Downtown Fort Myers just finished a 5 year redevelopment project. Starting in late 2005 all the utilities were replaced and put underground. Sewer and storm drains were replaced. They even deconstructed several of the roads to reclaim about 500,000 old bricks under the pavement. Volunteers cleaned the bricks up and they were replaced back in the streets for an amazing effect. Landscaping and park benches were installed. The entire downtown is looking beautiful.

This project started at the end of the real estate boom. Money was flowing and there was a huge upside in refurbishing the historical downtown which in on the Caloosahatcee (a really big river which is part of the intercoastal waterway and leads to the Gulf of Mexico). Of course, the economy turned, but to Fort Myers' credit they kept going. The local merchants took a beating because of all the construction and street closures. But the downtown survived and is looking unbelievable. Slowing and obstructing traffic to the stores and restaurants was tough on the theatre, the retailers and the restraunteurs. However, they persevered and now business is flowing back into downtown.

What does that mean for you and the real estate market? Simple. Between the prices of all the condo and high rises falling when the investors were caught by the economic downturn, and all the retail stores being strangled by the construction, prices in downtown are really low. You can buy a condo for half to two thirds the price during the boom. Retail space is still a good value. Walk to work. Walk to one of the marinas, parks, restaurants, shops, art galleries, or coffee houses. Unlike so many downtown areas, this place has great character. Each of the buildings are individuals with their own personalities. The high rises and condos are close and they are still talking about starting a water taxi to go up and down the river along the downtown shore. It's beautiful. If you don't like the idea of a condo there is even a historic district with mission style homes and bungalows just outside of the shopping area. Prices in this area not only were affected by the global economy they were affected by the five years of construction. The ribbon was cut on 16JAN10 and everything is looking good for downtown Fort Myers today.