2026-09-10 · 6 min read · Estero
Construction Begins on 600-Home Mixed-Use Development Across From Coconut Point in Estero
What Is Being Built Across From Coconut Point in Estero?
FRP Development Corp and Woodfield Development have started vertical construction on the first phase of a mixed-use project at 23281 Lynden Drive in the Village of Estero, directly across from Coconut Point mall, according to an announcement from the developers published September 10, 2026 and matched by reporting from Business Observer the same day. When finished, the full project is planned to include roughly 600 apartment homes, 80,000 square feet of retail space, 20,000 square feet of office space, and a boutique hotel of about 190 rooms.
I am Kris Asquith, Broker Associate at Premiere Plus Realty, and I sell across nine Southwest Florida markets including Estero.
Who Is Building It, and What Does Phase One Actually Include?
The developers are FRP Development Corp, based in Jacksonville, and Woodfield Development, and the project is designed with Dover Kohl & Partners handling the overall plan, Humphreys & Partners Architects as collaborating architect, and ID & Design International on interiors. Brooks & Freund is the general contractor. The financing behind the start of construction is an $81.5 million [verified: 2026-09-10 against Connect CRE and MultifamilyBiz] construction loan from Santander Bank, with the specific terms of the loan not disclosed.
Phase one, the part now under construction, is smaller than the eventual full build: about 296 apartment homes across a mix of three- and four-story buildings, plus 30,000 square feet of the retail space. The remaining apartments, the office space and the hotel are part of the longer-term plan for the site rather than this initial phase.
When Will It Be Finished, and What Happens Next?
The developers say the first residential units are expected to be available in the third quarter of 2027. Beyond that, no completion date has been given for the rest of phase one or for the later phases that would eventually add the office space and the hotel. This is a multi-year build, and what is confirmed today is that ground work has moved to actual vertical construction, not that a finish date for the whole project exists yet.
Woodfield Development's Todd Jacobus said in the developers' announcement that "commencing construction marks a significant milestone for this development." FRP Development Corp's President and Chief Operating Officer, David H. deVilliers III, said the project reflects "a well-located property in a growing market where thoughtful development can create meaningful value over time."
Why Build a Project Like This Across From Coconut Point?
The site sits at a corridor Estero has already built its identity around: directly across from an established regional mall, near the interchange of I-75 and US 41, and positioned as a walkable mix of homes, shops and offices rather than a single-use apartment complex or office park. That kind of infill, placing new housing and retail on already-developed commercial corridors instead of pushing further out, is a different pattern from Estero's newer communities further east along Corkscrew Road, which are largely gated residential neighborhoods built on what was previously open land.
Estero new construction covers what else is currently being built across the broader Estero market, and how a project like this one compares with the gated communities going up elsewhere in the area.
What Does This Mean If You Own Property Near Coconut Point or Are Looking in Estero?
Nobody can honestly tell you what a new mixed-use project two years from completion does to property values nearby, and it is fair to be skeptical of anyone who claims otherwise this early. What is confirmed is that a long-discussed site across from one of Estero's main commercial anchors is now an active construction project rather than a plan on paper, which is a real change in what that stretch of the corridor looks like day to day for the next several years.
Estero itself sits inland between Bonita Springs and Fort Myers, without direct Gulf access, and draws buyers looking for gated, amenity-rich communities and newer construction. Estero gated communities and Estero luxury homes cover more of what is currently available across the wider market.
How Should You Weigh This If You Are Buying or Selling Near Estero?
As one confirmed step in a multi-year project, not as a reason to rush a decision on a nearby property. Construction noise and traffic patterns around the site are likely to shift over the next couple of years as the work progresses, which is worth asking about directly if you are considering a home or investment property close to Coconut Point.
The details that actually affect what a specific property is worth to own, flood zone, HOA rules, what a survey shows, and the exact distance from an active construction site are the kind of thing the home buying process walks through before you are under contract, not something a news announcement can answer for you.
If you are weighing a property near this corridor, or anywhere else across the nine markets I cover including Estero condos and Estero investment properties, get in touch or call (239) 300-1427 for a straight read on that specific address.