Downtown mixed-use project launched again

With a new design and drastically lower prices, Cameratta Properties is relaunching it First Street Village mixed-use development on the western edge of downtown Fort Myers.  "There's no better time to buy anything right now," said Joe Cameratta, chief executive officer of the Ft Myers based company, which is relaunching the project Friday after a three year hiatus caused by the housing crash.  The development sits across W. First St. from High Point Place, Cameratta's high rise, riverfront condominium that's about 70 percent sold out.  Cameratta said he hopes First Street Village's walking distance access to Publix and other shops, as well as to the restaurants, galleries and offices of downtown, will give customers something new; a convenient urban lifestyle in the city.  When First Street was designed five years ago, it included 350 condos in addition to a retail area.  Publix opened in November 2007 and some other stores are open, but the retail component was never completed and the condos were never started.  Now the project will include only 200 two and three bedroom condos in four 50-unit buildings around a courtyard.  The first building's units range from $149,900 to $233,900.  That's less than half what the original development-conceived at the height of the real estate boom-would have cost.  "Our customer profile is a single person, corporate executive or retired couple, many of whom will come from big cities such as Boston and New York, Cameratta said.  Don Paight, executive director of the Ft. Myers Redevelopment Agency, said seeing First Street Village moving forward again is a good sign for a downtown that's starting to show signs of life all along the waterfront.  "I think it really keeps the momentum going down here if they get started up again."  Cameratta said much of the credit for First Street's rejuvenation should go to the infusion of $21 million from Marcel Arsenault, the Louisville, Colorado based entrepreneur who bought into High Point and First Street Village.  "He's a visionary" who spotted the opportunity to buy at the right time, Cameratta said.