Downtown Village Square

City of Cape Coral FL

City Approved $130,000,000 Mixed Use Project

In Downtown Cape Coral With City Incentives

Annette M. Barbaccia, Commercial Mgr.

Tel. 239 850-8301 abarbaccia@ambpl.com

The Downtown Village Square project, a transformational initiative, is the future of

Cape Coral’s downtown. A mixed use project it will include 152 Multi-Family units,

251,546 s.f. of commercial building, a six story parking garage with 938 parking

spaces and a vibrant public square. The project covers an entire City block and

fronts Cape Coral Parkway, a major arterial into and out of the City and the

pedestrian friendly SE 47th Terrace, which recently underwent a major streetscape

improvement. SE 47th Terrace is the heart of the City’s downtown where public

events, such as art fest, new years eve, bike night and July 4th festivities are held.

Restaurants and entertainment venues line this active corridor.

Downtown Village Square –Live, Work & Play

SE 47th Terrace Streetscape Project

The property is located within the City’s South Cape Redevelopment Community Area

(CRA), which enables a significant range of commercial and residential development.

The land use district, Downtown Mixed (DM), and the zoning district South Cape

(SC) allow a high density and intense mixed-use development. The range of uses

include: multi-family, hotels, retail, restaurants, breweries, office, community

facilities, assisted living, movie theatres and other commercial uses.

Subject Property

DOWNTOWN VILLAGE SQUARE 845, 851, 859 & 877 Cape Coral Pkwy E. Cape Coral Pkwy E.

& 826 SE 47th Terrace, Cape Coral, FL 33904

• 120 Square Miles

• Largest City Between Tampa &

Miami

• Located in Lee County FL

• Forbes Ranks Cape Coral

#1 Fastest Growing City

• Population: 180,000

• Seasonal: 40,000

• 200 Miles Gulf Access Canals

• 200 Miles Freshwater Canals

City

Approved: Mixed use project consisting of 152 residential

units and 251,546 ft2 of commercial development,

public square, and 938 Space Parking Garage

Location: 845, 859 & 877 Cape Coral Pkwy E and

826 SE 47th Terrace, Cape Coral, FL 33904

Area: 3.94 acres

Utilities: City Water & Sewer

TIF: $28 Million

FEES: Application & Impact Fee Credits $5.3 Million

Downtown Village Square

Cape Coral Parkway

SE 47th Terrace

Club Square

Parking Lot

Development Site

Site Plan

938 parking spaces provided

FAR = 1.46

Building A

Building E

Building D

Building C Building B

Retail

(ft2)

Office

(ft2)

Restaur-

ant (ft2)

Theater

(ft2)

TOTAL

(ft2)

DU

Building

A

7,492 72,375 -- -- 79,867 --

Building

B

21,571 -- 10,345 13,352 45,268 10

Building

C

31,278 36,592 13,169 -- 81,039 24

Building

D

5,317 -- -- -- 5,317 112

Building

E

29,870 -- 10,185 -- 40,055 6

TOTAL 95,528 108,967 33,699 13,352 251,546 152

Mix of Uses by Building

PUBLIC & ECONOMIC BENEFITS

• 127 Dedicated Public Parking Spaces ($2.9 Million)

• Maintenance of Public Spaces for 20 years ($2.18 Million)

• 2,000 s.f. of Police Sub-Station ($500,000)

• 2,000 s.f. of City Office Space ($500,000)

• Contribution To Affordable Housing Program ($125,000)

• New Jobs - 871 Direct & Indirect Jobs

• $62.9 Million Output

• $25.4 Million Wages

AMB Planning Consultants

Total Economic & Public Benefit

$2.9 Million

$2.18 Million $1.0 Million

$125,000 $6.205 Million

Subtotal (Public)

$62.9 Million $25.4 Million $94.5 Million

TOTAL

Building A: North Elevation

Building A: West Elevation

Building B: North Elevation

Building C: North Elevation

Building D: North Elevation

Building D: East and West Elevations

Building E: North Elevation

Landscaping Plan

2

4

Lee County Population Projections to 2040

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Peak Population

Projected Total ResidentPopulation

Total Resident Population

CCIM Outlook Conference – February 11, 2019

2

5

Lee County Population Projection by Age Group

2010 2017 2020 2025 2030 2035 2040

0-24 25-64

Age

Group

% Increase

(2017-2040)

0-24 39%

25-64 35%

65+ 67%

Total 44%

CCIM Outlook Conference – February 11, 2019

Market Conditions 4th Qtr 2018 Office Southwest Florida

Market Conditions 4th Qtr 2018 Retail Southwest Florida