Industry experts are predicting a big year for commercial real estate along Florida’s Gulf Coast in 2016.
Fort Myers is among the Gulf Coast cities seeing a downtown revival, and a variety of large-scale projects are on tap for 2016 in Lee County. Population increase in Florida as well as major relocation deals by companies such as Hertz Corp. in Lee County also bode well for additional real estate development.
Here’s a snapshot of some sizeable projects in the works for Lee County:
- Millennials and baby boomers are seeking urban lifestyles, which is leading to a boom in downtown Fort Myers, where developers are planning $500 million worth of new condos, shops and offices, including:
- A $60 million project by the MacFarlane Group called Campo Felice to transform the former Amtel hotel into 323 independent-living apartments for seniors. It is scheduled to open in 2017.
- A project to develop two new luxury condo high-rise towers along the Caloosahatchee River. The two 32-story towers, called Allure, will include 292 upscale condos.
- Downtown Fort Myers is already home to 56 restaurants, bars and nightclubs and 39 shops. More are expected to open as new residents move downtown. City officials are also working on planning for a new 600-car parking garage.
- Plans are moving forward for a $10 million convention center in Cape Coral, to be completed in late 2017.
Based on these announced projects, and those that are still in the works, 2016 should be a year full of exciting new developments, as Lee County’s skyline continues to transform and grow to accommodate new economic and population trends.