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Apartments, Aldi break ground on Summerlin

October 18, 2017
Jessica Salmond - News Editor ( , Fort Myers Beach Bulletin, Fort Myers Beach Observer

The corner of Summerlin Road and Pine Ridge Road will soon be home to the next apartment and commercial center near Fort Myers Beach.

Dirt has been moving on the approximately 20-acre site. In 2016, the property sold for $1.6 million. Atlanta-based developer, 360 Residential, is planning 224 luxury apartment units on the property. The first units will be available for rent in October 2018. A separate parcel and separate owner is developing a small commercial center, and Aldi will be the anchor grocery store to serve the new apartment community.

Taylor Hawke, vice president of 360 Residential, said while the apartment complex and the commercial center are unaffiliated, they are working together.

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Work has begun to develop two parcels on the corner of Summerlin Road and Pine Ridge Road for a 224-unit apartment complex and a commercial center anchoring Aldi.

Hawke said their target renter is the "million dollar question."

"I've been traveling down here and feeling out the market," she said. "It will be a little bit of everyone."

The apartments will have high-end features like granite counter tops and amenities such as a fitness center, pool and dog park. The four-building complex, as yet unnamed, will each have four stories with elevators, an amenity Hawke said was lacking in other apartment complexes.

The price points have not been set for the one-, two- or three-bedroom units as of yet, however, they are not going to be classed as affordable or workforce housing. Hawke said the units will be priced at the higher end of the market, and compared the future rental structure to Channelside. Channelside is an apartment complex on Pine Ridge Road near Gladiolus Channelside's price points start at $1,060 for a 686-square-foot one-bedroom apartment and climb upward to a three-bedroom, 1,247 square-foot apartment at $1,632.

With the proximity of the beach, the Sanibel Outlets, and the Health Park, Hawke said her company hopes to draw some young professionals to their new development. And with an Aldi opening next door, it will be a walkable place to live, she said.

Aldi is a low-cost grocery store which uses cost-saving measures such as its bring-your-own-bag and selling its own brand to maintain a lower expense threshold. It will compete with Publix and Walmart nearby.

Chris Hewitt, Royal Palm Beach division vice president for Aldi, confirmed via email that Aldi is going vertical at Summerlin and Pine Ridge, its fourth Lee County location. There's no set opening date yet except that Hewitt said it will open in 2018.

The Fort Myers Beach location will be a 19,000-square-foot building, fitting about five aisles of sales space, his email said. The store will employ 15 to 20 people.



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