Vertical construction is underway on the first phase of a mixed-use development at 23281 Lyden Drive in Estero, Florida. Developed by FRP Development Corp in partnership with Woodfield Development, the initial phase will yield 296 apartments and approximately 30,000 square feet of retail space across a collection of three- and four-story residential buildings. Brooks & Freund is serving as general contractor, with Humphreys & Partners Architects designing the first phase and ID & Design International handling the interiors.
The development occupies a 45.6-acre site along U.S. Highway 41 at Coconut Road, directly across from Coconut Point. Dover, Kohl & Partners is responsible for the broader master plan, which is planned as a mixed-use town center combining residential, retail, office, hospitality, and open space components.
The first phase will introduce the initial residential and commercial structures along with supporting amenity spaces. Initial residences are anticipated to begin delivering in the third quarter of 2027.
At full buildout, the latest plans call for approximately 600 apartments, 80,000 square feet of retail space, 20,000 square feet of office space, and a 190-room boutique hotel. The various uses will be arranged within a pedestrian-oriented development centered around public and landscaped spaces.
The developers previously secured $81.5 million in construction financing from Santander Bank for the first phase. FRP Holdings disclosed that the financing was secured in September 2025 for the initial 296-unit component, which company filings list with 28,745 square feet of retail space. The approximately 30,000-square-foot figure announced this week represents the rounded retail total for the phase…