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Cape Coral advances yacht-club seawall work and asks staff to seek private partners for wider redevelopment
Summary
City staff recommended starting seawall construction for the Cape Coral Yacht Club redevelopment while testing private-sector interest in concession or public-private partnership models to reduce the city's financing exposure.
City staff told the Committee of the Whole on Oct. 15 that Cape Coral's proposed full redevelopment of the Yacht Club site could cost roughly $225 million and that council should begin seawall construction while seeking private partners to reduce the city's financial burden.
John Osterstock, the city's facility project manager, and Assistant City Manager Mark Mason presented a multi-phased plan that would replace the Yacht Club building, rebuild the seawall, refurbish or replace docks and fuel facilities, build a four-story parking garage, a Harbor Master building and a community center with pools and event space. Osterstock said the marine portion alone (docks, fueling, seawall and related marine works) could range from $24 million (reduced-scope seawall-first package) to about $35 million;…
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