Cape Coral is moving from a retirement community to a younger workforce market, says the economic development chief.
Economic Development Manager, Ricardo Noguera, says, “Cape Coral is now the eighth largest city in Florida with a two-plus percent annual growth rate. We are rapidly changing from a retirement community to a workforce market with the median age near 42.”
Each community has different attributes. Economic development must be approached based on local market conditions, political and also community desires. Also, most importantly, land availability for redevelopment and infill must be considered, he says.
“The goal is to build out less developed sites and bring industry and good-paying jobs to the Cape with an emphasis on millennials.”
He says, “South Cape has an enormous opportunity to evolve into a walkable community with “downtown” housing. We are working with several private developers to promote mixed-use development (i.e., Bimini Basin).”
There is still room for more commercial growth, as only around half of Cape Coral’s 120 square miles of land has been developed, says Mr Noguera.