Estero’s Planning, Zoning & Design Board unanimously granted a continuance on Oct. 20 for a proposed 355-unit apartment complex at Coconut Point, on the site of the former Regal theater. Members liked the concept but raised concerns about density, height relative to green space, and the garage’s single entrance. A second hearing is set for Nov. 17, and Estero Village Council has the final vote.
Estero’s planning board has pushed its decision on apartments at Coconut Point to a second hearing, according to Gulfshore Business. The site is the 6.85-acre parcel that held the Regal theater, which closed in November 2022.
The 355-Unit Coconut Point Apartment Proposal
Developers, site, and size
The developers, Simon Property Group and Waypoint Residential, first presented the plan in January and at a workshop in March. Since then they cut 10 units and reduced the building from five stories to four.
What Estero’s Planning Board Said on Oct. 20
Density, green space, and parking concerns
The board did not recommend approval or denial. Members said they liked an apartment use as a replacement for the cinema, but wanted changes before moving forward.
What Happens Next: Nov. 17 Hearing and Village Council Vote
Estero approval timeline
Any recommendation depends on whether the project meets Estero’s land development code and comprehensive plan.
What It Means for Estero Residents and Owners
Coconut Point area context
Plans like this are still early, and the design may change before any vote. The rent and demand figures come from a study the developer funded, so treat them as the developer’s data. This summary does not assess traffic or property-value effects.
Estero
Estero neighborhoods and homes for sale near Coconut Point.
Bonita Springs
The neighboring community just south of Estero.
Market Reports
Current Naples and Bonita Springs market data.
Coconut Point Apartments: FAQ
Quick answers
What is proposed at Coconut Point in Estero?
A 355-unit, four-story apartment complex with a parking garage on 6.85 acres at the former Regal theater site.
Who is developing the Coconut Point apartments?
Simon Property Group and Waypoint Residential.
What did Estero's planning board decide?
On Oct. 20 it unanimously granted a continuance so the developers can revise the plan, without recommending approval or denial.
Why did board members have concerns?
They cited high density, insufficient green space relative to building height, and the garage's single entrance and exit.
When is the next hearing on the Coconut Point apartments?
The second Planning, Zoning & Design Board hearing is Nov. 17. Estero Village Council makes the final vote.
When could the Coconut Point apartments open?
Not before 2029, if the project is approved.
How can Estero residents follow or comment on the plan?
Check the Village of Estero's meeting agendas for the Nov. 17 hearing and public comment options. If you own nearby and want to talk through how area development could factor into a sale or purchase, call or text Jeremy O'Guinn at 239-963-4474.
Source: Gulfshore Business (Oct. 21, 2026). Details are drawn from that report; verify with the Village of Estero before relying on them for a decision.
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