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Ground breaking for the Cove at 47th. (CREDIT: GULFSHORE BUSINESS) In this Gulfshore Business report, the face of downtown Cape Coral is about to change as crews broke ground on the new luxury development Cove at 47th. In two years the Cove at 47th will be completed. An Indianapolis developer bought four acres in December for $6,500,000. Inflation drove up the construction costs by about $20,000,000 but the company’s CEO said instead of abandoning ship they doubled down. Watch the full report above. Click here to read the full Gulfshore Business article.