Market Value

194

Crescent Beach has approximately 375’ of Beach frontage. The proposed developer paid $21,500,000 for less than 600’ of adjacent Beach frontage which also includes Canal Street in his proposal. Lee County owns more than 1/3 of the original proposed Beach Front Development.

I’ve been a Real Estate Broker since the early 1970’s. You base market value on current sales! Crescent Beach is currently assessed at $4,793,000. With all the adjacent sales on both sides of Crescent Beach going for almost twice their current assessed value, Crescent Beach should be worth $10,000,000.

Seafarers Park is currently assessed at $791,850. By comparing it to adjacent sales with its prime frontage on Estero Blvd and the cost already absorbed for tearing down buildings, it should be worth $10,600,000. What does it cost to build a parking garage? Do the math!

As an alternative, I would suggest for Lee County to negotiate a trade for Seafarers Park to the developer for an area along the corner of Crescent Street & Fifth Street for them to build a smaller parking garage for the county according to the Town’s codes. The developer could build nice shops and restaurants in the Seafarers Park similar to the shops & restaurants that use to occupy that area.

Estero Blvd needs to remain at its current location. Crescent Beach needs to remain “as is” for our future generations to use and enjoy. We don’t need a mall and hotel to replace Crescent Beach. The County & Town of Ft Myers Beach needs to make it clear that Crescent Beach is not for sale or trade! No exceptions.

Money talks, but once you trade away valuable public beach frontage, the views and natural beauty of Ft Myers Beach will be gone forever!

Sharon McKay

Fort Myers Beach