The trend of building new apartments in Southwest Florida just keeps growing. In Cape Coral, a lot just shy of 15 acres sold in December for $4 million.
Kittle Property Group, based in Indiana, bought the property. The group will meet with the Cape Coral City Council March 16 for an amendment to its development plan.
The initial plans are to build four four-story buildings that will combine for 292 units. Vantage Luxury Apartments will be the name, and the address will be 3050 Steeple Circle. It’s off the south side of Pine Island Road, just west of U.S. 41 and across the street from Merchant’s Crossing.
Amenities will include a clubhouse, fitness center, game room, business center, dog park, cornhole court, hammock garden and perimeter fencing. There will be 9-foot ceilings in the apartments with granite counters and stainless-steel appliances.
Ron Zeigler of SVN brokered the sale.
“There’s a strong housing need in Florida,” Zeigler said. “People are getting priced out of single-family homes. The prices are climbing so fast. That trend is going to continue.”
This lot originally was part of a 169-acre parcel that was split, Zeigler said.
Construction on Vantage is slated to begin in April. The first units are scheduled to be finished November 2023 and completed by May 2024.
