City Hosts South Cape Development Workshop on September 12
The City’s Economic Development Office is hosting a Development Workshop on Thursday, September 12 from 8 a.m. until noon. The event will take place at the Vineyard Church, which is located at 923 SE 47th Terrace. Interested developers and the general public are invited to attend the workshop.
The purpose of the event is to promote mixed-use and multi-family development in the South Cape, which is rapidly becoming a destination for new restaurants and downtown living. The City seeks to attract multi-family and mixed-use development in its Community Redevelopment Area (CRA) by encouraging developments with potential tax increment financing and incentives.
“There are opportunities to help fill financial gaps with the use of tax increment financing for select developments in the CRA”, said Economic Development Manager Ricardo Noguera. “Ultimately, the City seeks to establish a pedestrian-friendly South Cape with an assortment of restaurants and retail and new multi-family housing and office opportunities. The City and CRA plan to attract office development and employers to the South Cape with an assortment of incentives.”
The City’s Economic Development Office will share development opportunities in the CRA and highlight some of the incentives that are available to developers. Other presentations will include, Keith Wolfe of Wolfe & Associates, which completed a multi-family study that identifies the need for more than 1,200 multi-family units per year in Cape Coral. Local architect Art Castellanos will share information about a development scenario involving a mixed-use project on a 30,000 square foot plot of land. The City’s Department of Community Development Director Vincent Cautero also will share highlights of the new zoning designations to promote higher density development in CRA. The City recently increased densities in the South Cape to 100 units per acre and heights up to 120 feet in order to enable developers to increase density and building heights.
For more information, please contact Economic Development Manager Ricardo Noguera at (239)-233-7427 or via email at RNoguera@capecoral.net.