Downtown Fort Myers Towers Slowly Fill Up

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The Brown Team

 RICK BROWN: (239) 322-2313
BRENDA BOOTH-BROWN: (239) 287-8834
www.TheBrownRealtyGroup.com

The low interest rates and an improving economy have helped downtown Fort Myers’ riverfront high-rise condominiums see turn of the tide. The skyscrapers were mostly developed during the final days of the real estate frenzy in 2004 and 2005. Some were not even in construction when the market crashed in the beginning of 2006. Many builders who completed a project had buyers walk away from their deposits as prices tumbled downwards. Now the towers have been filling up with renters and now buyers too. Until this year, builders say, the recovery was modest. High Point is 90 percent sold out, he said. The Lee County Clerk of Courts website shows 14 units sold since the beginning of the year. The website shows 12 units sold in Oasis. Fort Myers ArtFest director Sharon McAllister, who’s lived in the Point Royale high-rise condo in downtown since 2002, said she’s happy to see the renewed interest in that housing sector although she’d like to see more unit owners actually living there. She’s optimistic the trend will continue because of city projects to improve the area, especially the $5.4 million project on the waterfront intended to make it easier to hold events there. Longer term, McAllister said, her group is working on plans to enhance that project with major, permanent artworks. The bottom line for downtown is that it’s finally affordable to people who want to live and work there. Read more at: http://www.news-press.com/article/20120706/RE/307060027/1076/HOMESCAPE99

The Brown Team

 RICK BROWN: (239) 322-2313
BRENDA BOOTH-BROWN: (239) 287-8834
www.TheBrownRealtyGroup.com
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