In May and June of 2018, the value of Estero’s commercial permits totaled $18,494,797. This more than doubled the total commercial investment in the first four months of the year. Major investments included: $9.6 million at Pelican Sound to remodel the clubhouse and build a new racquet club, $2.0 million for a dialysis facility in Corkscrew Palms, $1.2 million for Genova’s clubhouse and other infrastructure costs, $1.2 million for a new Chase Bank in University Highland, and $1.2 million for remodeling by tenants within Coconut Point Mall.
For comparison purposes, last year’s first half-year figure shown below ($104 million) includes an $82 million permit for the Lee Health — Coconut Point health and wellness campus. Excluding the 2017 Lee permit, new investments thus far in 2018, exceed the mid-year figures for both 2016 and 2017.
The table below compares 2018 year-to-date totals with those of the previous 18 years:
Note: The building values above exclude the value of the underlying land.