CLEVELAND (August 2006) – Cameratta Properties L.P., a Cleveland diversified real estate company, is breathing new life into Southwest Florida by way of an approach successfully incorporated right here in Cleveland. That approach: Dream big until vision becomes reality.

Cameratta Properties, a Northeast Ohio owned and operated development team, has done just that with its major development projects in Fort Myers, Fla..

The vision to become leaders in the revitalization of Southwest Florida is fast approaching reality with Cameratta’s High Point Place and First Street Village projects. As the thrust behind a major redevelopment campaign in historic Fort Myers, Cameratta’s designs are capturing the attention of residents who desire an upscale lifestyle, and also those here in Northeast Ohio who are familiar with Cameratta’s quality and style.

Just five years ago, the skyline of Fort Myers left something to be desired. The historic downtown district was visibly lackluster and economically worn. Empty lots and abandoned commercial property dotted the landscape. Purchase of property here seemed anything but a lucrative investment.

But Joseph Cameratta and his team thought otherwise. They committed to the purchase of property in the downtown to begin development of the two upscale, lifestyle projects.

“We saw a unique opportunity for development in Fort Myers,” said Joseph Cameratta, chief executive officer of Cameratta Properties. “With its close proximity to the airport, Andres Duany’s Master Plan, the Boston Red Sox, the Edison Ford Estates, the Caloosahatchee River, and all of the offices already present downtown, we knew that we had come across an undiscovered jewel in historic Fort Myers.”

Following the lead of Thomas Edison and Henry Ford some 90 years earlier, Cameratta chose the West Side of downtown to build out his vision for this historic city. In conjunction with the goals of the City of Fort Myers staff and Andres Duany, Cameratta did what he has done in Cleveland for 25 years, “Dream Big.”

Since starting as a developer over 25 years ago, Joseph Cameratta has consistently and successfully developed niche projects in unproven locations. In Cleveland, Cameratta developed and built luxurious communities that included golf courses, single family and multi-family homes, offices, restaurants, retail shops, hospitals and schools. Today, Cameratta’s unique and consistent ability to set a higher standard in development is getting national attention.

At High Point Place, Cameratta’s first Fort Myers development, Cameratta partnered with the largest private equity firm in the world, The Carlyle Group out of Washington, to build the tallest building in Southwest Florida. The 32-story luxurious high rise achieved record sales and national attention. The building is 100 percent sold out and construction is on schedule.

"Cameratta Properties has created the new signature address for Fort Myers with High Point Place," said Dr. Gerry Laboda, chairman of the Fort Myers Redevelopment Agency.

At First Street Village, Cameratta’s second Fort Myers development, Cameratta will bring a mix of office, retail and residential space unlike any other single community in Southwest Florida. To guarantee the success of the retail component of First Street Village, Cameratta partnered with Florida’s leading owner of grocery anchored shopping centers, Regency Centers, to bring in Publix Supermarket and the highly desired retail tenants that follow.

In a public/private partnership with the City of Fort Myers, Cameratta secured tax increment financing to help pay for the infrastructure costs surrounding the project and the loss of density due to the surface parking required by a major grocery store. To finish the incredible atmosphere outside, Cameratta worked with the same company that designed the Bellagio Water Fountains Show and the Mirage Volcano in Las Vegas, to design First Street Village’s Water Features. To complete the lifestyle inside of First Street Village, Cameratta worked with the company that designed Belle Fair, one of the most luxurious, full-service lifestyle and social offerings available in Westchester, N.Y.; The Devonshire in Boston; 5 At the Biltmore in New York City; and the Spa at Caesars in Las Vegas.

WINK-TV, a local Fort Myers’ television station, stated on October 17, 2005, that First Street Village is “arguably the most important and exciting development” in Fort Myers.

“We’ve taken our approach we have used here in Cleveland the past 25 years and taken it to Southwest Florida,” Cameratta stated.

Cameratta’s Roadmap

Cameratta Properties has offices in Cleveland and Fort Myers and the company continues to look at new opportunities for development in both Northeast Ohio and Southwest Florida.

To learn more about Cameratta Properties L.P., please visit http://www.camprop.com/ or call 440-838-1900.

About Cameratta Properties

Cameratta Properties is a full-service, diversified real estate company in the commercial and residential markets, headquartered in Cleveland, Ohio. With more than 27 years of experience, Cameratta has built and designed a variety of projects in a array of industries, including: residential developments, golf courses, retail plazas, shopping centers, hospitality, financial and educational facilities.

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