The Growth of Cape Coral and What it means for Local Construction
October 23, 2015
Southwest Florida has been known as the wasteland of the recession in recent years. However, with growth picking up again, the future is bright for Cape Coral and all of Southwest Florida. Recently, Forbes named Cape Coral/Fort Myers as the number 2 best city for jobs this fall (it was a tie). The report from Forbes predicts there will be a 4.4% job growth in Cape Coral through 2017 and with that growth comes new construction.
Forbes examined 200 large metropolitan areas by population for its Best Places for Business segment in the magazine. The findings reveal that Cape Coral has the third fastest projected job growth rate in the next three years – just behind Naples, Florida (4.6%) and Myrtle Beach, South Carolina (4.5%). The areas with the highest projected job growth are creating jobs in the construction, retail, and healthcare sector.
Areas like Cape Coral are adding jobs at a faster rate mainly because of the influx of baby boomers. Over the past four years, the city that features a council-manager form of government has made it easier for businesses to succeed thereby creating jobs for the public. They have achieved this through reducing taxes and making changes in the regulations that makes it easier for firms to operate in the region.
Improved Cape Coral Real Estate Market
Additionally, the real estate landscape continues to improve in Cape Coral. The average real estate price jumped to $198,000 in 2015 – an increase of 18% over the end of the last year. This provides great opportunity for local construction activities in the area. Prices are expected to rise in the future and that will offer great return on investment for commercial and residential real estate investors.
Lower end properties that go under contract within a matter of few weeks are closed shortly after construction. For local real estate investors, this is a wonderful time to invest in construction activities in Cape Coral. It is a seller’s market at the moment with commercial and residential real estate properties being snapped up quickly by businesses and individuals.
Begin Your Cape Coral Commercial Construction Project Today
Using the projected numbers and anticipated growth of Cape Coral and Lee County as a whole, now’s the time to look into new commercial property for a new business. At Compass Construction, we’ve completed over 500 commercial construction projects in the surrounding areas and have expertise in the following industries:
- Financial institution construction
- Retail Construction
- Restaurant & Hospitality Construction
- Government/public facility construction
- Medical facility construction
- Multi-residential construction
- Recreational/park construction
- Educational institution construction
- Renovations
To learn more about our construction services and how we can help you benefit from this growth in the Cape Coral market, contact us today at (239) 542-7118 or click here.
