Excitement is building in South Cape Coral as The Cove at 47th gears up to open its doors. Located at 870 SE 47th Terrace, this highly-anticipated development is preparing to unveil its first phase in mid-August, with subsequent phases set to roll out monthly.
The initial phase will introduce 109 modern units, complete with essential amenities such as a pool courtyard, first-floor facilities, and a parking garage. "We’re thrilled to welcome our first residents," said property manager Katie Leppert. "The anticipation has been building, and we're eager to start moving people into their new homes."
Recently, Cape Coral Mayor John Gunter, Flaherty & Collins Properties CEO David Flaherty, Owen Key Construction Services Director Jason Weldon, Councilmember Keith Long, and Cape Coral City Manager Michael Ilczyszyn toured the site, underscoring the project’s significance.
The Cove at 47th will feature 327 luxury apartments, offering a range of options from studios to three-bedroom units. Each apartment is designed with high-end finishes including stainless steel appliances, luxury wood-style vinyl flooring, quartz countertops, LED lighting, private balconies, gig-speed Wi-Fi, and keyless entries. The development also includes a 585-space parking garage, with 125 spaces designated for public use.
Cape Councilmember Keith Long, Cape Coral District 6; Jason Weldon, director of Construction at Owen Key Construction Services; Cape Mayor John Gunter; City Manager Michael Ilczyszyn; Flaherty & Collins Properties CEO Davi
Flaherty emphasized the project's impact, stating, “The Cove at 47th will set a new standard for walkable, mixed-use luxury living in Southwest Florida. This public-private partnership has been crucial in bringing this vision to life, promising significant economic benefits for Cape Coral.”
In addition to luxury living spaces, The Cove at 47th will feature 19,000 square feet of commercial retail space on the ground floor. Future tenants include Oak & Stone Craft Beer and Artisan Pizza, Seed & Bean Market, and Big Nick’s Barbecue, with Aqua Seafood and Steaks anchoring the space with a rooftop bar and upscale dining options. Restaurant openings will vary based on individual construction timelines, with a tentative completion in spring 2025.
Here’s a breakdown of the development phases:
Phase 1 – August 16: 109 units, first-floor amenities, pool courtyard, and parking garage.
Phase 2 – September 5: 74 units and a fifth-floor amenity terrace.
Phase 3 – October 14: 90 units.
Phase 4 – October 24: Retail terrace.
Phase 5 – January 3: 54 units.
Leppert highlights the walkability of the downtown Cape Coral area as a major advantage of living at The Cove. “Living here means you can easily walk to entertainment and dining options, enhancing the overall lifestyle.”
Unique features of some studio apartments include partially furnished units with an Ori Cloud bed, which retracts into the ceiling to create more space. This feature is ideal for those who work from home or prefer a flexible living environment.
Community amenities at The Cove at 47th are tailored for luxury and convenience, including a 7,500-square-foot amenities space, a 1,500-square-foot rooftop lounge, a heated saltwater pool, secured co-working spaces, a state-of-the-art fitness center, a rooftop sky lounge, and a pet spa.
“The Cove is a catalyst for change, revitalizing our downtown area and driving economic growth,” said Mayor Gunter. “We’re excited for the many opportunities this project will bring to Cape Coral.”
The Cove at 47th represents a $103 million investment in Cape Coral, with Huntington Bank as the lead lender and Centier and First Financial participating. Deangelis Diamond is the general contractor, and Baker Barrios serves as the architect.
For more information or to inquire about leasing, visit the temporary leasing office at 4707 S.E. 9th Place, Cape Coral, FL 33904, or email coveat47th@flco.com.
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4020 Del Prado Blvd S. Unit B2, Cape Coral, FL 33904
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