An aerial graphic of the planned Margaritaville resort on Fort Myers Beach. Graphic provided

TPI, the company behind Margaritaville on Fort Myers Beach, announced that it is nearing completion of financing and expects businesses on property it owns to begin closing this month to make way for the multi-million dollar project.

The company, in a post on Facebook, stated it expects to begin construction on the 254-room resort and commercial property in July. The company last pushed back its expected construction dates in February, when it targeted June as the start date.

“We still have a couple permits yet to be issued and are expecting those to occur in the next month. We have bid the project out and are about 95% completed with that phase. We have a financing term sheet that is acceptable and we are engaging the process to get that closed,” the company stated Wednesday.

“Things you will also see over the next couple weeks is the fencing off of the future resort’s entire property, both beach side as well as bay side. The fence will have a screen applied to it with Margaritaville designed and approved graphics,” the company said.

The development will be built on both sides of Estero Boulevard, just east of Times Square.

In addition, TPI said the Canal Street beach access will change.

“The Canal Street beach access will remain throughout the project but it will move around as needed. Initially it will be located just south of where it is currently,” the unsigned post stated.

In 2019, The Town of Fort Myers Beach Council voted to vacate 12 feet of the town’s right-of-way adjacent to the Pierview Hotel to allow for work on the Margaritaville project. As part of the right-of-way access, TPI will be responsible for removing all driveways and street connections at the intersection of Canal Street and Estero Boulevard.

Chris Patton, who sued the town over its approvals for Margaritaville and the deviations allowed, opposed the move by the town at the time. She said residents of Primo Drive use Canal Street to get to the beach.

The lawsuits brought by Patton in opposition to the project were eventually dropped.

Businesses have begun closing, including The Mermaid, located on beach side of Estero Boulevard, which shuttered this past weekend. The Cigar Hut announced it will close its Estero Boulevard store May 9. The cigar store will continue operating at Old San Carlos Boulevard.