coral metropolitan area as the ninth fastest-growing in the U.S. in 2018 and one of the “Best Places for Business and Careers.”