Best priced pool home in The Reserve At Estero. This three-bedroom & two-bath home is in mint condition. Featuring 18-inch diagonal tiles in the living area, GE Profile stainless steel appliances, granite counter tops, wood cabinets in the kitchen, new A/C, new pool (gas) heater & washer 2015. With a west exposure, enjoy the sunset from your lanai with an amazing custom designed swimming-pool with water feature and private landscaped view.
New construction could be delayed because of Hurricane Irma.
Future homeowners, with houses currently under construction, will have to wait a bit longer than expected to move in. Hurricane Irma has set back timetables for everything from labor to supplies. The hurricane could also be costly for developers who have contracts with fixed prices.
Richard Durling, president of the Lee Building Industry Association (Lee BIA) and owner and president of Marvin Development Corp., said people should expect delays and higher costs.
“The first thing is cleanup and recovery which is what everyone is in gear to do right now,” Durling began. “Until that occurs, it will be a little slow to get back on schedule for the new constructions jobs.”
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A great victory for protection of the environment in Lee County, and particularly Estero!
The Lee Board of County Commissioners (September 19, 2017) voted unanimously to purchase about 4,000 acres in southeast Lee County – commonly known as Edison Farms – as a Conservation 20/20 preservation site.
The $42.4 million purchase ranks as the largest single parcel approved by the Board since the purchase of Bob Janes Preserve, which is 5,620 acres.
The acquisition of the Edison Farms parcel would:
- Protect a significant, diverse population of wildlife and plant communities.
- Assist with the distribution of freshwater flows in a natural wetland slough system and adjacent uplands that are part of the headwaters to Estero Bay, the state’s first aquatic preserve.
- Help sustain the region’s groundwater levels, a vital component to the area’s drinking water supply.
- Provide flood relief by facilitating the restoration of historic flow-ways in the region.
- Provide opportunities for nature-based recreation in the southern part of Lee County.
The Edison Farms purchase is expected to close by the end of the calendar year.
Conservation 20/20, which has preserved more than 25,000 acres since its inception, is Lee County’s environmental acquisition and management program. Preservation lands help the county protect drinking water, provide nature-based recreational opportunities, protect areas from flooding and provide wildlife habitat.
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Hilton has the project to built an Hilton Garden Inn Hotel in Estero, just North of Coconut Point and close of the community of Rapallo.
The hotel would have five stories with 115 rooms. The project still waits for the Village approval and then will go – if approved – in front of the Design Review Board. View Complete Article…
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Brighter Than the National Outlook.
Although the numbers sound astounding (20-25 percent of malls predicted to close over the next five years), Coconut Point Mall and Miromar Outlets are unlikely to be affected. Simon Property Group, the nation’s largest mall developer, shed its low-end malls a few years ago and has been investing in the success of stronger properties like Coconut Point.
Miromar Outlets is privately held by Miromar Development Corporation and is also likely to weather the “retail apocalypse” just fine.
While both of Estero’s malls have experienced recent store closures — including large spaces vacated by Sports Authority and World Market at Coconut Point — there also have been new store openings. Coconut Point is dividing the 40,000-square-foot space left by Sports Authority for use by two new tenants: Total Wine & More and Tuesday Morning. Clothing retailer Soft Surroundings and restaurant MidiCi Pizza are also currently under construction at Coconut Point.
Diversification is key to the continued health of any mall, according to industry experts. Thriving malls will be less apparel focused and will include more entertainment, dining and lifestyle/fitness opportunities, said Fortune Senior Writer and retail expert Phil Wahbe in “The Future of Malls in America.” He predicts Simon properties will continue to thrive as other malls vanish.
Fortune reports that Simon’s overall occupancy rate for its 108 malls is strong at about 96 percent. Coconut Point’s occupancy has remained constant since its opening, Grofik said. The newly opened Towneplace Suites by Marriott should drive even more traffic to the mall.
At Miromar, Wasabi Japanese Steak House and Sushi Lounge has opened on the mall’s south end, and a new H&M (a Swedish clothing retailer) is under construction nearby. Miromar offers 20 dining options, from snack vendors like Auntie Anne’s Pretzels to upscale restaurants like Wasabi, while Coconut Point offers 28 dining locations. On the casual end, there’s burgers from Five Guys, and on the upscale end, there’s Ruth’s Chris Steak House.
store (Dillard’s) anchors the south end.
Special events like farmers markets, art festivals and charitable walks add to the foot traffic at both malls during the peak season for vacationers and seasonal residents.
Every mall will experience store closures, but the key is to fill them quickly with something as good, or better than, the previous tenant, Grofik said. Coconut Point’s strategy to combat the rise in e-commerce is simple: “You have to present a shopping experience that’s pleasant with retailers and restaurants that provide excellent service, offer a lot of choices,
and give guests a reason to return.”
Grofik says Simon, as a corporation, has always adapted to changes in the market and will continue to do so. She sees the future particularly bright for Coconut Point Mall, especially if Estero residents continue to support their local retailers.
“Residents need to realize that the more local dollars spent here and the better the tenant performance, the easier it is to retain key retailers and secure new leases for vacancies,” she advised.
©ECCL – June 2017 Report.
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NABOR (Naples Area Board of REALTORS®) just released today the market report for real estate in the Naples area for April 2017.
Here are the principal points of the report.
– Overall inventory in April increased 8 percent to 5,920 homes in April 2017 from 5,480 homes in April 2016.
– Inventory decreased for the second consecutive month and prices continued to remain stable in April, setting into motion a burst in end-of-season sales for homes in the market’s sweet spot – the $300,000 to $500,000 price category.
– The April report showed a 41 percent increase in pending sales for homes in the $2 million and above price category.
– Prices overall have remained relatively flat over the last year.
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During November, contractors pulled 66 permits to build single-family houses collectively valued at about $19.8 million in unincorporated Lee County. That compares with 95 permits issued in October and 47 issued in November 2015, according to the Lee County Department of Community Development (www.leegov.com/dcd/).
Data for 2015 includes permits for the Village of Estero.
Twelve multi-family units were permitted in November, compared with no units in October and six units in November 2015. General commercial activity was valued at about $16.6 million for 18 permits, compared to about $17.7 million in October and about $13.3 million in November 2015. Lee County Community Development issued 2,973 permits of all kinds in November.
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Cascades At Estero – An active-adult (55+) community with beautiful amenities and located in the heart of The Village of Estero, Florida.
Cascades is outstanding by the quality of its amenities: A spacious clubhouse with ballroom, billiards, social room, craft room, card room etc. A large resort-style pool and spa and an indoor lap pool. A state-of-the-art fitness center and tennis center.
The market has been very active in Cascades in the first semester of 2016.
Here is the state of the market, year-to-date: