Cameratta Properties peaks in downtown Fort Myers

COURTESY ILLUSTRATION First Street Village rendering Cameratta Properties' first residential project was a 19-home development in their hometown suburbs of Cleveland, Ohio. Since then, they have built more than 430,000 square feet of office and retail space; 21 residential communities, five golf courses, clubhouses, country clubs and three banquet facilities in Ohio and Florida.

But they really started peaking in downtown Fort Myers with their two 32-story, 361-foot High Point Place Towers condominium - the tallest buildings in Southwest Florida. The Towers jut above the Caloosahatchee River and completely fill in the skyline looking west from First Street in downtown; the final phase of the project was completed last month.

"Immediate occupancy is available," Cameratta's director of sales and marketing Cheryl Yano said.

Across the Street from High Point Place, Cameratta's other Florida flagship project, First Street Village, is in its infancy. First Street Village is being built on the 12-acre site of the old Edison Ford Square, a dilapidated old lot which Cameratta bought in 2003 for more than $6 million. The much anticipated Publix Supermarket there held its ribbon cutting on Nov. 1.

COURTESY PHOTO High Point Condos "The key to a vibrant downtown is to give people a reason to stay downtown," Joe Cameratta, chief executive officer of Cameratta Properties, told Florida Weekly in April. "Our vision for First Street Village is to give the entire surrounding business and residential community the complete lifestyle experience."

First Street Village is a $150-million mixed-use community that offers 353 residential units, approximately 38,000 square feet of divisible office condominiums and over 100,000 square feet of Class "A" retail space, anchored by the newly open Publix. Some top retailers have already signed up for space in the pedestrian friendly development. Starbucks, First Watch Restaurant, and Dagwood Deli are some of the shops that have committed along with a salon & spa, and a drycleaner.

Cameratta Properties, and partner Regency Centers, are also adding 55,000 square feet of retail space and five town homes priced at $400,000.

The next phase, 98 condominium units over retail shops and indoor parking, is set to commence soon, with another 98-unit building set for six months after that. However, a recent news report said that the recent housing market slump, as well as a downtown already awash in upscale condo housing, is causing a delay in the financing for these condo units. Cameratta may scale back this portion of the development.

"…Adding another 353 units to the market right now is not necessarily the smartest thing to do," Cameratta said in that article.

In spite of the market slump, town homes and condos at First Street Village will be available starting in February or March of next year, Yano said.

For more information about First Street Village or High Point Place Towers, call the sales center at 800-238-5994 or visit the sales team at the sales center located at 2164 West First Street.

In addition to these Lee County Developments, Global private equity firm The Carlyle Group and Cameratta announced last August that they will develop a 5,700-acre master-planned community in DeSoto County. The proposed 9-square-mile parcel, known as the 2 x 4 Ranch, is expected to consist of more than 10,000 homes, a town center, government offices, retail stores, commercial office space, schools, houses of worship, a golf course, recreation facilities, athletic fields and walking trails. The property is located south of Arcadia, along two miles of State Road 31 frontage.