Groundbreaking commences on Cove at 47th in Cape Coral

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CAPE CORAL, Fla. — Change is coming to the South Cape Coral area as developers for the Cove at 47th project broke ground on the $103 million project.

This mixed-use project will bring in more than 300 luxury apartments, 19,000 square feet of retail and office space and a nearly 600-space parking garage. The Cove at 47th has been discussed for almost six years but has had several delays due to construction costs.

The developer for the project, Brian Prince, says he expects this project to bring in more than 170 jobs to the area.

“The number one question that big corporations are asking before they relocate to a new area is ‘where are my people going to live?’”, said Prince. “If you don’t have an attractive housing option in an urban walking environment, it makes it tough for you to compete in the Fort Myers, Naples, Tampa, these other places.”

As it relates to the residential portion of this project, Prince says the goal is to allow people to afford to live here but also enjoy the amenities it comes with.

“Average rent at this development will be just around $2,000. We’ll have a mixture of studios, 1’s and 2 bedroom apartments and a couple of 3’s will be our penthouse on the top,” Prince said. “So our studios will be in at $13-1400 range. So it gives you an opportunity to get into the development and experience all of the great amenities that we have to offer. Heated resort-style, saltwater pools, we’ve got concierge, we’ve got fitness centers, a rooftop amenity deck for the residents that’s no charge, watch the great sunsets that’s to the west. So we are very excited about offering price points for everybody within the development.”

PREVIOUS COVERAGE: Developers gearing up to break ground on ‘The Cove at 47th’ in Cape Coral

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The project is set to be completed by 2024. 

Tags: apartmentsCape CoralConstructionThe Cove at 47th

 

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