Downtown Fort Myers Renaissance is Real

"Ten years ago I visited downtown Fort Myers and asked 'Why are pigeons living here instead of people?,' " says Roger Patch Jr., co-owner and project manager of the Patio de Leon Land Trust. "A

year ago, people were still

doubtful that we could get things going. Today, people are worried that they're too late..."

Visionaries from Fort Myers,

Colorado, Chicago, Germany,

Ireland, Italy and the United

Kingdom are sinking their hearts and bank accounts into a startling revitalization of historic downtown Fort Myers.

After years of waiting, watching and wanting just such a rebirth the obvious question is: why now?

Thus begins the story behind the story. How city mayors and council members convinced county, state and federal government agencies to

commit to downtown locations. How downtown improvements by the public sector caught the eye of European investors raised on a tradition of preserving historic

sites. How their influx of fresh enthusiasm reignited local downtown property owners who have doggedly maintained their belief in a viable central business district through lean economic times. How public sentiment, tired

of suburbia sameness, is

relearning to appreciate the charm of living on and enjoying America's Main Streets.

Pendulum Swings To Downtowns

"We've had 30 buildings purchased in 30 months," says Don Paight, executive director for the city's Downtown Redevelopment Agency. "New owners of historic buildings

are routinely sinking $1 million and more into renovations."

Investor tours of the city duringthe past six years showed annual progress in public amenities and instilled mounting conviction that

the city will be successful. In some cases, strategic government financial incentives helped the bottom line make sense.

Many

investors, however, are proceeding on their own.

Working together, they are helping to achieve the critical balance of

public, private, merchant,

not-for-profit and commnity

involvement needed to succeed. In consequence, at least eight

companies who had leased their

downtown office buildings now own them. Retail and commercial leasing is running at 75 to 80 percent in much of the newly renovated space. Young professionals are on waiting lists for residential apartments coming

online.

"It hasn't been an overnight

phenomenon," Paight says. He

refers to the original 1986 master plan for downtown redevelopment. "The analogy I like to use is that

of an actor who has been toiling off Broadway for 10 years. He finally gets the big hit that makes his career. We have much work to do, but the grand success we've imagined is happening."

Tom Cronin Sr. and his son Tom

Cronin Jr., the family behind The

Chart House property on West First

Street, are among long-time

supporters willing to take a stand

for downtown. The Cronins are

backing the twin cornerstone

Pleasure Pier entertainment and

shopping complex and Pleasure Key

Caloosahatchee River destination

restaurant and museum that will be

connected to shoreline attractions

by water taxi.

"We're spending $10 million to

bring back the downtown

waterfront. It's the biggest

investment we've made, other than

the local hospital. We believe

that the pendulum is swinging and

people are ready to bounce back to

the core city," says Cronin Sr.,

who also believes that a strong

core can help maintain values in

other parts of a city.

Bill Smith, CEO of Bill Smith

Inc., has owned the cornerstone

First Street Bradford Block and

MarketPlace between Jackson and

Hendry streets as well as other

downtown properties since the

1970s. Though he characterizes

himself as a realist and

acknowledges that romantic notions

don't ring the register, he--and

his family, too--have kept the

dream alive.

"We've been by our lonesome for

many years and are thrilled to see

all the renewed interest and

projects coming in," says Smith.

"It's motivated us to redo our

building facades to make them more

aesthetically appealing." Good

management has kept Smith's

apartments, office and retail

space occupied even through the

1980s national economic downturns.

Up the street, hammers are humming

as Roger Patch Jr. and three

German investors rehabilitate a

half-block on First and Hendry

streets known as Patio de Leon.

Planned fountains, trees and a

patio gazebo complemented with

benches, music and art shows will

play well.

"I've been working to get this

project off the ground for 10

years," says Patch. "Finding

partners who have experience

renovating historic mansions made

my dream possible." Patch has a

waiting list for apartments and

has leased nine of 10 commercial

spaces ready to open in October.

U.K. investors perhaps led the

bandwagon of private downtown

investment by breathing new life

into The Dean Hotel, a First

Street property that had stood

vacant for a decade. "Downtown

apartments are always in demand,

and we are happy with the

first-year results. An opportunity

is an opportunity, wherever you

find it," says Kim Jack, business

developer and general partner of

The Old Morgan Inc., which leases

the first floor to the delightful

Morgan House restaurant at the

corner of Dean Street.

Jack notes that Smith's success

with the Bradford Block apartments

set a precedent. Still, bank

financing proved an initial

stumbling block. Now that his

project is 80 percent complete and

has a promising cash flow, "The

banks are talking to me, and I'm

considering other downtown

commercial investments," he says.

"Many times it takes outside

investors to get things started,"

Paight says. "Living with subtle

incremental changes day to day,

you can miss what newcomers see

right away."

Speeding Ahead on All Fronts

Fort Myers Mayor Bruce Grady has

impressed investors with his

hands-on approach to helping land

new development downtown. They

applaud local authorities' general

preparedness, flexibility and

cohesiveness in helping to make

things happen. "A primary duty of

this office is to bring in

projects that get the city going,"

says Grady. "It's the best, most

exciting part of my job."

Grady points to the city's success

in winning a commitment by

Buquebus [boo-kay-boos] as an

example of the payoff for

collaborative efforts. Buquebus, a

world leader in high-speed ferry

transport, will bring 60 jobs to

its Fort Myers office and

waterfront terminal. Starting

early next year, two daily 50- to

60-knot two-way boat trips

originating in Fort Myers will cut

travel time from Florida cities

like Orlando, Sarasota and Tampa

to Key West, serving more than

half a million passengers a year.

"Those visitors will need hotel

rooms and restaurant meals. And

think of the thousands of people

strolling around downtown,

exploring the sights and shops.

It's the best return on investment

that one could ask for," says

Mayor Grady, who sees his mission

as facilitating