A controversial condo project is off the table - at least for now. Owners of an 18-acre site along Colonial Boulevard and Metro Parkway now say they’re having second thoughts.

La Vita would have featured several eight-story high-rises, which the Port Authority opposed because of how close they would have been to the Page Field Airport.

Monday night, we learned the owners may scrap the plans because of market conditions.

“When you have this type of recession, the question is, what will come back first — the residential or the commercial? So, we’re doing some studies, we’re checking the market, and we’ll take it from there,” said Izhak Orgad of Orchid Island Fort Myers Ltd.

Other possibilities for the development include restaurants and a shopping center.

Source

This entry was posted on Wednesday, February 6th, 2008 at 11:59 pm and is filed under Condo, Real Estate. Tags: Condo development Fort Myers restaurant . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.