Fort Myers City Council approved development Monday of the long-awaited Luminary Hotel to be built on land just east of the Harborside Event Center in the city's River District.
"All in, a $91 million project," said Joe Collier, president of Mainsail Lodging and Development, which has developed the project. " For a town the size of Fort Myers, this is a significant project."
But when the land was sold to the city for $100 in 1936, the sellers stipulated that the property only be used for a park or a boat basin.
"It was certainly a little bit of heartburn for us at the beginning when we saw there was a deed restriction," Collier said. "The bank is not going to loan us the money without a clear title."
During public comment, Fort Myers resident Ann Martindale told council members that a deal made over eighty years ago should still be honored.
"It's absolutely ridiculous and irresponsible," Martindale said.
"I'm not opposed to the hotel per se," she added. "But I'm opposed to this breach of public trust."
Collier believes the 12-story, 243-room hotel will benefit the city more than another park or marina could. He said a number of legal teams have given the new deal a thumbs-up.
"All the lawyers have taken a look at this - our lawyers, the bank's lawyer's - guys that specialize in this type of title action," he said. "So it's going to be fine."
Collier said construction on the Luminary Hotel - which will include a new parking garage - is expected to begin within days, and should be open for business in about 22 months.
