CAPE CORAL, Fla. — The groundbreaking for a new mixed-use complex in Cape Coral, which took place on Tuesday at 10 a.m., has the potential to serve as the starting point for a construction boom in the city.
The Cove at 47th will be located at the intersection of Cape Coral Parkway East and SE 8th Court. The project is estimated to cost 66 million dollars and will have resort-style amenities in addition to luxury apartments, retail space, and office space.
Sharon Woodberry, who works for the Department of Economic and Business Development in Cape Coral, has high expectations that it would entice new tourists while also encouraging locals to remain in the city.
“We believe that it will attract a younger demographic and create a workspace and energy that we have not had before,” she said.
The city’s administrators anticipate that this project will result in more housing growth, as well as future business and entertainment districts.