Estimated cost surges for downtown Fort Myers hotel

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FILE: Luminary Hotel rendering (Graphic via Mainsail Development/FILE)
FILE: Luminary Hotel rendering (Graphic via Mainsail Development/FILE)

FORT MYERS, Fla. The developer of a new downtown hotel will get $2.6 million more from the city.

Estimated costs for the 243-room, 12-story hotel to be built by Tampa-based Mainsail Lodging and Development have gone up by $8 million. The city’s Community Redevelopment Agency approved a tax rebate loan Monday that gives Mainsail the capital to cover the new tab.

That cost won’t be passed along to taxpayers, City Manager Saaed Kazemi said. Instead, Mainsail will be forced to pay the loan back with interest.

The city’s financial obligation, beyond the loan, remains the same — it will finance a new parking garage and renovate the adjacent Harborside Events Center, which will get a new name once the hotel is completed in 2019.

The project, now estimated to cost a combined $87 million is the culmination of a push by city leaders that’s lasted more than a decade. Mayor Randy Henderson called the hotel’s ceremonial groundbreaking a “major milestone” for the city when it took place in October.

MORE: Ground broken on long-awaited Fort Myers hotel 
MORE: New downtown Fort Myers hotel renderings released

Below are additional renderings and information about the hotel:

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