The Cape Coral Community Redevelopment Agency has awarded its first Demolition Assistance Grant to Nautilus Equity Group, LLC, to remove a severely deteriorated structure at 4528 S.E. 15th Ave.
The new Demolition Assistance Grant Program accelerates the removal of blighted buildings within the CRA district by reimbursing a portion of demolition costs. It aims to revitalize properties, spur economic growth, and enhance community safety.
Nautilus was awarded up to $30,750 to complete the demolition of the building, which posed serious environmental and safety risks, including mold and asbestos. To encourage growth in the area, Nautilus Equity Group, LLC, plans to clear the site in anticipation of a new building, paving the way for future investment.
“This grant represents a significant step forward in our commitment to revitalizing the South Cape area,” said CRA Executive Director Michael Ilczyszyn. “By removing blighted structures and preparing sites for modern resilient development, we are fostering a safer, more attractive, and economically vibrant community.”
The program is part of the CRA’s broader strategy to eliminate blight, increase funding, and foster city-business collaboration.