Builder secures $38M loan

FORT MYERS — The MacFarlane Group secured a $38 million construction loan to develop senior housing in downtown Fort Myers.

The loan from Jericho, N.Y.-based Acres Capital will allow MacFarlane to complete the redevelopment of the former Amtel hotel in downtown Fort Myers into 323 independent-living apartments called Campo Felice.

Campo Felice is at 2400 Edwards Drive and overlooks the Fort Myers yacht basin on the Caloosahatchee River. The project is scheduled to open for residents in early 2017.