DEVELOPMENT
The 7-acre King’s Landing site is located along the Indian River waterfront in downtown Fort Pierce. In the foreground is Moore’s Creek.
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work in.”
Audubon recently hired a national
research firm to determine exactly the type
of hotel that might work best in Fort Pierce.
“All the major hotel companies are looking
for sites like this — on the water with
expensive condos.”
“It won’t be like something out on the
interstate,” Matteson promised. “We’ve
talked with Marriott, but haven’t decided
on any particular ‘flag’ yet. There are so
many varieties of hotel these days. I believe
it’ll cater to business travelers, some
convention travel (the design is expected
to incorporate a banquet hall/meeting
space that is sorely lacking in the city).
“There’s been a lack of the hotel industry
here so it’s a challenge and an opportunity.
The correct mix of restaurants/retail/
residential nearby will all help the hotel
succeed. Add in downtown businesses
and vacation travelers, spring training
visitors and the mega-yacht business at
the port.
“The yacht business alone could fill beds
— not just owners, but support people —
there are 20-40 sub-contractors for each
yacht that docks here, plus crew accommodations
needed. The timing seems
right now.”
Matteson has been developing similar
projects throughout
the United
States for more
than 25 years.
“I’ve never seen
a project with such
advance interest,’’
he said. “We’ve had
to set up a reservation
system for
residential and retail
spaces and we
haven’t turned any
dirt yet. That’s very
unusual. Demand is
very robust.
“We’ve had reservations and deposits
placed on the penthouses, which start at
$1.2 million. We’re building to bring new
people into the city. We’re seeing a totally
new level of energy. And these are at prices
you’ve never seen in Fort Pierce. All the
penthouses are gone. Our Charleston
townhomes are close to $600,000, condos
in the $400s to high $700s. Apartments will
range from $1400 to $1900 a month rent.
“Every project I build, I have a place to
live in. I’m not just an out-of-town developer
making a buck out of Fort Pierce. (Living
here) gives you a different perspective,
a different level if you build it for yourself.”
GREGORY ENNS
King’s Landing seen from the
waters of the Indian River Lagoon
will add a dramatic new took to
the Fort Pierce skyline.
Matteson said he is “excited beyond
words to be selected as the master developer.
(Fort Pierce) is a diamond in the
rough. I believe we’ll be viewed as being
really smart to have done this. Fort Pierce
is certainly ready for a growth spurt. It’s
(a place) ready to take off. We’re ecstatic
about this opportunity. I just wish we were
moving dirt today!”
The final cost to build King’s Landing is
expected to be around $85 million, including
$15-20 million for the hotel. Fort Pierce
has never had such an economic shot in
the arm and many smaller business owners
are hoping to ride the wave of prosperity
King’s Landing will bring. v
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