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BUILDERS
SAY CAPE STILL HOT PROPERTY BY JEFF
CULL The real estate business is still blazing hot in Cape Coral. Of course, the nearly 150 real estate agents, builders, mortgage brokers and citizens who attended FuturesCape on Tuesday evening didn't need a group of Cape developers to tell them that. Still, it must feel good to hear the big players say it. And say it they did during the annual look at the Cape's real estate industry. Will Stout, developer of The Marina at Cape Harbour, Entrada and a new project surrounding Judd Creek in northeast Cape Coral, said he's so confident in the city's real estate boom that he's adding more product to his line. "We're going to let you in on a couple of corporate secrets," Stout teased the crowd. Then he told them that he'll start construction on a new high-rise condominium project in The Marina at Cape Harbour in the south Cape by the end of the year. He also said he plans to build a commercial retail center, similar to Page Field Commons in Fort Myers, on Del Prado Boulevard at the northern end of his Entrada project in the northeast Cape. Not to be outdone, Jim Crumbie, one of the developers of Tarpon Point Marina - also in the south Cape - said his firm will start constructing the first of three 14-story condo buildings in May. "We're excited about the future of Cape Coral," he said. He added that 50 of the 70 units in the first building are already sold. Crumbie said the company's first residential project, Tarpon Gardens, has only eight units remaining out of 120. Those homes went for between $350,000 and $600,000. Officials from Coral Lakes developer Transeastern Homes said their sales center will open next month off Del Prado Boulevard in northeastern Cape Coral. The company is marketing two single-family home phases now with prices from about $150,000 to $200,000 and up. Transeastern plans to build 600 single family homes, said Marc Schneiderman, the company's division president. "This is really a very special place," he added. But it was Stout who really wowed the crowd. He announced that he'll propose to the city council that he build a grand entrance to the city on Pine Island Road from North Fort Myers. It will be similar to the entrance monument he gave the city on Del Prado Boulevard near U.S. 41, if local governments can work out an agreement. "It would also look very nice at the entrance to the city from the Cape Coral Bridge," Stout added. The ovation from those in the audience said they agreed. |