Hey, it’s a new year and, once we clear this series of cold fronts, things will be warming up in Cape Coral. That may be, in part, because of the hot real estate market.
The Cape’s economic Development Office reports single-family home sales in Lee County rose to 1,648 units in December 2020, an increase of 425 units (35 percent) from December 2019. Lee’s median price rose from $262,000 to $315,000 over the same period.
In 2021, two long-delayed projects are returning to the forefront as utilities have been completed in parts of the city. We’ve already told you about the Stonewater development of about 338 homes moving forward on the lakefront property at the corner of Tropicana Parkway and Nelson Rd. This project by Windham Development Group, with DR Horton involvement, should be breaking ground soon.
Just to the south of the Stonewater property is 86.7 acres of property that works its way among several small lakes in the woods just off Embers Parkway and Nelson Road. Known as Embers Lakes, this 1,310 unit apartment complex of 4 story buildings, is in the early planning process between developers and city staff. This project had been on the back burner for several years but is now moving forward.
The previous depiction of Embers Lakes, similar to what is being proposed is shown here.