Downtown Cape Coral is in line for one of the biggest construction projects in its history. The City Council on Wednesday approved the $500 million Bimini East redevelopment at the project's final public hearing, WINK News reported.
North Dakota-based Crown Development plans to build apartments, townhomes, a marina, a police substation and a bandshell. The project sits just south of Cape Coral Parkway and west of Coronado Parkway and covers 34 acres of downtown, according to a WINK follow-up.
The money
City staff said developers will invest $500 million. The city will add money through land acquisition, incentives and shared infrastructure costs, including $11 million to buy more pieces of land such as George's Garage and the Trumbull Apartments, WINK reports.
The city had already spent $45.2 million to buy land for the project, which forced some families out. Cape Coral offered up to $6,000 in rental assistance to those who qualified.
Citing Gulfshore Business, WINK reports the city and its Community Redevelopment Agency have offered Crown an incentive package that includes $45.75 million in tax increment rebates, paid only if the project is built and generates tax revenue.
City staff estimated construction alone would generate $750.9 million in economic output and more than 3,000 jobs.
"The [Community Redevelopment Agency's] purpose is to remove blight, and that's exactly what we're doing," Councilwoman Jennifer Nelson-Lastra said.
The park
The most emotional part of the debate was over Four Freedoms Park, the area's oldest park and home to a city-sponsored preschool program. The city would lease the park to the developer for 99 years at $1 a year, keeping ownership while letting the developer use it. Crown would take over utilities, taxes, repairs and maintenance.
The agreement includes a one-acre neighborhood park with tennis and pickleball courts and a children's playground, according to council documents cited by WINK. City leaders said Four Freedoms is being relocated and redesigned, though WINK's follow-up reports it's unclear where the park and its playground equipment could go.
"A park is great, but they're missing the mark," parent Ashley King told the council. "They're missing that connection." City Manager Michael Ilczyszyn said the city is looking for a new location for the preschool program and that no staff will lose their jobs.
Public input
Several speakers asked the council to wait until after the November election. Some said residents didn't get enough chance to weigh in. "The staff has been negotiating this for over a year, and then the citizens and y'all get 20 days to talk about all this," resident David Hulsey said.
Councilwoman Rachel Kaduk said she supported the project but didn't like having limited time to review the deal. Ilczyszyn noted the city held an open house for developers in June 2025 and staff presented a report to a Committee of the Whole meeting in July. The council held its first public hearing on the project Oct. 7.
"I've been through business a long time, and no relationship just goes completely on trust," Councilman Joe Kilraine said. "You have to have that contract to back it."
When construction could start
A city spokesperson said it's unclear when construction will begin. WINK's follow-up reports there's no start date, but the agreement requires construction to start within the next two years.
Why it matters for contractors
A $500 million, 34-acre downtown project with housing, a marina and public buildings touches nearly every trade. Expect demolition and site clearing, seawall and marine work, utilities and road improvements tied to the city's infrastructure cost-sharing, multifamily and townhome construction, and smaller public-building jobs like the police substation and bandshell.
The two-year start requirement gives a rough window. Crown will need to line up a general contractor, design and permitting before then, so Southwest Florida contractors who want a piece of the work should start making contact now. Coastal construction skills, from marine work to building on the water, will be in demand.
The incentive structure also matters. The $45.75 million in tax increment rebates only pay out if the project is built and generates tax revenue, which gives the developer a reason to keep construction moving.