capeedc for web - cape coral, florida

The City of Cape Coral is situated on the Gulf Coast in Southwest Florida. With a population of 154,305, it is

the largest city between Tampa and Miami. Its area of 120 square miles makes Cape Coral the third-largest

Florida city by land mass.

The area’s greatest attractions are the weather, the water, and our low cost of living and doing business.

Cape Coral’s more than 400 miles of canals and waterways give residents plenty of opportunity to live on

the water. There is no place where you can own waterfront property as inexpensively as in Cape Coral and

Southwest Florida.

Since incorporation in 1971, Cape Coral has experienced amazing growth and keeps growing at a rapid tempo. The

city is currently 43% built out and expected full build-out is in the year 2080.

Given this tremendous growth pattern, the City of Cape Coral is creating numerous development opportunities to expand upon our retail and office

space environment. Presently, Cape Coral has elevated retail leakage rates, because we didn’t have enough retailers within our city to meet the

demand of its residents.

Numerous existing retailers in Cape Coral have experienced tremendous annual sales and, in some instances, are the largest grossing stores of their

respective chains. This reflects the potential that exists for our retail market. Cape Coral is seeking to take advantage of this potential and to address

the leakage rates associated with certain retail sectors.

With this in mind, the City of Cape Coral, through its Economic Development Office (EDO), will consider customized development incentives for

qualified projects aimed at creating jobs and new investment in support of curtailing existing leakage and supporting development in key areas

identified within this document.

Executive Summary

outhwest Florida. With a population of 154,305, it is

f 120 sququare mim leles mam kes Cape Coral the thirdd-largegegeeegesttts

water, and our low cost of living and doing business.

erways give residents plenty of opportunity to live on

aterfront property as inexpensively as in Cape Coral and

ed ammazing growtht and keee ps growing at a rapid tempo. The

-out is in the year 2080.

Census 2010Projected

Made with Esri Business Analyst July 11, 2012©2012 Esri www.esri.com/ba

The Cape Coral Area Ranked:“One of the 200 Best Places for Business and Careers in the Nation“

(Forbes, 2012)

“3rd Fastest Growing U.S. Metro”

(CNN Money, 2012)

“Cape Coral/Fort Myers Metropolitan Area is 2012 Best Mid-Sized Florida City for Job Growth”

(New Geography, May 2012)

“Florida is 2nd Best State for Business”

(Chief Executive Magazine, April, 2012)

“One of the U.S. 25 Best Places to Retire”

(Forbes, 2012)

“Most Improved Florida Housing Market”

(National Association of Builders, 2011)

Executive Summary (Continued)

“With Cape Coral currently being 43% built out and a projected total population of 400,000 by 2080 – there are tremendous opportunities for the retail sector.”

Please contact the Cape Coral EDO to find out which economic incentives may be available for any

potential development you may wish to bring to Cape Coral.

The City of Cape Coral Economic Development Office offers a host of resources and connections to

help you evaluate a Cape Coral business location and connect you to commercial sites.

Detailed demographic reports and market data are available per request.

Please contact us to start your successful business in Cape Coral. We promise that you will find a

natural fit for work and play in our city.

– The City of Cape Coral Economic Development Team

Market Overview The Southwest Florida economy shows continued signs of improvement since the year 2010. The

housing market, Southwest Florida’s primary industry, is returning to a healthy state.

Home sales continued to increase as well as air traffic and hotel occupancy, new foreclosures

were down, and home prices and unemployment improved. Cape Coral new home permits

increased due to improvements in the economy, which continue to increase demand in the retail

sector. These highlights, accompanied with the recent release of the 2010 U.S. Census and BEBR

figures showing renewed growth in the Southwest Florida and Cape Coral populations, bode well

for the housing and retail industry, as well as the overall economy moving forward.

The years of plummeting real estate valuations appear over for Cape Coral. Cape Coral’s estimated

tax roll value increased 3.83 percent in 2011, the biggest increase among all 91 taxing authorities

in Lee County, according to preliminary figures furnished by the Lee County Tax Appraiser’s office.

At the beginning of the year 2012, the National Association of Builders named Cape Coral the

Most Improved Florida Housing Market.

Florida Gulf Coast University (FGCU), an emerging economic driver in Southwest Florida, has

become the largest regional school in the Southwest Florida area. Over the course of the past

six years, FGCU has added in excess of 900 students per year. FGCU officials project the student

population to be between 20,000 – 22,000 students by 2018. The growth of FGCU continues to

add a consumer base to retail centers in Lee County.

Why should you locate in Cape Coral?As the 3rd largest Florida city, Cape Coral offers more than 60 square miles of unimproved

commercial and residential land within its total 120 square miles. See what others are saying

about Cape Coral and Southwest Florida on the side panel of this page to see why pursuing a

location here makes sense for your company.

Benefits for Locating Your Business in Cape Coral include:

A Talented Workforce

Customized Economic Development Incentives

Low Cost of Doing Business

Low Taxes

Investment AreasPine Island CorridorTotal Acres: 2400Zoning: Commercial, Light Industrial, Mixed-use, Residential

Downtown CRA – Community Redevelopment AreaTotal Acres: 432Zoning: Core, Edge & Gateway, Commercial, Mixed-Use, Residential

City CenterTotal Acres: 278Zoning: Commercial, Professional, Governmental, Mixed-use, Multi-family,

Residential

Veterans Investment Zone (VIZ)Total Acres: 430Zoning: Corridor, Industrial, Mixed-Use

Concourse at Cape CoralTotal Acres: 171Zoning: C-1

For More Information, Contact:City of Cape Coral Economic Development Office

The Cape Coral Area Ranked: “3rd Most Popular U.S. City for International Home Buyers”

(The Wall Street Journal, 2011)

“Among 25 Best Places to Retire”

(Money Magazine, 2011)

“Cape Coral Ranks in Top Ten Places to Open a Business”

(Biz Journals, 2009)

“Top Mid-Sized Economic Development Hot Spot”

(Expansion Management, 2008)

“#1 for Doing Business among Cities over 100,000”

(INC Magazine, 2007)

“#1 Community in the Nation for Job Growth”

(Forbes.com, 2007)

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LegendDiplomat Commerce Park

Patriot Plaza

Concourse at Cape Coral

Shops at Surfside

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Proposed Sam's Club

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Publix Plaza at Burnt Store

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Cape Coral Retail Opportunity Sites

Pine Island Road AreaPine Island Road is one of Cape Coral’s main east-west arteries. During the last decade, numerous national chains located restaurants

and retail businesses along this eight mile roadway. Smaller local businesses and national car dealerships make this an attractive shopping

destination for local and regional consumers. A great many opportunities for additional retail locations remain in existing plazas and development

parcels. Six of the eight miles of this thoroughfare feature four lanes with the remaining two miles to the west expanding to four lanes beginning in

2013. Please contact the Cape Coral Economic Development Office to

obtain more information on development opportunities along this fast

growing retail corridor.

North Cape Retail Industry Opportunities

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Retailers & Restaurants along Pine Island Road

BJ’s TargetLowe’sBed Bath & BeyondAC MoorePetSmartSports AuthorityMichael’sKohl’s

WalmartWalgreensPublixOffice MaxStaplesStarbuck’sFive GuysOlive GardenOutback Bonefish GrillPaneraSonny’sSubway

Chili’sChick-fill-AMattress FirmRoger Dean ChevroletFucillo KiaSteak and ShakeBob Evan’sRuby Tuesday’sCarrabba’s Italian GrillDairy QueenMcDonald’s Golden Corral (Under Construction)

Proposed Pond Site Pond

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North Cape Retail Industry Opportunities (Continued)

[* = Opportunity Parcels Commercial/Retail

Pine Island Road Widening Area The Florida Department of Transportation is executing the widening of the most western 2 mile stretch of Pine Island Road to four lanes in 2013

from Chiquita Blvd. to Burnt Store Road.

The widening of the roadway makes large-scale development

of this area possible. Planned developments include a Super-

Walmart Plaza with available property for a regional shopping

and entertainment center. Parcels from 1.3 to 191 acres with direct

frontage to Pine Island road are especially attractive for retail and

entertainment businesses.

Traffic Count: Pine Island Road: 23,000 AADT Veterans Parkway: 18,700 AADT

Size of Available Parcels: Range from 1.3 to 101 acres

# Available Parcels: 19+



SW PINE SW PINE



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Area7.10 Acres

Proposed Future Development

Area7.10 Acres

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Farther east – close to Hancock Bridge Parkway – is the proposed location of a new Sam’s Club

Future Sam’s ClubTraffic count: East of Pondella Rd. 23,000

West of Del Prado Blvd. 36,000 ADT

Size of Available Parcels: 1.14-7.10 Acres

Available Parcels: 6

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Veterans Investment Zone (VIZ)

Zoning: Corridor, Industrial, Commercial,

and Mixed-Use is Optimal for Business Diversity

Outpatient Clinic: Opening in early 2013

Mixed-Use Development

120 Acre Diplomat Commerce Park: Mixed-Use Development

: Palliative Care Facility

15 Acre Army Reserve Site

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Patriot Plaza

CORBETT ROAD

HAHANHANHAHANHAN

Regional VA Clinic

Will employ 300 physicians, nurses, technicians and other medical and clerical staff

Over 260,000 veterans in Southwest Florida, expected to serve over 1,000 patients daily

Will rank in the top 5 of the 800 U.S. VA Clinics

The Veterans Investment Zone (VIZ) is one of Cape Coral’s newest economic development initiatives. The VIZ encompasses the area surrounding the

new regional VA Clinic in northeast Cape Coral on Diplomat Parkway and Corbett Road.

The clinic will be a powerful anchor for economic development and a dynamic location for medical parks and offices,assisted living facilities, retail

services and amenities, hotels, as well as light industrial enterprises. The vision for the VIZ is a vibrant village for the community, patients, staff and

visitors. The planned Army Reserve Training facility located across from the VA Clinic will be a strong resource for the VIZ, bringing in more than 200

soldiers monthly for training.

A location in the Veterans Investment Zone will afford retailers a steady traffic count from up to 1,000 daily VA Clinic visitors plus a staff of 300 clinic

employees. This largely undeveloped area borders on Cape Coral’s neighboring community, North Fort Myers.


Diplomat Commerce Park

VA Clinic

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Two commercial developments planned near the regional VA Clinic will afford businesses the opportunity to take

advantage of the synergy between healthcare services and ancillary businesses in the VIZ.

Diplomat Commerce Park This 120-acre mixed-use project is under development in northeast Cape Coral, surrounding the new regional VA Clinic at Corbett Road and Diplomat Parkway.

Development Sites Available

Research and development – 50,000 SF

Medical and other offices – 300,000 SF

Retail shops and services – 40,000 SF

Assisted living facility

Hotel – 150 rooms

Educational facility

Communications tower

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Lot 6256,507 SF

6.09 Acres

Lot 6256,507 SF

6.09 Acres

Lot 4153,874 SF

3.53 Acres

Lot 4153,874 SF

3.53 Acres

Lot 379,111 SF

1.82 Acres

Lot 379,111 SF

1.82 Acres

Lake83,619 SF

1.92 Acres

Lake83,619 SF

1.92 Acres

Dry

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Lot 269,423 SF

1.59 Acres

Lot 269,423 SF

1.59 Acres

Lot 279,719 SF

1.76 Acres

Lot 279,719 SF

1.76 Acres

Lot 5129,458 SF

2.97 Acres

Lot 5129,458 SF

2.97 Acres

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Patriot Plaza20-Acre commercial use for sale in northeast Cape Coral, fronting Pine Island Road and the new regional VA Clinic at Corbett Road

and Diplomat Parkway

Development Sites Available

Total Land Area – 20.78 acres

Zoning – CORR (corridor)

Veterans Investment Zone (VIZ) – Development Incentives

Potential Uses – Retail, Office Medical, Hotel, ALF

Gateway to New VA Clinic – Opens 2012

Traffic Count Exceeds 23,000 AADT

2,000 ft. Frontage on Pine Island Rd. & Corbett Rd.


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Concourse at Cape CoralThe Concourse at Cape Coral is ideally located in the attractive development triangle between Cape Coral, Fort Myers, and Port Charlotte.

The City owns this land and is seeking offers for public-private

partnerships.

This planned development is situated on Kismet Parkway and Cape

Coral’s main north-south artery, Del Prado Blvd. This development

opportunity is ideally located near the regional VA Clinic and U.S.

41, offering easy access to all of Southwest Florida

Planned uses include a large retail and entertainment district

nestled in unspoiled nature, offering characteristic Cape Coral

water views.

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Total Acres: 171

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Entertainment District: 50 Acres

Academic Village: 32

Zoning: C-1 (Commercial)

Mid-Cape Retail Industry Opportunities

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Shops at SurfsideThis site is strategically positioned to serve the Cape Coral, Pine

Island, and Punta Gorda areas. In addition, the site is located

amidst the highest income demographics and some of the

highest average priced home areas in Cape Coral.

Approximately 185,000 sq.ft. on 21.75 Acres

Traffic Count: 26,800 AADT Veterans Parkway, east of Chiquita

Blvd. , east of Surfside Blvd. 18,700 AADT

NW corner of Veterans Pkwy. and Surfside Blvd.,

at the entrance to the Sandoval residential

community, an upscale Bonita Bay Properties

site with 1,569 units and another 300-500 units

to be added over the next five years.

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Mid-Cape Retail Industry Opportunities (continued)

Veterans Parkway & Santa Barbara BoulevardThis is a 7+ acre development consisting of two lots. One lot is City owned (former Fire Station) and one is privately owned. Must be developed

as one with the City lot serving as the parking lot for the development.

Across Veterans Parkway is a Plaza featuring Target, Lowes, Publix, Subway, McDonalds, BB&T Bank, and Ruby Tuesday. The remainder is

bordered by Santa Barbara Blvd. and residential neighborhoods.

Zoning: C-1 (Commercial)

Retail Plaza

Traffic: Veterans Pkwy. East of Santa Barbara Blvd. 45,200 AADT/Veterans Pkwy. West of Santa Barbara Blvd. 38,400 AADT/Santa

Barbara Blvd. south of Veterans Pkwy 22,900 AADT/Santa Barbara Blvd. north of Veterans Pkwy. 23,000 AADT

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Coralwood Shopping Center on Del Prado BoulevardCoralwood Shopping Center is located on one of the busiest intersections in Cape Coral, just north of the Veterans Memorial

Parkway bridge that leads across the river near to Fort Myers.

This location has the highest traffic counts in all of Cape Coral.

Del Prado Boulevard & Veterans Memorial Parkway

Traffic: 51,300 AADT

Center Size: 343,000 SF anchored center

Key Tenants: Bealls, JC Penney, Marquee Cinema & LA Fitness

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South-Cape Retail Industry OpportunitiesDowntown CRA Project: Village SquareVillage Square will be an upscale, mixed-use residential project in the city’s South Cape Community Redevelopment Area. These quality

residential units will serve people who wish to live near attractive downtown-style amenities such as dining, entertainment and shopping.

Traffic: Cape Coral Bridge: 42,200 AADT

Cape Coral Pkwy.: 37,800 AADT

South CapeAs the historic city center, South Cape has

unique attributes and assets that can be

capitalized on to serve as the foundation for

future development. Currently, South Cape

retail opportunities are primarily driven by

residents in the CRA and the surrounding area

within a broader trade region. High commuter

traffic runs through the CRA on Cape Coral

Parkway, one of the main thoroughfares from

and to Fort Myers and the beaches.

As a key implementation element of the CRA’s

2030 Vision Plan, new regulations specifically

provide property owners, builders, and

developers with a faster approval process

and greater flexibility in how they develop or

redevelop. The CRA’s Vision Plan is to create a

downtown district that is rich with activities

and a desirable shopping and entertainment

destination for both residents and visitors.

For information about available properties, investment opportunities, and economic development incentives

for qualifying projects, please contact the City of Cape Coral Economic Development Office.

The EDO provides detailed demographic reports, industry analyses, market data and current

zoning information for available commercial business sites.

Please contact us for a natural fit for work and play in our city.

– The City of Cape Coral Economic Development Team

Phone: [email protected]

City of Cape Coral Economic Development Office

capeedc for web - cape coral, florida

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