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New development on the way in Fort Myers River District

Posted at 8:13 PM, Jan 04, 2022
and last updated 2022-01-05 06:07:50-05

FORT MYERS, Fla. — A huge sale near the Fort Myers River District could mean big changes for the downtown entertainment.

Recently a 4.7-acre plot of land was purchased on West First Street for $20 million dollars.

National Realty Invest Advisors out of New Jersey purchased the land. Phil Fischel of Fischel Property Company in downtown Fort Myers helped broker the deal and confirmed the sale to FOX4.

The land, which is close to Legacy Harbour Hotel & Suites at the corner of Bayside and West First Street, is zoned for a mix of commercial and residential space. Zoning allows up to 25 stories to be built on the site with a parking garage. However, it is unclear what NRIA will use the property for.

Representatives from NRIA said they could not comment on the sale just yet. Officials with the City of Fort Myers told us no permits or approvals have been submitted and planning for the development is in the very early stages.

Fischel did tell us that the nearby businesses, like Legacy Harbour, will continue operating as normal.