Pine Island Village under way
After nearly two years of planning, Pine Island Village broke ground Wednesday morning.
The Class A office and retail development along the northeast Pine Island Road corridor that will feature four large fountains and a gazebo as its centerpiece is expected to have Phase 1 completed by the end of the year.
The property, just west of Mel’s Diner in Cape Coral, will feature 269 parking spaces surrounding one 2-story office building with 12,350-square-feet available and two retail buildings, with 9,340-square-feet. A second office building located on the north end of the property will offer 14,500-square-feet for use. Each retail building will offer one drive-thru available to national, regional and local retailers.
“It was meant to be something different in the Cape. It was meant to bring a new atmosphere here to the Cape,” said developer of the project, Ray Masciana. “It was meant to congregate people and be a family, and that’s what we’re trying to do.
“We have a huge gazebo, 200-plus seating — tenants really have great amenities (gazebo, fountain) here where they can bring those tenants here, advertise and increase their bottom line. There is no other center here in the city of Cape Coral that can do that, but we can.”
In total, four buildings will be constructed as four different phases. Phase 1 includes office space with some retail, Phase 2 and 3 are both retail buildings and Phase 4, the largest of the buildings and located at the north end of the property will be for a “special tenant,” Masciana said.
“We really wanted to bring this atmosphere to the city and we’re looking for special tenants that can really bring in some new people to the city and use our village as a center where you can bring people through and sit down and bring life into the community,” Masciana said.
Carlos Acosta of Commercial Real Estate Services and Masciana’s partner on the project, said they currently have six letters of intent from tenants, but could not reveal who they may be. Pine Island Village also is offering 50 percent off of the first years rent for the first four tenants that execute a lease agreement with Acosta in building one.
“We are looking for the two front units right up here on Pine Island Road for two anchor tenants on each side,” Acosta said.
Built Right General Contractors is constructing the project.
“It’s going to be great, it’s going to be big,” Masciana said. “It’s completely unique. There’s no retail development in the city of Cape Coral that has amenities like this shopping center does. We’re giving(tenants) at atmosphere, a product that they can use to support their business.”
Acosta believes the special look of Pine Island Village will draw prospective businesses to the Cape and want to call their space home.
“This is going to become a destination,” Acosta said. “Tenants can also say, ‘I’m at the property with the fountains.’ It’s going to be a landmark and there’s nothing like that here in the Cape, it’ll be the first of its kind.”
The village is seven-acres total in size, as Masciana purchased the land shortly before his vision started becoming a reality two years ago.
Masciana is also the mind behind bringing the Nathan’s Famous Hot Dogs to Cape Coral and Fort Myers.
Up front and center will be fountains on four corners, centered by the gazebo. Pedestrians will be able to walk across and through the gazebo to get to different sections of the village.
“We’ve been waiting for this for a long time and we’re very excited about it,” said Nita Whaley, business recruitment/retention specialist for the city of Cape Coral Economic Development Office. “This is a project that is much needed in Cape Coral.”
This project is part of a “boom” along Pine Island Road.
The “spine” of the Cape saw major development over the last year and residents can expect more.
The Pine Island Road corridor sits in the heart of Cape Coral and is a state highway that stretches more than 20 miles from Interstate 75 westward to Pine Island. On a daily average, more than 30,000 cars travel Pine Island Road.
“Over the next year, we expect to have over $200 million in new projects and development that will be breaking ground along our Pine Island corridor,” Whaley said.
The EDO will even be hosting an “Economic Development Showcase on Pine Island Road” this April to inform the community on what they can expect to see along the corridor in the coming months, as well as attracting prospective developers to the area.
The showcase will be held April 28 at Grace Church at 13 SE 21st Place in Cape Coral from 8-11:30 a.m..
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