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.
“We are pleased to be working with Acres Capital again. Their professionals are a natural fit for our organization's vision, values and goals,” says Rebekah MacFarlane Barney, director of operations for The MacFarlane Group, in a statement. The MacFarlane Group has built three residential towers in downtown Fort Myers.
The $60 million Campo Felice project is among several others in a new wave of development in downtown Fort Myers totaling $500 million. You can read more about new developments in downtown Fort Myers by clicking here.