WCI to build 21-story condo tower

BONITA SPRINGS — WCI Communities, which built condominium towers during the boom around Florida, says it plans to build its first tower project in seven years.

Construction on the 21-story condo tower at The Colony Golf & Bay Club in Bonita Springs will begin in the middle of next year and be completed by the second quarter of 2017. Prices were not disclosed for the 76 luxury residences planned for the tower that's called Altaira.

The announcement confirms the recovery in residential real estate, as prices of existing condos rise and supply declines. “Towers have always been part of the lifestyle mix in Southwest Florida,” says Paul Erhardt, senior vice president of homebuilding and development for Bonita Springs-based WCI, in a statement. “We've monitored the market research closely, and homebuyers are telling us they're ready for the next generation of tower living.”