Cape Coral Real Estate Expo Offers Clues to the Housing Market’s Future

Two years ago, Florida real estate shot through the roof in Cape Coral.

It slowed at the end of 2005, leaving a surplus of homes on the market with reduced home prices. But despite lagging Florida mortgage demand, don’t count the city out, professionals adamantly say.

They have projects lined up that will continue making the city a vibrant place to live.

Anyone who wants to know more about this city’s future should feel free to join the Women’s Council of Realtors’ Cape Coral Chapter at its 13th Annual FutureScape presentation this week.

“This year we have more commercial developers speaking than we did last year,” said Gloria Tate, of Raso Reaty, the program coordinator.

“The retail and other businesses wouldn’t come into the city if they didn’t think the people would still come here to live.”

Last year, about 1,500 people attended to hear speakers such as Bill Clarke of real estate developer Bellagio Homes tell of his plans for Beach Street Square at Beach Parkway and Agualinda Boulevard.

That development could have a major impact on the city with 450 condos and 370,000 square feet of commercial space including offices, restaurants and other amenities.

People attending last year’s event gasped when Larry Simmons announced the demise of the Del Prado Inn. He and his partners unveiled a proposed 12-story, condo, restaurant, and office complex.

At least one project presented at a FutureScape in the past year is under construction, leading some residents to believe an upswing in Florida home mortgage demand isn’t far behind. The Shops at Surfside on Veterans Parkway and Surfside Boulevard have walls up.

Phil Deems of Phil Deems Real Estate, one of the presenters, has seven commercial real estate projects that he will discuss at the event.

“This is a good way to get our projects out there,” Deems said. “It is real estate professionals getting the projects out there to each other and the public.”

There promises to be a lot more news about what is out there in this part of the Southwest Florida housing market today. The 2007 presenters include, but are not limited to:

• Bellagio Homes’ Bill Clarke and his partners plan to update the crowd on their Beach Street Square at Beach Parkway and Agualinda Boulevard in southwest Cape Coral. Plans call for it to have 450 condo units and 370,000 square feet of commercial space including restaurants and a fitness club.
• Phil and Van Deems of Phil Deems Real Estate represent seven proposed mixed-use developments with office and retail space in the Cape.
• Officials with the Chamber of Commerce of Cape Coral plan to update their progress on a new building at the entrance to the Cape at the foot of the Cape Coral bridge.
• A McGarvey Development spokesperson plans to update the Mid Cape Business Park at Santa Barbara and Pine Island Road. The business park consists of 175,000 square feet of offices. Other projects could be discussed.
• Representatives of D.R. Horton, a major Florida home builder, which plans to update information on the 165-acre Bella Veda residential development at the north end of the Del Prado Boulevard extension entrance to the city.