Developer out to transform Cape;
Realmark's 'gateway' wins shift in zoning

News-Press, Saturday April 27, 2002

By Pamela Smith Hayford

One of Cape Coral's most prestigious developers gave the city its first glimpse Wednesday into plans for the city's largest development to date.

Realmark Group owner Will Stout calls it the new "gateway to the city," a community that will serve not only Cape Coral but Fort Myers and North Fort Myers as well.

He envisions an elaborate, Mediterranean-style footbridge over Del Prado Extension greeting motorists as they drive in from the north.

The 670 acres straddling the extension at U.S. 41 would have 1,500 to 1,700 homes-single-family, multifamily, villas, coach homes-in the $149,000 to $449,000 range.

In a drawing presented to the city's planning and zoning commission Wednesday, lush green areas and winding lakes meander through the property.

A path connects the community to the city's 440-acre Major Park.

About 67 acres at the corners of Del Prado Extension and U.S. 41 would be shops and offices.

"This is very conceptual. We haven't finalized anything," said Pete McGough, director of development for Realmark. In fact,

Realmark hasn't bought the property yet. It's under contract to do so and expects to close in November, Stout said.

Wednesday was just the first step. The commission unanimously approved vacating most rights of way and changing the zoning of the property from large single-family lots that allowed 2.2 units per acre to a residential development, which includes single- and multifamily units.

The banks would not loan Realmark the money to buy the land from owner Avatar under the old zoning, McGough said. No one would back the old zoning, said city senior planner Forrest cotton. "This is without a question a unique opportunity to deal with some of the burdens we inherited," Cotton said. Now Realmark will work with Cape Coral to create a planned development blueprint before the end of the year.

Commissioner Eugene D. Wolfe Sr. called the project the most innovative since the city's inception.

"It would sure change the image," Wolfe said.

That's exactly what Stout wants to do. "What the Realmark Group is all about is changing the image of the city," said Stout, the developer of Meta and Cape Harbour. "We don't see Cape Coral as a bedroom community to Fort Myers. We see it as the newest big city in Florida."