The Cape Coral landscape is poised for a significant transformation with the introduction of the Gulf Gateway proposal, which aims to revamp the Seven Islands area located west of Old Burnt Store Rd., between Embers and Tropicana Parkway. On February 23, 2022, the Cape Coral City Council reviewed an ambitious plan by Forest Development Acquisition LLC, selected as the top developer for this eagerly awaited project. Discussions between the city and Forest Development began in September 2021.
The Gulf Gateway Resort and Marina Village, as envisioned by Forest Development, is a mixed-use development project. It will feature a blend of hotel accommodations, dining options, commercial spaces, and residential units, all in alignment with the D-1 plan approved by the City Council in November 2016. The Seven Islands Zoning District, established in 2019 with input from the NWNA, limits the development to 995 residential units with a maximum building height of eight stories or 115 feet. This zoning was designed to create a vibrant, multi-use neighborhood that would serve as a destination in Northwestern Cape Coral.
The City Council has expressed support for the Gulf Gateway proposal, provided that commercial and hotel construction are prioritized in the initial phases, alongside the residential elements. Lawrence Zabik, the project manager for Forest Development, has indicated that some adjustments to the plan could be made to meet the city's expectations. He emphasized that the D-1 plan remains a solid foundation and that they will work collaboratively with the city to implement it. The entire project is expected to unfold in phases over approximately 10 years, with construction potentially commencing as early as late 2023. Upon completion, it will accommodate around 2,500 new residents in Cape Coral.
Forest Development, led by Peter Baytarian, is known for its expertise in real estate development. The company is behind the Nautilus 220 project, a 330-unit waterfront development in Lake Park near Palm Beach. The Gulf Gateway project is anticipated to mirror the success of Nautilus, though it will adhere to local zoning regulations. Forest Development forecasts that the project will create approximately 9,500 jobs during the construction phase, involving a $650 million investment and generating an economic impact of $1.6 billion through job creation, income, and economic activities. Once completed, it is projected to provide about 650 permanent jobs, including 400 direct and 250 indirect positions.
The upcoming steps involve the city declaring the Seven Islands as surplus property and finalizing a sale and purchase contract, with potential approval as early as March or April. A development agreement is expected to be approved by June or July. Throughout the project's progression, the city plans to hold monthly meetings with developers to ensure transparent communication, akin to the collaborative approach Forest Development had with Lake Park during the Nautilus project.
The project team comprises 33 experienced businesses, including east coast firms such as R and N Architecture and Insite Studios Landscaping, and Katz Construction from Palm Beach. Local contributors include Hans Wilson Marine from Ft. Myers, known for extensive marina projects, and Avalon Engineering and Gates Construction, both well-regarded in the local area. Scott Dunlap, a property developer with a substantial local portfolio, is also a key partner in this project.
NWNA President John Bashaw expressed enthusiasm for the project, viewing it as a potential benchmark for mixed-use development in Cape Coral. While opinions among Northwest residents vary, with some supporting and others opposing the development, the general consensus favors responsible and thoughtful growth.
"The development will be a lengthy and ongoing process," Bashaw remarked, "but I'm confident that all stakeholders will collaborate effectively to create a high-quality destination in Cape Coral."
The Seven Islands development covers approximately 48 acres, including seven islands and 46 adjoining properties along Old Burnt Store Road. The area is bordered to the west by the Spreader Canal, to the north by the St. Michel Canal, to the east by Old Burnt Store Road, and to the south by Southwest 2nd Street.
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People also ask:
What is the seven islands project?
Where are the 7 islands in Cape Coral?
The Seven Islands development is located in the southwest area of the Northwest Cape. The Seven Islands development is approximately 48 acres including seven 'islands' and 46 adjoining properties located along Old Burnt Store Road.
Is Cape Coral its own city?
Cape Coral is a city located in Lee County, Florida, United States, on the Caloosahatchee River near where it flows into the Gulf of Mexico. It was founded in 1957 by brothers Jack and Leonard Rosen and developed as a planned community.
How many canals does Cape Coral Florida have?
In land mass, Cape Coral's 120 square miles make it the largest city in Southwest Florida and the third largest in the state. 2. With over 400 miles of canals, Cape Coral has the most extensive canal system of any city in the world.
4020 Del Prado Blvd S. Unit B2, Cape Coral, FL 33904
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