FRP Development Corp, in partnership with Woodfield Development, has commenced construction on the first phase of the Coconut Road mixed-use project in the Village of Estero, Florida. The development, located at 23281 Lyden Drive across from Coconut Point, is planned as a large-scale, multi-phase community combining residential, retail, office, and hospitality uses on a single site. The overall plan calls for approximately 600 apartment homes, 80,000 square feet of retail space, 20,000 square feet of office space, and a boutique hotel featuring 190 rooms.
The project design is being led by Dover Kohl & Partners, which is tasked with integrating the various uses into a cohesive walkable environment. Estero, situated south of Fort Myers, continues to attract mixed-use investment, and this development is positioned directly opposite an established regional destination at Coconut Point. The plans emphasize a substantial multifamily component alongside street-level commercial and professional space, as well as hotel accommodations.
The first phase now under construction will introduce a significant portion of the planned apartments and retail. It will deliver approximately 296 apartment homes in a collection of three- and four-story residential buildings. Alongside the housing, the initial phase also includes about 30,000 square feet of retail space, representing more than one-third of the project’s total planned retail program. The combination is designed to activate the site early in the multi-phase build-out by bringing residents and neighborhood-serving retail online at the same time.
Initial residential units from the first phase are anticipated to come to market in the third quarter of 2027. This timing sets a multi-year construction and delivery window during which the project will move from site work and vertical construction to lease-up of apartments and tenant build-out for retail users. As the first buildings are completed, the development is expected to begin establishing its identity as a new mixed-use destination within Estero.
To finance the first phase, the development team secured an $81.5 million construction loan from Santander Bank. The capital will support vertical construction and related project costs through initial delivery. Brooks & Freund is serving as the general contractor for the first phase, overseeing day-to-day construction activity. Humphreys & Partners Architects is collaborating on architectural work for the residential component, while ID & Design International is providing interior design services.
The launch of construction on Coconut Road marks a key milestone for FRP Development Corp and Woodfield Development as they advance a large mixed-use program in the Estero market. With residential, retail, office, and hotel elements planned, the project represents a sizable addition to the local housing stock and commercial offering once fully built out.
