Waterfront restaurants, two hotels, a marina, shopping, and up to 900 residences are all part of an ambitious new development that could completely reshape downtown Cape Coral.
Some pretty big changes could be coming to downtown Cape Coral!
A massive $500 million waterfront development called Bimini East is moving closer to approval, with plans to transform approximately 34 acres in the South Cape into a walkable destination filled with restaurants, shopping, hotels, residences, and public gathering spaces.
And we’re not talking about a small addition to the downtown area. This would be one of Cape Coral’s most significant redevelopment projects to date.
The proposal recently advanced through its first public hearing on October 7, with a final hearing scheduled for October 21, 2026.
Here’s everything we know so far.
What Is Bimini East?
Bimini East is a proposed mixed-use development located just south of Cape Coral Parkway East, near Bimini Basin and Four Freedoms Park.
The project is being led by Crown Development and Bimini Basin Redevelopment Company LLC, with the goal of transforming a large section of downtown into a destination where people can live, shop, dine, work, and enjoy the waterfront.
If the developer sounds familiar, it’s because Crown Development is also behind nearby Bimini Square, which opened earlier this year with luxury apartments, dining, healthcare offices, and marina access.
Bimini East would take that waterfront redevelopment concept to an entirely different level.
What’s Planned for Bimini East?
According to the latest plans presented to Cape Coral City Council, the estimated $500 million development could include:
- Up to 900 residential units, including condominiums, townhomes, and apartments
- Two nationally branded hotels with approximately 250 rooms combined
- 130,000 square feet of retail and restaurant space, including opportunities for waterfront dining
- Approximately 265,000 square feet of medical and general office space
- A marina with at least 50 boat slips, including public access
- Parking garages with at least 2,000 spaces
- An outdoor performance bandshell and public gathering areas
- A reimagined Four Freedoms Park and additional green space
- A new police substation
One of the most exciting aspects of the proposal is its emphasis on creating a walkable downtown district.
The vision includes pedestrian-friendly streets, outdoor dining, gathering spaces, and connections between Bimini Basin and nearby developments.
Imagine spending the afternoon shopping downtown, grabbing dinner along the waterfront, catching live music, and enjoying views of the marina, all within walking distance.
That’s the type of destination developers are hoping to create.
Of course, the plans are still subject to approval, and individual restaurant, retail, and hotel tenants have not yet been finalized.
Will Bimini East Have Condos for Sale or Apartments for Rent?
For those interested in living in this new waterfront district, there’s some exciting news!
Bimini East is expected to include residential opportunities for both buyers and renters.
During the developer’s July 29 presentation, Crown Development President Larry Nygard outlined plans for a variety of housing options, including:
- Condominiums for sale: Offering buyers the opportunity to own a residence within the new downtown waterfront development.
- Townhomes for sale or rent: Providing another residential option for those interested in living in the community.
- Apartments for rent: Traditional rental residences for those who prefer flexibility without purchasing a property.
The developer originally discussed approximately 700 to 900 residential units, while the latest proposed development agreement allows for a maximum of 900.
The exact number of condominiums, townhomes, and apartments has not yet been determined.
One notable difference between Bimini East and nearby Bimini Square is that Bimini Square offers rental apartments, while Bimini East’s residential vision also includes opportunities for homeownership.
For prospective buyers, the combination of waterfront access, walkable restaurants and shopping, and proximity to downtown Cape Coral could make the new residences especially appealing.
Interested in owning or renting a residence at Bimini East?
Pricing, floor plans, presale opportunities, and availability have not yet been announced, but we’re keeping an eye on this development as more information becomes available.
We’ll share additional information as it becomes available, including residential pricing, floor plans, and sales or leasing announcements.
Join the Interest List
Please note that residential plans are preliminary and subject to change.
A New Waterfront Destination for Cape Coral
For a city known for its extensive canal system and boating lifestyle, the proposed marina could become one of Bimini East’s biggest attractions.
Under the proposed agreement, the marina would feature at least 50 boat slips, with at least half available for public use. Some could also accommodate boat rentals or ferry services.
Waterfront restaurants, public gathering spaces, and pedestrian connections are intended to make the area appealing to both residents and visitors.
The plans also call for hundreds of dedicated public parking spaces, although parking fees could apply.
If completed as envisioned, Bimini East could become a new place for locals to spend an evening out or visitors to experience a different side of Cape Coral.
What Will Happen to Four Freedoms Park?
One of the biggest conversations surrounding Bimini East involves the future of Four Freedoms Park, a longtime waterfront gathering place for Cape Coral families.
Under the proposed agreement, the city would lease the park to the developer for 99 years at just $1 per year.
City officials say the property would remain a public park, retaining its name and public recreational use, but the space would be redesigned as part of the larger redevelopment.
The proposal also includes an additional approximately one-acre park with a playground and two tennis courts.
However, not everyone is enthusiastic about the changes.
Some residents have raised concerns about preserving the park’s peaceful waterfront atmosphere, the future of existing recreational programs, increased traffic, and the overall scale of development.
The city’s plan would relocate current programming at Four Freedoms Park, and officials are still working to identify an appropriate alternative location for its daycare program.
Supporters, meanwhile, see the redevelopment as an opportunity to improve public amenities, attract investment, and create a more active downtown waterfront.
It’s a conversation that will likely continue as the project moves through the approval process.
Why Is Cape Coral Investing in This Project?
Bimini East is part of a larger effort to revitalize the South Cape.
Following Hurricane Ian, the city began acquiring properties in the area with the goal of assembling a large enough site to attract a major redevelopment project.
The city ultimately acquired dozens of parcels, clearing much of the site for future construction.
The proposed agreement includes the sale of city-owned land to the developer and significant financial incentives tied to the project’s progress.
One of those incentives is a tax-increment rebate program capped at approximately $45.75 million.
Rather than receiving the full amount upfront, the developer would qualify for rebates based on new property-tax revenue generated by the improvements, subject to the agreement’s requirements.
City leaders hope the investment will help strengthen Cape Coral’s commercial tax base, attract new businesses, create jobs, and encourage additional development downtown.
However, the public financial commitments and long-term use of city property have also been points of concern among residents.
When Will Bimini East Be Built?
While Bimini East has made significant progress, construction is not yet underway under the proposed development agreement.
Cape Coral City Council held the first of two required public hearings on October 7, advancing the proposal to its final hearing.
The next major decision is scheduled for Wednesday, October 21, 2026, at 4 p.m., at Cape Coral City Hall, 1015 Cultural Park Boulevard.
If the agreements are approved and the required closing conditions are met, the developer would be required to submit initial civil engineering permit applications within six months of closing.
The proposed timeline also calls for the first phase of construction to begin within 24 months of closing, with additional development occurring in later phases.
Developers have described a phased project unfolding over approximately 10 years.
This is a long-term development, and no official opening date or residential sales launch date has been announced.
A New Chapter for Downtown Cape Coral?
There’s no denying that downtown Cape Coral has been changing.
Between Bimini Square, The Cove at 47th, Slipaway Food Truck Park & Marina, and now the proposed Bimini East development, the South Cape is seeing significant new investment.
Bimini East could bring another wave of restaurants, entertainment, waterfront activities, and residential opportunities to the area.
And unlike some mixed-use developments that consist primarily of rental apartments, Bimini East’s proposed combination of condos, townhomes, and apartments could offer opportunities for both homeowners and renters to experience downtown waterfront living.
Whether residents welcome the ambitious vision or worry about how it may change the character of their community, one thing is certain: This is a project worth watching.
With a final public hearing approaching, the next few days could help determine the future of one of Cape Coral’s most prominent redevelopment sites.
We’ll continue following the project and sharing updates as more details become available.
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