Hancock Bridge Square Plaza Updates

Hancock Bridge Square Plaza Updates

The Hancock Bridge Square Plaza is a commercial shopping center located in North Fort Myers, Florida, USA. It is situated at the intersection of Hancock Bridge Parkway and US41, near the Caloosahatchee River.

The Hancock Bridge Square Plaza has a long history and is a source of questions/contention. The plaza once had anchored retail stores. The plaza was built in 1984 and originally housed a Wal-Mart, Office Depot, and many smaller stores. Over time, the market shifted over the bridge, resulting in many businesses leaving. When Office Depot left in 2015, that pretty much left the plaza without an anchor. The plaza then fell into disarray with the condition of the parking lot being a primary source of contention with the locals.

Hancock Bridge Square Plaza traded on 9/21/2022 for $12,800,000.00 The buyer (Delaware Company, the listed Managers all appear to be out of Miami) was M ICMC HANCOCK BRIDGE OWNER LLC.  The seller was Hancock Bridge Square, LLC  

The old grocery store and Irish restaurant were not included in the deal, remaining in the hands of the previous owner, Hancock Bridge Square, LLC, which had bought the plaza in 2013.

The current owner has the same address as MAST CAPITAL

Mast Capital made a splash in 2021 when it paid more than $100 million for a prime development site in Miami’s Brickell neighborhood. More than a year later, Mast Capital CEO and founder Camilo Miguel Jr. said he considers the price a bargain, given the continued in-migration of residents and companies to South Florida. “There’s a lot of wealth coming to Miami,” Miguel said. “The way I look at Southeast Florida and Miami is that it’s positioned to outperform the rest of the country.”

It is currently being rezoned per Lee County: Hancock Bridge Square Redevelopment

The scope of work listed is: Demolish the existing vacant retail building and redevelop the site with 320 multi-family dwelling units with private, on-site recreational amenities. The multifamily project will support surrounding commercial retail uses and serve as a catalyst for similar high-quality redevelopment along the US 41 corridor in North Fort Myers.

The point of contact for the Development order Record DOS2023-00037 is Atwell, LLC located in Bradenton Fl

This will take a while to complete. North Fort Myers could really use the Multi-Family and the property certainly needs a facelift.

Please contact us if we can be of service to you.

A multifamily development in North Fort Myers could have several effects on the community. Here are some potential impacts to consider:

  1. Increased Population Density: One of the most significant effects of multifamily development is the potential increase in population density. Depending on the size of the development, it could bring hundreds or even thousands of new residents to the area. This could put additional strain on local infrastructure, including roads, schools, and utilities.
  2. Increased Economic Activity: On the positive side, a multifamily development could also bring increased economic activity to North Fort Myers. New residents will need goods and services, which could stimulate local businesses and create new job opportunities. The development itself could also generate economic activity during the construction phase.
  3. Changes to the Character of the Area: Depending on the design of the development, it could change the character of the area. For example, if it is a large complex with many buildings, it could create a more urban feel in an area that was previously more rural or suburban. This could have both positive and negative effects on the community.
  4. Increased Traffic: A multifamily development could also lead to increased traffic in the area. This could be particularly problematic if the local roads are already congested. It could also lead to safety concerns, especially if there are many pedestrians or bicyclists in the area.
  5. Affordable Housing: Finally, a multifamily development could provide much-needed affordable housing options for residents in North Fort Myers. This could be especially important for those who work in the area but cannot afford to live there. However, it is important to ensure that the development is designed in a way that is both affordable and sustainable over the long term.

Overall, a multifamily development could have both positive and negative effects on North Fort Myers. It is important to carefully consider the potential impacts and to work with developers to ensure that the development is designed in a way that benefits the community as a whole.

North Fort Myers is an unincorporated community located in Lee County, Florida, United States. It is situated on the north shore of the Caloosahatchee River, which separates it from the city of Fort Myers to the south. The community has a population of around 40,000 people and covers an area of approximately 70 square miles.

North Fort Myers has a subtropical climate, with hot, humid summers and mild winters. The area is known for its beautiful weather and abundant sunshine, which attracts many tourists and retirees. The community offers a range of outdoor recreational activities, including boating, fishing, golfing, and hiking.

In addition to its natural beauty and recreational opportunities, North Fort Myers has a thriving economy. The community is home to a number of businesses, including retail stores, restaurants, and service providers. It is also home to several manufacturing and distribution centers, which provide jobs for many residents.

North Fort Myers has a diverse population, with a mix of retirees, families, and young professionals. The community is served by the Lee County School District, which operates several schools in the area. It also has several healthcare facilities, including Lee Health North, and several medical clinics.

Overall, North Fort Myers offers a high quality of life for its residents, with a pleasant climate, beautiful natural surroundings, and a range of amenities and services. It is a vibrant and growing community, with many opportunities for business, recreation, and social interaction.

Build-to-rent investing is a strategy in which an investor or a group of investors constructs or develops a rental property and then rents it out to tenants Click here to learn more

 Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals has decades of experience and has navigated through many business cycles. Our diverse background gives us the tools to guide people toward successful decisions.

 

 

 


 

 

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