TPI Purchases Silver Sands Property For $7.1 Million

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The popular resort on Estero Boulevard was destroyed on September 28th when Hurricane Ian came through town. The Margaritaville developer has purchased the property and will use it as part of the new resort now under construction.

In 1983 the Silver Sands Resort was established as a condominium residential resort with a mix of patio residential dwellings and hotel units. Some of the structures date back to 1960. At some point in time one of the dwelling units was converted to a restaurant at the corner of Primo and Estero.

In modern times, Andrea Groves was the owner and operator of the resort with her late husband Tom. Over the years a very loyal following of resort guests were developed. The restaurant was operated by Adam Clark and Jason Unger as the well-known Dog House.

Andrea has been a longtime active contributor to the downtown area of Fort Myers Beach. Following Tom’s passing, on and off Andrea and TPI would banter back and forth about the possibility of TPI purchasing the resort, however, it was just never the right time. Unfortunately, Hurricane Ian completely destroyed the resort and it was not able to be rebuilt as it was previously, due to new FEMA codes.

TPI has purchased the property and intends to use the grandfathered density rights (Post-Disaster Build Back Policy) to rebuild it again as a resort. It would be an extension of the Margaritaville Resort comprised of balcony suites with parking underneath and some retail along Estero Blvd. The project is currently in the design stage with application mid-year to the Town followed by construction next year.

The location is directly across Estero Blvd. from the future Fins Up Beach Club. The back portion of the property has backwater canal access. The entire property is within the Downtown Pedestrian Commercial zoning district.

The new Margaritaville resort will open in early 2025

 

10 COMMENTS

  1. I live in the real world, we are MORE than fortunate to have TPI and others willing to risk big capital on our Beach. It takes guts to invest in our future. I don’t miss black and white T V but rue the Internet, that’s real life. Just saying 👍🇺🇸

  2. If you want to blame someone, pick the insurance companies. If they offer pennies on the dollar and ignore what owners have paid in premiums for years then shame on them. If I get f&$ked by my insurance company and then someone offers $7 million, you bet your behind I’d take the money and run!!!

  3. Super excited! Small shop opportunities at street level will serve a great purpose. Having the developer living just around the corner from there, makes it about as local as it could possibly be in these times of building and construction. Hoping the shops are not the little overdone tourist t-shirt and cheap stuff…. but rather something special. It is all going to be done beautifully and well thought out.

  4. Sadly modernization happens but it’s hard Red Coconut gone Silver Sands gone. The beach has lost its small town vibe. Will it be renamed Miami west?

  5. Sad but the fact that Margaritaville will make it a beautiful resort is not a bad thing. I own on the island and the damage is done and we need to rebuild. It will be beautiful and there will be a mix of new and big business with small hometown cottages still available. There is no going back. Time to accept these things as a positive.

  6. Jim — It’s more like “Another Mom & Pop business bites the dust to a catastrophic hurricane”. Hurricane Charley decimated the area that now encompasses the main resort and Hurricane Ian now destroyed the Silver Sands. Of all of the possible outcomes TPI and Margaritaville will prove to be the best ownership the Island could ever ask for.

  7. So sad, we loved the Silver Sands it was our favorite place to stay in FMB. It was our go to staycation, loved putting our boat on the dock behind our cottage, the people were wonderful.

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