FRP, Woodfield Begin Work on Expansive Estero Development

FRP Development Corp, in partnership with Woodfield Development, has started construction on the first phase of its Coconut Road mixed-use development in the Village of Estero, Florida. At 23281 Lyden Drive, across from Coconut Point, the development is planned to include approximately 600 apartment homes, 80,000 square feet of retail space, 20,000 square feet of office space and a boutique 190-room hotel. It’s to be designed by Dover Kohl & Partners. Estero is south of Fort Myers.

The first phase will include approximately 296 apartment homes in a mix of three- and four-story residential buildings, together with 30,000 square feet of retail space. Initial residential units are anticipated to deliver in the third quarter of 2027. The developers secured an $81.5 million construction loan from Santander Bank to support construction of the project. Construction of the first phase is being led by general contractor Brooks & Freund, in collaboration with Humphreys & Partners Architects and interior design firm ID & Design International.