The battle royale between New Jersey firefighter Victor Vangelakos and Fort Myers high-rise developer the Related Group is an ongoing fight.
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Dramatic developer discounts have jump started sales at the North Star Yacht Club in North Fort Myers. This community fronting the deep-water Caloosahatchee River boasts twin 12-story high-rise towers. The Sarasota Herald-Tribune has an interesting article about Norman Radow, who has been hired to liquidate the real estate portfolio of bankrupt Leman Brothers. West Bay Club in Estero is one of the assets that Radow is currently focused on. A big challenge at West Bay Club is that only 617 of the originally planned [...] Investors.com reports that investors are swarming the South Florida market targeting condo foreclosures. The Miami condo market was severely overbuilt during the bubble years with waterfront luxury high-rise projects. The “smart” money circling these towers is attracted to prices well below replacement cost. “A lot of eyeballs are focused on Miami,” said Adam Cappel, president of [...] One of the misfortunes of the Southwest Florida housing bust is that the magnificent Oasis I luxury high-rise in downtown Fort Myers has only one resident. This is truly a shame as the Oasis is a first-class project that delivers a hint of Miami Beach to the River District scene. The lonely resident is a New [...] The auction of 75 units at the Fort Myers riverfront high-rise building, the Riviera, will take place today. The auction is being held off-site at the Harbourside Event Center and starts at 11:00 AM. If you are planning on bidding, you will need a cashiers check for $10,000 per unit. Here is a resource [...] The most expensive home to sell in Lee County Florida during April 2009 was a Bonita Bay high-rise condo located at 4931Bonita Bay Boulevard, #1710, Bonita Springs. This Azure Tower condo is 4,240 SF and features 3BR and 4BA. The selling price was $1.925M / $454 SF. Congratulations to selling Realtor Jim McCormick of [...] The News-Press provides an update on the high-rise scene in the Fort Myers River District. Leasing activity is increasing – drawing in younger tenants We have seen significant price reductions throughout [...] Living in an urban setting where life goes on without jumping in the car several times a day can be very rewarding. I had this experience in my late twenties living in Downtown Boston. Walking to work, jogging along the river and trying new ethnic restaurants…..what could be better! Unlike some of our older [...] The other day one of my colleagues used the words “affordable” and “Gulf Harbour” in the same sentence. Yes, we are talking about that Gulf Harbour along McGregor Boulevard in Fort Myers. Today there are 182 properties for sale in Gulf Harbour’s 18 distinct neighborhoods. A whopping twenty Gulf Harbour properties are [...] The News-Press has an article about Fort Myers high-rises and some of the challenges developers are facing in today’s market. This market sector was impacted by to heavy investor involvement in the first couple of projects including Beau Rivage and Alta Mar. The market swooned as these projects were coming to completion and [...] The luxury urban lifestyle commonly associated with South Beach has come to the Fort Myers landscape courtesy of the Related Companies and their new project, the Oasis. This development features five 32-story high-rises sited along the Caloosahatchee River in the Downtown Fort Myers River District. With 1,079 units at full build-out, Oasis is the largest [...] The urban lifestyle that is so treasured along 5th Avenue South in Naples is slowly taking shape here in Fort Myers. At the west end of the River District, the tallest building in Southwest Florida is a fantastic anchor for our urban revitalization. Steps away from historic McGregor Boulevard, the Publix Supermarket, Starbucks and [...] Cape Coral project open to aclaim The first tower at Cape Harbour’s 15 story Marina South is completed and residents started moving in on Friday. This project, which features retail establishments on the ground floor, is another notch in Cape Coral’s coming of age. A second matching tower will be opening in May 2007. Back in March [...] Downtown area renamed The Downtown area of Fort Myers along the Caloosahatchee River has been formally named the “River District.” The goal of the new name is to accentuate the positive riverfront location and bring more people and businesses to the area. The new River District logo released by the Fort Myers Redevelopment Agency is both catchy [...] Upscale high-rise resort living One of my favorite locations in Fort Myers is Mastique, located in South Fort Myers close to the Sanibel Causeway. Mastique is a private, gated community overlooking Lake Mastique, a 25 acre, 35 foot deep lake. The views of Sanibel and the Gulf of Mexico from the 20 story high-rise towers at Mastique [...] Fort Myers high-rise deposits returned Investors in the proposed riverfront 28-story high-rise the Vue, to be located at at 13oo Hendry Street in downtown Fort Myers, were offered their deposits back. The project has run into difficulties gaining approval from the National Park Service due to its towering presence over Centennial Park. With lackluster resale results [...] Can luxury condos revitalize downtown? It is big news in SW Florida when our problems are aired as a prominent story in the NY Times. Many will most likely find it painful to stomach Ft. Myers being described in the article as “the stepchild to its more beautiful sisters in southwest Florida, Naples and Sarasota.” [...] Riverfront 32-story highrises taking shapeHigh Point Place, the “Uptown Waterfront Tower” is rising in Ft. Myers on the banks of the Caloosahatchee River. The project developer is Cameratta Properties of Broadview Heights, Ohio. The Carlyle Group, a highly respected private equity firm with more than $17.5 billion under management, has provided funding for the project. [...] Hotels Condos a hit in Cape Coral at Tarpon Point Hotel condos, a popular concept on Florida’s East Coast has come to Cape Coral in a big way. The project, Marina Village Resort at Tarpon Point, is being constructed by Gross Point Development. On Saturday, a drawing was held to select buyers and 133 units were sold. [...] New luxury high-rise announced Plans have been released by MLG Development of Brookfield, Wisconsin for a 15 story luxury condominium located on Summerlin Road just east of the Sanibel Causeway. This location is adjacent to the Sanibel Harbour Resort & Spa. Sanibel Passage joins Riva Del Lago and Mastique as Ft. Myers area condominium towers that are [...] New towers rising in N. Fort MyersA new high-end development will start taking shape in North Fort Myers as construction begins on two 13-story condo towers overlooking the Caloosahatchee River. CR Hancock Bridge LLC broke ground Friday on the North Star Yacht Club. Kemp Deming, CR Hancock Bridge’s vice president in development, said the $94 million [...] Luxury high-rise in South Ft MyersRiva Del Lago is the first luxury high-rise to be built in the area on a site that is not either a gulf-front or riverfront location. River Del Lago is located just off U.S. 41 between Cypress lake Drive and Gladiolus Drive. This area close to the Bell Tower Shops [...] Riverfront luxury scene Like an early arrival at a high school dance, Beau Rivage is out on the floor waiting for the party to begin. Several other luxury high-rise projects are under development in close proximity to the Beau Rivage. Over time this neighborhood figures to become ground zero for luxury condo living in Ft. [...] Condo resales….riverfront renaissance wrinkles Surprise Surprise, resales of Ft Myers riverfront condos have been disappointing. A year after Fort Myers’ first downtown condominium tower opened, two of its units have sold for less than the initial buyer paid. In one instance, county records indicate, the buyer lost $46,000. In the other, the price dropped almost $34,000. Taken together, the [...] …….Reserve a spot for me Maybe I’d pay $10,000 to talk on the phone with Eva Longoria who portrays Gabrielle on Desperate Housewives……but to talk with a sales rep from the the planned Monaco Resort & Spa in Ft. Myers…..You got to be kiddin me!!! This 27 story luxury project, to be constructed in Downtown Ft. Myers [...] Second tower to be built ahead of schedule The cranes that are so visible in Southwest Cape Coral are not going away anytime soon. The developer of Marina South at Cape Harbour had such great results in marketing the first tower that they are accelerating plans for a second high-rise. Condos in the 15 story Marina South [...] |
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