CAPE CORAL, FL--The condo hotel concept has been spreading like wildfire in Florida. Now comes word that Cape Coral, FL, will receives its first condo hotel in 2008 at Tarpon Point Marina.
Fort Myers, FL's Grosse Pointe Development Company Inc. plans to build twin, 19-story buildings overlooking the marina and the Caloosahatchee River as an upscale CONDOMINIUM HOTEL. The condominiums go on sale Jan. 14.
The hotel and restaurants associated with it could bring 175 jobs to Cape Coral, said Mary Anne Baker, a vice president of SunStream Hotels & Resorts, the Fort Myers company that will manage the hotel.
Prices of the 1,225-sf and 2,225-sf condo units probably will run from about $600,000 to $1.3 million, depending on floors and views, said Nick Cross, Grosse Pointe's director of sales and marketing. In March, the majority of traditional condominiums at the development priced at $800,000 to $2.7 million sold out in four months, Cross said.
When the owners are not using the condos they are rented out and the owner gets a percentage of the rent. Details on the split have yet to be worked out. There are deals where the owners get 50% and others where 70% is their split, Cross said.
Guests who do not own condominiums make reservations and the management finds a vacancy in the 184-condo complex.
The contracts between SunStream and Grosse Pointe have yet to be worked out, but residents will be offered a menu of amenities, including weekly and daily turndown service for the beds.
Plans for the Marina Village section of the development, where the hotel will be built, include a pool, spa and deck among other pavilions with retail boutiques and a fitness center.
If that isn't enough and guests want to hit Fort Myers Beach, plans call for a ferry to run between Tarpon Point Marina and Bowditch Point on Fort Myers Beach.

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