Palmera on the River

Palmera on the River will be the first residential tower to be constructed along East First Street since the Beau Rivage, Riviera, and St. Tropez high rises were completed a dozen years ago.

This urban infill project will be a 7-story concrete block multi-family community that will feature 221 apartments and a 334-space covered parking structure. The 2-acre vacant lot, located at the foot of northbound Edison Bridge, has been left undeveloped for several decades. Total cost of the project will be $56.6 million. When completed, the project is estimated add $36.6 million to the City of Fort Myers’ tax base. The Fort Myers CRA Board of Commissioners approved Palmera on the River for a tax increment rebate for $9.535 million. The start date is June 30, 2022, and proposed completion is June 30, 2024.

Commencement Date

June 30, 2023

Proposed Completion Date

June 30, 2026


2543 First St. Fort Myers, FL 33901


Seawall was repaired as of 01/03/2024. Still on track to complete by June 2026.


Vertical building permits are ready to be issued. Still looking at a completion date of June 2026.