Seagate Has A Contract For Gulf View Colony Property

The 4.68 acre piece of property at 2945 Estero Boulevard is immediately adjacent to the Red Coconut property which Seagate also owns. It’s the 4th largest land parcel on Fort Myers Beach. Seagate CEO Matt Price said he couldn’t discuss any potential deal at this time.

The property was listed for $19 million. The contract is for less than that, however nobody was willing to share the sale price on the contract at this point. We spoke to all the real estate agents involved in the deal in addition to Price. Nobody was willing to predict when the deal might officially close either. Unlike the Red Coconut property where Seagate was negotiating with Fran Myers, there are 58 owners of the Gulf View Colony. It was a mobile home neighborhood before Hurricane Ian wiped it off the face of the earth. We spoke to several owners in Gulf View, however, according to terms of the contract they are not allowed to share any of the deal details.

Under the current Town of Fort Myers Beach code a developer by right can build 15 units per acre, that would be 69 units on this property. That increases 2.5 times if a developer wants to build a hotel on that property, or 172 rooms. While Price had no comment on the pending deal, sources we’ve spoken to say that Seagate will want any future project on this property to stand on its own. In other words, if this deal closes, they do not want it to delay the Red Coconut plans with the town saying ‘let’s wait and see what they do next door.’ That’s a scenario London Bay may be faced with at their Outrigger property.

Neighbors on Bahia Via and Curlew want to know what London Bay has planned for the former Charlie’s Restaurant property across the street from the Outrigger property they own. Residents on both streets are concerned London Bay will use the canal behind their homes to shuttle big boats through their backyards every day. They want London Bay to show their cards on that property before the town approves anything across the street. As Mayor Allers recently pointed out, by right, London Bay can use that canal just as the neighbors can. Whether the town can or will ask London Bay to show their cards with Charlie’s before considering approval of The Outrigger property remains to be seen.

The Gulf View Colony property also includes a deeded beach access across Estero Boulevard.

In 2023 Seagate purchased the 10 acre Red Coconut property immediately next to Gulf View Colony for $52 million. Seagate introduced their plans for the Red Coconut on our show April 29th (WATCH IT HERE) Seagate hopes to get before the LPA in August.

The Seagate proposal includes 2 buildings that are home to a total of 137 condo units, 4 single family homes, 3 parks, a restaurant open to the public, a 240 foot view corridor on the beach side of the property, a private pedestrian walkover and a private beach club.
There are also swirling rumors that Seagate is close to purchasing the old Junkanoo property on the beach from Terry Persaud. The old Junkanoo/Fresh Catch building is somehow still standing but clearly needs to be demolished. It’s immediately next to property Seagate now owns as part of the Red Coconut purchase.

One thing Seagate CEO Matt Price has said to us on multiple occasions is that he wants to be a long-term member of the Fort Myers Beach community. They have helped with several community events and we know they are working with community organizations on Fort Myers Beach to help them rebuild.

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