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CAPE CORAL ECONOMIC DEVELOPMENT

FOR IMMEDIATE RELEASE Cape Coral Economic Development Office

(239) 574-0444

Unique Waterfront Development Opportunity Developers Sought for Seven Islands in Cape Coral

Cape Coral, Fla., January 7, 2019 — A much-anticipated mixed-use project proposed for

Northwest Cape Coral called Seven Islands will be marketed nationally this year following the

recent approval of a partnership between the Cape Coral City Council and CBRE.

There is an approved development plan for the seven rectangular-shaped “islands” connected to

the mainland for a mixed-use project on the 61-acre site along Old Burnt Store Road. After

significant citizen and stakeholder input, the approved design includes 995 residential units—

both multifamily/condo and single-family homes—a 240-room hotel or resort with a 25,000-

square-foot meeting space, public amenities and commercial development.

The city envisions this exciting economic development project as a regional destination. The

council approved the design plan for the city-owned acreage in November 2016 and approved

the contract with CBRE in October 2018 to find developers who are interested in this public-

private partnership.

Cape Coral is a terrific family and vacation oriented destination which includes over 400 miles

of navigable waterways, more miles of canals than any other city in the world. Forbes listed the

Cape Coral metropolitan area as the ninth fastest-growing in the U.S. in 2018 and one of the

“Best Places for Business and Careers.”

CBRE Executive Vice President Michael McShea said, “Cape Coral’s city leadership is

progressive and business-oriented. They have led a thoughtful process to develop the Seven

Islands and their goal is to create a dynamic, waterfront destination for citizens and visitors

alike.” CBRE is creating marketing materials and will issue a request for qualifications and a

request for proposals (RFP) by spring. After the review of qualifications, selected, eligible

developers will be invited to respond to the RFP. A development contract is expected to be

awarded in the fall of 2019.

CBRE is a Fortune 500 and S&P 500 company headquartered in Los Angeles, Calif. It is the

world’s largest commercial real estate services and investment firm.