Carousel Inn makes way for Gulfside Twelve

By NATHAN MAYBERG nmayberg@breezenewspapers com

The Carousel Inn, one year away from a 60th anniversary and one of the last of the old-time motels on Fort Myers Beach, is now one with the sand and pebbles of the beach

I t s d e m o l i s h m e n t w a s declared complete Monday by Gulfside Twelve developer Tim O’Neill O’Neill is in the midst of constructing two buildings of luxury homes on two parcels he and his Illinois company D u b l i n R e a l E s t a t e I n v e s t m e n t G r o u p L L C p u r c h a s e d . “ I t ’ s t o t a l l y d o w n , ” O ’ N e i l l s a i d Monday “Everything has been scraped We are putting backfill in ”

“We’re really still very bullish on Fort Myers Beach. The cleanup is going as quickly as it can. We didn’t waive when it came to what was going to happen post-Ian ”

TIM O'NEILL Dublin Real Estate Investment Group CEO

T h e g r o u p f i r s t p u rc h a s e d a n e i g h b o r i n g vacant parcel for $4 5 million in 2021 before closing on the Carousel Inn in November for $7 million O’Neill and his investment group had an option on the Carousel Inn which they closed on, unafraid of the future for Fort Myers Beach after Hurricane Ian. “We could have walked away and not bought it,” he said

“We’re really still very bullish on Fort Myers Beach The cleanup is going as quickly as it can,” O’Neill said “We didn’t waver when it came to what was going to happen post-Ian ”

They will construct eight units on the Carousel Inn parcel There will be a swimming pool in between the first phase building and Carousel Inn property

All four homes for the first phase of Gulfside Twelve have been sold on the parcel adjacent to the Carousel Inn Those homes are expected to be ready by the fall, O’Neill said. The top floor rooftop penthouse sold for $5 million and the other three homes sold for $4 million each Each home is about 4,000 square feet and represents one floor of a five-story building with a rooftop The first floor is for parking

O’Neill said they have just completed final drawings for the eight phase two units There will be five floors as well on the second building, with the first floor for parking There will be two units on each floor with approximately 4,000 square feet of space O’Neill said there has been strong interest

The starting price for the phase two units is $4 1 million with the two rooftop penthouses listed for $5.1 million O’Neill said there has been interest from those looking to buy second and third homes as well as Fort Myers Beach residents and others in the area

“We’re a little bit further down the road than a lot of new developments that are going to go up on the beach,” O’Neill said

He was encouraged that the phase one construction of Gulfside Twelve withstood Hurricane Ian The construction was about six months along at the time, he said “It did exactly what it was supposed to do ” They are also working with a consultant on the town’s emergency berm project which will replenish the beach with sand as well as construct dunes

He is optimistic for the future of the island

“There will be a lot of new buildings Everything is going to be up to code The change will be difficult for some people We’re really excited to be a part of the rebuilding process,” O’Neill said He believes the new homes that will be constructed on the island will be able to handle future hurricanes, the same way that his development did

“We’re ready to rock and roll,” O’Neill said

W e e k o f W e d n e s d a y , F e b r u a r y 2 2 , 2 0 2 3 f o r t m y e r s b e a c h t a l k . c o m F o r t M y e r s B e a c h O b s e r v e r