Developer TPI has officially turned over a piece of property, it owned at the foot of the Matanzas Pass bridge, to the town. The developer behind the new Margaritaville Resort donated the property. The company purchased the parcel for $2 million back in 2015.
The Ocean Jewels location was once home to the Chamber of Commerce. TPI was originally planning to use it as a retail store before TPI’s Tom Torgerson, a Fort Myers Beach resident, decided to donate the property to the town.
One more donation from TPI-FMB to the Town is yet to come in mid-2022. They will be gifting the yet to be constructed Court St. along with its 27 public parking stalls and beach access that can accommodate emergence vehicle access as well to the beach.
This second donation to the town is estimated to cost $4.5 million, when both the land and construction costs are factored in.
TPI made both these concessions to the town during its application process.
The property will become part of the road redesign project the state is working on to help traffic flow getting on and off the island.