On March 8, 2016, the Real Estate Investment Society of Southwest Florida (“REIS”) held its monthly luncheon with keynote speaker Cape Coral Mayor Marni Sawicki providing an insight as to her vision for the future of Cape Coral.
What Lies Ahead?
Mayor Sawicki emphasized the message that Cape Coral should no longer be considered “Cape Coma” and elaborated on the planning efforts for several new and exciting projects such as Bimini Basin. She shared that there has been a 50% increase in building permits. The City has also made an effort to decrease its reliance on its ad valorem tax revenue in case of another real estate catastrophe. Given that 92% of the City’s development is residential, and only 1% of that number constitutes multifamily housing, the Mayor stressed the importance of providing affordable places to live for young professionals and workers who otherwise cannot afford to purchase a single family home.
While the Mayor reminded everyone that Cape Coral is still relatively young and going through its “growing pains” in comparison to the City of Fort Myers, she remained optimistic about the potential growth and infrastructure that will ultimately attract more jobs and businesses to the area.
April REIS Meeting
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Source:: Legal Scoop