The old Lahaina Inn Resort at 5600 Estero Blvd. is among the latest Ian wreckage to hit the market. Or in this case, re-hit the market.
Selling for $30 million, the 2.6 acres includes 360 feet of Gulf of Mexico frontage, according to brokers, LSI Cos.
Built more than four decades ago with interval ownership in mind, the property featured 37 accommodations ranging from efficiencies to three bedrooms in various two-story structures to go with a pair of swimming pools, records show.
After Ian hammered the complex, owners decided Thanksgiving weekend against rebuilding, which was estimated to cost more than $30 million, according to summaries of board meetings and owner communications viewed by In the Know. A 75% yes vote would have been required by the owners, who were holding their latest meeting a couple of days ago at the Bonita Springs Public Library.
By January, the property was under contract with condominium builders, Dublin Real Estate Investment Group, which is currently constructing its centerpiece of Gulfside Twelve condos on part of the sands that had held the Carousel Inn 3,500 feet away. However, the agreement was dropped over the summer after Dublin proposed a hotel concept that would involve current owners as fellow investors and would mean delayed payouts until after the new resort was completed.
Based at the Naples Daily News, Columnist Phil Fernandez ([email protected]), who grew up in Southwest Florida, writes In the Know as part of the USA TODAY NETWORK. Support Democracy and subscribe to a newspaper.
This article originally appeared on Fort Myers News-Press: Fort Myers Beach Lahaina Inn resort back on the real estate market
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email [email protected]