Massive makeover for Terraces at Royal Palm Square: What to expect

Samantha Neely, Fort Myers News-Press
Updated ·3 min read

Residents, be on the lookout: More housing is headed to the Fort Myers area.

Alessio Development officials have released renderings for the long-awaited Terraces at Royal Palm project, highlighting the 40 townhomes and a 15-story condominium tower set to come to the shopping center.

“The Terraces at Royal Palm is going to redefine luxury living in Fort Myers," Realtor and team lead Damon Vetere said in a release. "These multi-level homes are inspired by metropolitan architecture and are a fusion of exceptional design, functionality and the highest construction standards and materials. Coldwell Banker Realty and The Vetere Team are excited to share this unique vision with our community.”

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What is happening with the Royal Palm Square Shopping Center?

Vetere and the Vetere Team will be marketing and handling sales for The Terraces at Royal Palm, located in the heart of Fort Myers on 1400 Colonial Blvd.

The first phase of the proposed master-planned, multi-phase, mixed-use community consists of 40 luxury townhomes with four stories, including rooftop living space. The townhomes will be built as five units per building, with a total of eight buildings.

Officials said the groundbreaking is scheduled to take place soon.

“There truly is only one Fort Myers. Alessio Companies is proud to contribute to the rich history of this very special place,” Michael Alessio, president of Alessio Companies, said.

What amenities will it have?

The Terraces at Royal Palms townhomes will feature spacious floor plans, modern finishes, private two-car garages, private entrances, expansive rooftop terraces and private balconies. The townhomes will range from 2,400 to 2,500 square feet.

The first phase of the proposed master-planned, multi-phase, mixed-use community being built on the site of the Royal Palm Square Shopping Center consists of 40 luxury townhomes with four stories, including rooftop living space.
The first phase of the proposed master-planned, multi-phase, mixed-use community being built on the site of the Royal Palm Square Shopping Center consists of 40 luxury townhomes with four stories, including rooftop living space.

“The re-imagination of Royal Palm Square is much needed and long overdue. Our office is confident that the thoughtful redevelopment of Royal Palm is in very good hands with Alessio Companies and The Vetere Team,” said the attorney for the project, Sawyer C. Smith.

Officials said this will be the first project of its kind in the city, bringing together these townhome units and a 15-story residential tower with retail, restaurants, art and expansive green space, all in one location within walking distance of residences. The project’s modern design and sustainable features prioritize "energy efficiency and reduce environmental impact while providing residents with a vibrant and convenient lifestyle."

When was the project announced?

Alessio Holdings announced the project last year after they purchased the 14-acre site from ALS Commercial II LLC for $12 million in a deal that included $3 million worth of equipment.

Who is Alessio Holdings?

Alessio Companies is a Chicago-based construction, development, excavation and environmental service company that has recently established its Southeastern United States headquarters in Fort Myers.

Alessio has made other investments in the Fort Myers community, purchasing the Richards Building downtown for $2 million. The company also has bought 159 acres at the southwest quadrant of Interstate 75 and State Road 82 for $10 million.

The first phase of the proposed master-planned, multi-phase mixed use community being built on the site of the Royal Palm Square Shopping Center consists of 40 luxury townhomes with four stories, including rooftop living space.
The first phase of the proposed master-planned, multi-phase mixed use community being built on the site of the Royal Palm Square Shopping Center consists of 40 luxury townhomes with four stories, including rooftop living space.

When will it be completed?

Alessio Companies does not have a timeline of when it will complete the project.

A sales and design center located at 1400 Colonial Boulevard, Suite 65, in Fort Myers, is set to open this summer.

What will happen to the other businesses in the plaza?

According to officials, the popular Broadway Palm Dinner Theatre will continue to operate during the construction of phase one. The Omni Fitness Center is scheduled to open this fall in two of the nine existing buildings.

Most of the existing businesses within the shopping center will be moved to make room for the new townhouses.

This article originally appeared on Fort Myers News-Press: Terraces at Royal Palm Square: Renderings, what's coming to Fort Myers