The city of Cape Coral just approved plans to buy $40 million worth of land in the eastern portion of the Bimini Basin District, forcing tenants out of their homes.
The Community Redevelopment Agency plans to transform the nearly 19 acres just south of Cape Coral Parkway and west of Coronado Parkway into a thriving community space that benefits residents, businesses and future generations.
Mayor John Gunter told NBC2 housing, commercial space, and public amenities are all on the table for the new development.
"This particular area has always needed some revitalization and be able to assemble these properties and probably group them all together as one parcel, will definitely be an additional opportunity for some type of future development in that area,” Mayor Gunter said.
But the purchase of the 43 parcels also means people who live in the neighborhood will have to find new homes, and some feel like the current property owner didn't do enough to make sure tenants knew the land was for sale.
"It’s gonna be hard to find another place," said Rick Moseley, who has lived in the neighborhood for nearly eight years. "We don't want to lose our homes, especially because a lot of people are on fixed income around here."
With a handful of apartments vacant and many still damaged from Hurricane Ian, some are happy to hear about the upgrades.
"I think they do need to do some remodeling," said Adora Jacobs, another resident. "Especially with some of the houses and some of the properties."
Others we talked to consider this area one of the last neighborhoods where they can afford rent in the city, and worry about what will place it now with the city in charge.
"They'll probably build high-rises," said Moseley. "I got a feeling that’s their plan. You know they built one on 47th and another one across the street…"
The vote took place at the city council meeting Wednesday night, approving a contract for sale and purchase with Bimini Center of Cape Coral and Four Palms Condominium Association, Inc. in order to purchase the property Bimini East for the contract price of $40,089,504.
At the meeting, staff said the city will work with the landlord to end leases and give tenants a fair timeframe to leave.
NBC2 could not reach the current owners of the property for comment. You can count on NBC2 to keep following this story.