When Will We See The Margaritaville Shovels?

5
508

This week TPI gave the community a progress report on the Margaritaville Resort project now that the lawsuits are settled and the company is engaged in the financing phase. The one question that’s now on everyone’s mind is…when will the construction begin? 

TPI is anticipating a project financing term sheet today. If that financing is acceptable, TPI will begin bidding out the construction of the project. Closing on financing and finalizing construction costs and contracts typically takes about three months on a project of this scale. At the same time TPI will be finalizing its final building permits.

Construction of the hotel is expected to take about 25 months so that will include two of the beach’s busy seasons.

Construction will also be coordinated with the two other major beach improvement projects: the base of bridge interchange reconstruction and the Times Square renovation.

TPI is estimating shovels in the ground early next year.

TPI-FMB made Application to the Town of FMB in March 2017 following two years of land assemblage and community outreach. The Town’s Local Planning Agency approved it 5 to 2. Next it went on to Town Council, and with modifications, it was approved twice via unanimous vote with the final one occurring May 22, 2018.

The Margaritaville Resort Fort Myers Beach approved by the town council includes 254 rooms, with 224 on the bay side of Estero Boulevard and 30 on the beach side, with a beach club on the water, four restaurants, a ballroom, spa, ground floor parking and related amenities, including a publicly accessible pedestrian walkover near Estero Blvd & Crescent Street. And a 43,000 square foot elevated terrace overlooking Crescent Beach Park and Times Square.

There will be three public pedestrian beach accesses and public restrooms.

TPI will also be building a public beach parking lot and donating it to the town. And TPI had also previously donated land to the town for the base of bridge interchange redesign.

5 COMMENTS

  1. I’m totally against this hotel project. I have been coming to Ft Myers Beach for over 30 years. I have always enjoyed the small town feel. I’m afraid with this hotel you will get increased traffic. It’s hard enough to get across the bridge now. I’m surprised the residents voting this in. It may end costing the beach money when people start looking elsewhere for a nice quiet place to vacation.

  2. I’m sceptic about the financing side – who in their right mind invests in a hotel at this time? People or funds that usually do invest in hotels sure are not cash-rich at the moment.

  3. I have been a supporter of Margaritaville, I think it will be a wonderful project and an asset to the Island. But, I have to say, there seems to be a growing concern among residents about the added traffic congestion and the possible inability for them to exit the Island over the Sky Bridge with the increase of traffic caused by such a large resort at the foot of the bridge. Has anyone taken the time to read the 85 page report made by the consultant hired by the Town of FMB? He states on page 35, a traffic increase of 101.9%, but continues with “it is not a significant increase”. That is “double” the current traffic. Everyone that lives here on the island already knows what it is like to get off the Island on the Sky Bridge during season, how much worse will it be with a 101.9% increase in traffic?

  4. Best wishes and Godspeed in finalizing financing, permitting and planning to get started as soon as possible! We are super anxious to see demolition and construction begin.

  5. Building costs for materials have shot up in these years waiting out with the frivolous lawsuit. Not to mention their legal costs. We are going to support Margaritaville like none other!!! Just as the Torgersons and TPI have done for the Town. Anyone who complains about the construction …. I will personally “bop on the nose!” This is SO EXCITING! Cleaning up Paradise!

Comments are closed.