Cape Coral's Expanding Market Prime For Development
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CAPE CORAL DEMOGRAPHIC HIGHLIGHTS
- Fast Growth. Cape Coral is one of the fastest growing cities in the U.S. experiencing a 2 percent growth rate annually
- 8th Largest City in State of Florida. It is also the 8th largest city in the State of Florida with nearly 200,000 residents
- Miami to Tampa. Largest city located between Miami and Tampa
- Getting Younger. Median age is 42 and declining as more newcomers arrive, especially millennials
- Ranked one of the safest cities in the state of Florida (WalletHub)
- Ranked one of the 50 safest cities to raise a child (Safewise.com)
- Ranked one the best U.S. cities to start a business (Inc. 2020 Surge Cities)
- Cape Coral Metro Area listed as one of the Top 10 fastest-growing cities in the nation (Forbes Magazine, 2018)
CAPE CORAL DEVELOPMENT HIGHLIGHTS
Industrial and Office Parks Key to Economic Growth in the Cape. Industrial and Office Parks are key to the success of Cape Coral economy. Cape Coral has a need for these types of parks and is hoping to expand these areas in the Cape.
Pine Island Road Corridor Experiencing a Building Boom. This State Highway stretches more than 20 miles from Interstate 75 to Pine Island/Matlacha and supports more than 30,000 vehicles daily. The corridor is witnessing a major development boom with more than $200M in private development either under construction or in planning scheduled to break ground over the next 12-18 months. There is an estimated 300 acres of undeveloped land remaining along the corridor. There is approximately 10-20 sites available and for sale with the average size of 15-20 acres.
South Cape/CRA - The Heart of Cape Coral. To spur continued investment in the South Cape, the City and the Community Redevelopment Agency (CRA) are progressing with plans to develop the Bimini Basin area. Future projects in the South Cape include decorative street lighting, marina day-use slips, parking improvements, and other features that will enhance property values, increase the district’s revenue, attract new business and expansion of existing businesses.
Burnt Store Road - the Future for Economic Development. The Burnt Store Road Corridor extending approximately 8 miles northward from Pine Island Road to the Charlotte County line represents the future of economic development in the Cape. Approximately 850 acres of undeveloped properties are available for acquisition and development from near Kismet Parkway to just north of Durden Road. There are between 6-8 privately-owned and one publicly owned undeveloped properties available for sale. The City and private developers are looking for ways to deliver water and sewer to the 850 plus acre sites.
Northeast Cape along Del Prado Blvd On the Move. Just south of Highway 41, there are 3 large commercial sites available for acquisition and development. These sites offer easy access to Interstate 75 via Highway 41 and lend themselves well to supporting office parks, light industry and retail centers.
The City can consider tailor-made incentives for new, expanding or relocating companies as well as for new developments. Incentives may include:
- Employment Incentives
- Deferral of Impact Fees
- Synthetic TIF
- Infrastructure Grants
Cape Coral is home to nearly 400 miles of navigable canals, more than anywhere else in the world. At 120 square miles, this Southwest Florida city is the third largest by land mass in the state. With a consistently growing population of 200,000, Cape Coral is only halfway built out, so there’s plenty of space for new residential, retail, office/tech, industrial and mixed-used projects. With a projected growth of more than 400,000, the city is only 47% built out today with room to grow.
The Sunshine State consistently ranks among the top 10 best states for its cost of doing business because there is no state income tax, and Florida offers a competitive workforce environment and streamlined, pro-business regulations.
Click Here to download comprehensive market reports of SWFL commercial and residential activity provided by LSI Companies, Inc.
- LSI Market Trends: A quarterly report for the homebuilding and land development industries in SWFL
- LSI Commercial PULSE: A quarterly report detailing commercial real estate activity in SWFL, including office, retail, and industrial
The Cape Coral Economic Development Office (EDO) tracks emerging industries, demographics, market conditions and workforce data, and offers incentives for startups, relocations and expansions. Today’s market conditions are ripe for investing in and relocating your business to Cape Coral. Contact the EDO team to find the ideal site.