Estero Residents Split on Plan To Convert Former Regal Theater Into 365-Unit Apartment Building

Simon Property Group presented plans to turn the abandoned Regal theater at Coconut Point into a five-story building with 365 apartments. The meeting happened on Tuesday, Jan. 13, 2026, with the Village of Estero Planning, Zoning, and Design Board. Parking garages will support the residential development.

The theater shut down in 2022. Cineworld, the owner, filed for Chapter 11 bankruptcy that year. The vacant space has remained empty for three years at the center of Estero's shopping district.

"It's getting to be an eyesore," said Michelle Abner, who lives in Estero, according to Fox 4.

Betsy Vary raised concerns about adding more residential units to the area. "How does all that traffic come into play? What happens to the quaintness of our community?" Vary said.

Some residents want entertainment venues instead of apartments. Ian Voakes voiced his disapproval of the plan, saying, "Regal Theater needs to be demoed. I think the citizens of Estero and Southwest Florida would like to see an entertainment district," according to Gulf Coast News.

Abner pointed out that the area lacks nightlife options. "Like maybe a jazz club, or blues, there's nothing here, it pretty much dies at 9 o'clock," Abner said.

Vicki Angus lives in Bonita Springs. She offered a different perspective. "It depends on what kind of apartments they're putting in. There is a need for more affordable housing," Angus said.

Developers Simon and Waypoint Residential declined to comment before the meeting but stated, "This project reflects the continued evolution of the property and our commitment to invest in the center."

Abner said she remains undecided about the proposal until she can review the complete plan. "Just kind of neutral right now until I have more information," Abner said.

No vote occurred at Tuesday's meeting. The public had the chance to speak about the project.