Photo of Madison Capital Group’s Burton Hill development in Asheville, North Carolina.
A North Carolina based developer plans to submit plans to the city of Bonita Springs to build 252 residential housing units just east of I-75.
The project will be constructed on a 20 acre parcel bounded on the west by I-75 and on the south by Bonita Beach Rd. Access to the property is by way of Miller Rd. off of Bonita Beach Rd.. Currently Miller Rd. does not have a right or left turn lane from Bonita Beach Rd., although the Lee County Department of Transportation could require the developer to include turn lanes in order to build the development.
Madison Capital Group Management, based in Charlotte, North Carolina has submitted plans for the project to city officials. The development would include five, four story buildings with a portion of the parcel set aside for construction of a restaurant.
Madison Capital Group was founded in 2009 and is a private equity real estate investment and development firm with a primary focus on the multi-family and self-storage sectors. The company has built dozens of multi-family projects in the Carolinas as well as several in Florida.