In Florida, the Cape Coral City Council has imposed a nine-month moratorium on accepting applications and giving permits for self-storage facilities, claiming the city has too many. Storage units take up 11% of commercial space in Cape Coral, and city leaders want to decide how to regulate new ones. Cape Coral has almost 1.5 million square feet for self-storage and developers plan to double that. That’s close to 700 acres of commercial space just with storage facilities. Applications that have been processed won’t be affected. But no new applications will be accepted or processed until at least January 2024. Source: WINK News

City council members seek a ban on new self-storage facilities in Providence, RI. The city now has 17 facilities covering more than 6 million square feet. A five-story, 1,400-unit facility on Branch Avenue is expected to move forward even if the ban takes place. Radius+, an analytics firm, said the city’s self-storage capacity jumped by 11% in 2020. Source: The Providence Journal 

Under construction

DXD Capital is building another new storage facility in northwest Las Vegas. Triad Retail Construction is the contractor. The facility is slated to open in Q4 of this year.  Last month the firm open its second self-storage facility in Las Vegas on W. Sahara Ave. The company is nearing completion on another Las Vegas facility on W. Flamingo Rd. with 1,152 units. The company also has construction projects on going in West Palm Beach, FL; Tom’s River, NJ; Lithia Springs, GA.

A new four-story self-storage building, called Buffalo Grove Self Storage LLC, has been proposed for the lot that includes the Ricky Rockets gas station at the northeast corner of Lake-Cook Road and Lexington Drive in Buffalo Grove, IL. The plan calls for an approximately 113,000-square-foot, climate-controlled facility on 3.2 acres at 105 Lexington Drive. It would have 771 units. The village’s planning and zoning commission is reviewing the proposal. Source: Daily Herald

The Jackson County Board of Zoning Appeals granted a request for an exception to operate a commercial self-storage business in Brownstown, IN. Jason Long applied for the business at 10350 N. U.S. 31 in Redding Township by a 4-0 vote. The special exception was needed because it’s in a general business zone. The three-building project will have 73 units. Source: The Tribune

Bruce Goldberg