A $50M bet on downtown Fort Myers just hit 45% sold!

I have sold real estate in this market for 13 years. Over that time, people have talked a lot about downtown Fort Myers. However, this moment feels different.

One is a 21-story riverfront condo tower going up on the Caloosahatchee, the first new development of its kind downtown since Oasis in 2006. Thirty-four units, private elevator access to each residence, infinity pool facing the water. Units start at $1.3M. The combined top-floor penthouse has already sold for $5.3M.

Ryan Serhant‘s firm is handling national marketing while Miami-based Jaxi Builders is leading the construction. The estimated build cost is $50M and is expected to be completed by the end of 2027.

Entitlements alone took three years to secure. That’s a long-term conviction play on where this corridor is headed. And 45% of units are already sold mid-construction.

Directly across the street, a 1907 home that sold for $280K in 2019 (fully restored) is now listed at $898K. Same block. Two different timelines telling the same story.

Downtown has been building toward this kind of moment for a while, but when the conviction finally shows up in the form of cranes and $50M commitments, I pay attention.

Whether you are buying or selling, having an agent who understands the current real estate developments makes all the difference. Because the market changes quickly, having an expert by your side protects your investment and ensures a smooth process.

If you have questions or need assistance with your real estate goals, please reach out today.