Downtown Village Square City of Cape Coral FL City Approved $130,000,000 Mixed Use Project In Downtown Cape Coral With City Incentives Annette M. Barbaccia, Commercial Mgr. Tel. 239 850-8301 abarbaccia@ambpl.com
Downtown Village Square – Live, Work & Play The Downtown Village Square project, a transformational initiative, is the future of Cape Coral’s downtown. A mixed use project it will include 152 Multi-Family units, 251,546 s.f. of commercial building, a six story parking garage with 938 parking spaces and a vibrant public square. The project covers an entire City block and fronts Cape Coral Parkway, a major arterial into and out of the City and the pedestrian friendly SE 47 th Terrace, which recently underwent a major streetscape improvement. SE 47 th Terrace is the heart of the City’s downtown where public events, such as art fest, new years eve, bike night and July 4 th festivities are held. Restaurants and entertainment venues line this active corridor.
SE 47 th Terrace Streetscape Project The property is located within the City’s South Cape Redevelopment Community Area (CRA), which enables a significant range of commercial and residential development. The land use district, Downtown Mixed (DM) , and the zoning district South Cape (SC) allow a high density and intense mixed-use development. The range of uses include: multi-family, hotels, retail, restaurants, breweries, office, community facilities, assisted living, movie theatres and other commercial uses.
DOWNTOWN VILLAGE SQUARE 845, 851, 859 & 877 Cape Coral Pkwy E. Cape Coral Pkwy E. & 826 SE 47 th Terrace, Cape Coral, FL 33904 • 120 Square Miles • Largest City Between Tampa & Miami • Located in Lee County FL • Forbes Ranks Cape Coral #1 Fastest Growing City • Population: 180,000 • Seasonal: 40,000 • 200 Miles Gulf Access Canals Subject Property • 200 Miles Freshwater Canals
Downtown Village Square City Approved: Mixed use project consisting of 152 residential units and 251,546 ft 2 of commercial development, public square, and 938 Space Parking Garage Location: 845, 859 & 877 Cape Coral Pkwy E and 826 SE 47 th Terrace, Cape Coral, FL 33904 Area: 3.94 acres Utilities: City Water & Sewer TIF: $28 Million FEES: Application & Impact Fee Credits $5.3 Million
Development Site Club Square Parking Lot SE 47 th Terrace Cape Coral Parkway
Site Plan Building E Building D Building C Building A Building B 938 parking spaces provided FAR = 1.46
Mix of Uses by Building Retail Office Restaur- Theater TOTAL DU (ft 2 ) (ft 2 ) ant (ft 2 ) (ft 2 ) (ft 2 ) Building 7,492 72,375 -- -- 79,867 -- A Building 21,571 -- 10,345 13,352 45,268 10 B Building 31,278 36,592 13,169 -- 81,039 24 C Building 5,317 -- -- -- 5,317 112 D Building 29,870 -- 10,185 -- 40,055 6 E TOTAL 95,528 108,967 33,699 13,352 251,546 152
PUBLIC & ECONOMIC BENEFITS Total Economic & • 127 Dedicated Public Parking Spaces Public Benefit ($2.9 Million) • Maintenance of Public Spaces for 20 years $2.9 Million ($2.18 Million) $2.18 Million $1.0 Million • 2,000 s.f. of Police Sub-Station ($500,000) $125,000 • 2,000 s.f. of City Office Space ($500,000) $6.205 Million • Contribution To Affordable Housing Subtotal (Public) Program ($125,000) • New Jobs - 871 Direct & Indirect Jobs $62.9 Million • $62.9 Million Output $25.4 Million $94.5 Million • $25.4 Million Wages TOTAL AMB Plan annin ing Consul sultan ants
Building A: North Elevation
Building A: West Elevation
Building B: North Elevation
Building C: North Elevation
Building D: North Elevation
Building D: East and West Elevations
Building E: North Elevation
Landscaping Plan
Lee County Population Projections to 2040 1,200,000 1,000,000 800,000 600,000 400,000 Peak Population 200,000 Projected Total Resident Population Total Resident Population 0 2 CCIM Outlook Conference – February 11, 2019 4
Lee County Population Projection by Age Group Age % Increase Group (2017-2040) 0-24 39% 25-64 35% 65+ 67% Total 44% 2010 2017 2020 2025 2030 2035 2040 2 0-24 25-64 CCIM Outlook Conference – February 11, 2019 5
Market Conditions 4 th Qtr 2018 Office Southwest Florida
Market Conditions 4 th Qtr 2018 Retail Southwest Florida
Recommend
More recommend
