Staff lays out $197M-plus estimate for Cape Coral Yacht Club redevelopment; council debates scaling and funding

Facility Project Manager John Osterstock reviewed the Yacht Club project's history from the 2016 parks master plan, through the 2018 Go Bond allocation and the post‑Hurricane Ian redesign, and presented updated cost estimates for the remaining redevelopment work. Osterstock listed key components: floating docks ($12M), fuel system and tanks ($3M), Harbor Master building ($7M), civil/site improvements (~$35M), a parking garage (~$38M) and a $45M community center; staff summarized a remaining project cost around $164M and a total estimated development cost near $197M when prior seawall work is included.

Contractor Robbie Powell (Wright Construction) told council the budgets shown are based on current pricing and include contingency allowances; he said 8–10% escalation per year is reasonable to assume and that further schedule delays could increase contingencies. “Up until a couple of weeks ago, we believed we were building all this kind of now, so that was the budgets that you've been given are based on today’s pricing,” Powell said.

Council members expressed concern about the scale and asked about ways to reduce cost by shifting some programming to the recently acquired old golf course, by phasing construction or by seeking private partners to share development cost and risk. Staff said seawall and demolition work already approved are separate from the remaining marina/building scope and that final 100% design deliverables and GMPs are expected in the coming months; construction authorization and funding decisions would return to council later. No construction contracts were approved at this meeting.