The City of Fort Myers has approved the sale of the former News-Press building for $11.5 million to Catalyst Community Development, which plans to transform the site into a mixed-use development featuring residences, offices, retail, and a hotel.
On March 3, the City Council voted 6-1 in favor of the sale and the accompanying development agreement, with Council Member Terolyn Watson dissenting. The 9.8-acre property, located at Dr. Martin Luther King Jr. Boulevard and Fowler Street, includes the old News-Press building and a former fire station. However, the city will retain 2.4 acres for the future construction of a new police headquarters.
Development Plans
Under the agreement, Catalyst must construct:
- 580 residential units
- 50,000 square feet of retail space
- A 24,000-square-foot grocery store
- 150,000 square feet of office space
- A 140- to 160-room hotel
- Two parking garages
The project is a key component of the Midtown redevelopment plan, which aims to revitalize the area south of downtown.
Timeline and Challenges
The buyer has a 180-day due diligence period to inspect the property, followed by 18 months for permitting before construction can begin. However, Catalyst President Joseph Bonora assured the council that work could start sooner, depending on how quickly permits are obtained.
During the due diligence process, Catalyst identified infrastructure challenges, including the need to remove a stormwater line and determine a solution for a rail spur that runs through the property.
Alternative Development Proposal
Aaron Howard, owner of the adjacent former school board building, and developer Jim Zabora, who played a key role in developing Lake Nona in Orange County, requested a 60-day extension to explore a possible collaboration with Catalyst or propose an alternative plan.
Watson supported the delay, arguing that the city should consider all options to secure the best possible deal. However, Bonora stated that finalizing the sale and development order needed to take priority before discussing potential partnerships, as competing proposals could arise.
Yacht Basin Redevelopment Extension
In addition to the Midtown redevelopment, the City Council granted Suntex, the company redeveloping the city’s yacht basin, a one-year extension on its agreement. The new deadline is April 1, 2026, as the company continues to await permits from the Army Corps of Engineers.
