Fort Myers property slated for luxury condos back on market for $16M

Reporter: Dannielle Garcia Writer: Jack Lowenstein
Published: Updated:
Luxury tower models for the would-be “Allure” and “One” that will no longer be constructed after Miami-based developer Jaxi has abandoned the projects and elected to put the property back on the market for an asking price of $16 million Wednesday, Oct. 16, 2019. Credit: FILE Photo, WINK News.

Two multi-million-dollar properties in downtown Fort Myers are now back on the market Wednesday. It comes after the development company that planned to build luxury towers at the spot walked away from the project. The properties are just east of the historic The Heitman House on First Street.

Miami-based development company Jaxi is giving up on its luxury condominium project after coming to Fort Myers with bold promises about two new high rises.

Jaxi hopes to make a large sum of money by selling the land for $16 million after purchasing it for $.7 million in 2015.

Jaxi originally hoped to construct two luxury condominiums along First Street called “Allure” and “One.”

“Allure” was supposed to be a 32-story building with nearly 300 units and bring hundreds of people to the area.

Jaxi hoped to get up to $500,000 per condo with an average rate in between $300,000 and $400,000.

The fanfare included sculptures that created lots of controversy and are still all over downtown.

Jaxi didn’t plan to start construction until the condos were 65 to 75 percent sold out. That never happened, and no one with Jaxi would speak with us Wednesday. We also reached out to Fort Myers officials, including Mayor Randy Henderson, and no one from the city responded.

Any potential buyer could take advantage of tax increment financing, which is a subsidy that can be used in redevelopment or community improvement projects.

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