Cape Coral approves $500 million Bimini East redevelopment as families fear losing Four Freedoms Park

The Cape Coral City Council has approved the $500 million Bimini East redevelopment, a 34-acre mix of apartments, townhomes, a hotel, offices, shops and a marina on the Bimini Basin in the city's downtown, despite objections from neighbors who fear losing Four Freedoms Park, the area's oldest park. The council gave final approval to the development agreement with Crown Development on Wednesday night, Oct. 21, after a lengthy final public hearing, WINK News reported.

The vote caps more than a year of planning and roughly $45 million in city land purchases on the south side of Cape Coral Parkway, where the city bought more than 40 parcels to assemble the site, according to WINK. Some residents say the city moved too fast and is giving away too much, including a beloved neighborhood park.

What will be built

The site sits south of Cape Coral Parkway and west of Coronado Parkway, next to the existing Bimini Square development. Plans call for 900 residential units, 250 hotel rooms, 210,000 square feet of medical office space, 55,000 square feet of general office space, 130,000 square feet of ground-floor retail and a marina with 50 boat slips, according to the Cape Coral Breeze. WINK reported the plan also includes townhomes, a waterfront bandshell and a police substation.

WINK identified the lead developer as North Dakota-based Crown Development. The agreement also involves the Bimini Basin Redevelopment Company LLC, according to the city and the Breeze, which reported that Crown would partner with Alessio Companies and Superhost Hospitality on the project.

The council's action covered three linked agreements: a development agreement, a purchase and sale agreement for city-owned land, and a ground lease for Four Freedoms Park. The development agreement requires construction to begin within two years, though a city spokesperson told WINK the start date remains unclear.

The money

The city has already spent about $45.2 million acquiring land for the project and plans to spend about $11 million more on additional parcels, including George's Garage and the Trumbull Apartments, according to WINK. The developer would receive $45.75 million in tax increment rebates through the city's Community Redevelopment Agency, paid only if the project produces new tax revenue. The Breeze reported the incentive package also includes $5 million in impact fee credits.

City staff estimate construction alone would generate $750.9 million in economic output and more than 3,000 jobs.

The land assembly has displaced some families. Cape Coral is offering up to $6,000 in rental assistance to qualifying residents, WINK reported. When the city held an open house on the plan in June 2025, WINK reported that it had spent about $45 million buying hurricane-damaged properties to clear the way for redevelopment.

What happens to Four Freedoms Park

Four Freedoms Park, on the Bimini Basin, would be leased to the developer for 99 years at $1 a year. Under the lease, the developer takes over the park's utilities, taxes and repairs. The Breeze reported that city officials have said Cape Coral would keep the park's name and its public recreational use.

City leaders say the park is being relocated and redesigned, not eliminated. The agreement includes a one-acre neighborhood park with tennis and pickleball courts and a children's playground. But WINK noted that the green space around the Bimini Basin is the only park-like area shown in the plans, and it remains unclear where Four Freedoms' playground equipment would go.

The park is also home to a city-sponsored pre-K program. The city is looking for a new location for it, and no staff will lose their jobs, according to WINK.

Parents push back

For families who live near the basin, the park is the closest place for children to play. Yadelys Ramirez told WINK she takes her daughter to Four Freedoms every week and had planned to enroll her in the preschool program. Without a car, and in a neighborhood where many people get around on foot, she worries about access if the park moves. "It could hinder a little bit just because I don't have transportation right now," she said.

Parent Ashley King was blunter. "A park is great, but they're missing the mark," she told WINK.

Other speakers raised concerns about noise and traffic, and several asked the council to wait until after the November city election to vote. Some said the public had too little time to review the deal. One speaker, identified by WINK as Hulsey, said staff had negotiated for more than a year while residents got 20 days to weigh in.

Traffic has been a recurring worry. When the city first floated the plan in 2025, resident Marie Kavanaugh told WINK, "We don't have enough roads to handle that kind of traffic."

Council members defend the deal

Supporters on the council said the project is exactly what the South Cape redevelopment area was created to do. Councilwoman Jennifer Nelson-Lastra said the Community Redevelopment Agency's purpose is to remove blight, "and that's exactly what we're doing."

Councilman Joe Kilraine said the agreement's safeguards matter. "I've been through business a long time, and no relationship just goes completely on trust," he said. Councilwoman Rachel Kaduk also weighed in during the hearing. WINK did not report the final vote tally.

Not all residents oppose the plan. When the council directed staff to draft the developer agreement in July, longtime resident Bonnie Schaufel told WINK, "You know, it's a growing city. You know, let it grow."

How the project got here

The city's path to Bimini East ran over more than a year.

What's next

With the agreements approved, the city still plans to buy the remaining parcels, and the developer must move toward construction within the two-year window set by the deal. Detailed site plans, including the final location and design of the replacement park, still have to come forward. For families who rely on Four Freedoms and its preschool, the city has yet to say where the pre-K program will move or when the current park will close.