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.
Credit: Woodfield Development
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.
Credit: Woodfield Development
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.
Residential amenities are planned to include pools and sun decks with private cabanas, outdoor grilling areas, club and entertainment spaces, a private dining room, a gaming lounge with a golf simulator and billiards table, coworking facilities, and a fitness center. A sky lounge will overlook the development’s central park.
Credit: Woodfield Development
“Commencing construction marks a significant milestone for this development and underscores our confidence in the continued growth and long-term strength of the Estero market,” said Todd Jacobus of Woodfield Development. “This project will deliver much-needed housing and new shopping and dining offerings, followed by future office space and a boutique hotel. Together, these uses will create a vibrant destination designed to serve the community for years to come.”
“This development represents the type of long-term development opportunity FRP has historically pursued – a well-located property in a growing market where thoughtful development can create meaningful value over time,” said David H. deVilliers III, President & Chief Operating Officer of FRP Development Corp. “Together with Woodfield, we are creating a mixed-use community that brings new housing, retail and ultimately office and hospitality uses to one of Southwest Florida’s most attractive growth markets. Beginning vertical construction on the first phase is an important milestone for the project and for our continued investment in Florida.”
Credit: Woodfield Development
The property sits directly across U.S. 41 from Coconut Point, an approximately 1.2-million-square-foot open-air shopping center with more than 125 stores as well as restaurants and entertainment uses. Interstate 75 runs east of the development and provides connections north toward Fort Myers and south toward Naples.
The Estero project continues an existing partnership between FRP and Woodfield Development. The firms previously completed Riverside, a 200-unit multifamily development in Greenville, South Carolina’s Water Tower District, as well as the conversion of a former downtown Greenville office building into .408 Jackson, which contains 227 apartments and ground-floor restaurant space.
FRP and Woodfield are also developing Woven in the Village of West Greenville. That project is planned with 214 apartments and approximately 13,000 square feet of commercial space.
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