Flaherty & Collins Properties To Develop Downtown Mixed-Use Project in Cape Coral, FL

CAPE CORAL, FL – Flaherty & Collins Properties has signed a letter of intent with the City of Cape Coral, Florida on a public-private partnership to develop a mixed-use project in downtown Cape Coral. The 3.9-acre project would include 280 apartments, 18,000 square feet of ground-floor retail or office space, and a 525-stall parking garage with the first two floors reserved for public use.

“This is a really exciting project,” says Brian Prince, Vice President of Development for Flaherty & Collins Properties and lead project developer. “A core downtown mixed-use multifamily project in downtown Cape Coral will be transformative for the City, where residents can live, work and play all in the same area. Plus, Southwest Florida is a market we’re bullish on and have been working to get into for a number of years.”

Cape Coral Economic Development Manager Ricardo Noguera said the project would help transform south Cape. The City and F&C will now begin finalizing a development agreement.

“We’re basically creating a downtown and going vertical,” said Noguera. “We already have a full-service supermarket there, we have drugstores there, we have restaurants, so the missing piece are the residents.”

Dubbed “Project Hoosier” by the City, Flaherty & Collins Properties will be developing the site that was long supposed to be Village Square in downtown Cape at the corner of Cape Coral Parkway East and SE 8th Court, across from Corksoakers restaurant.

“It’s gonna bring tons of people and you know it’s just all good for us,” Corksoakers owner Bob Mulroy said. “We’re looking forward to it, we just can’t wait.”

The project is aiming for a Fall 2023 completion.