The next chapter for Coconut Point’s former Regal movie theater is still being written.

Simon Property Group and Waypoint Residential want to replace the theater, which closed in November 2022, with apartments. But following an October 20 hearing, the proposal remains under review, with questions about its size, parking, and compatibility with the surrounding area.

What’s Changed Since the Original Proposal?

According to the Village of Estero, the revised proposal calls for 355 apartments in a four-story building, down from the original 365 units and five stories.

The theater would be demolished to make way for the development. The building would reach 44 feet, 6 inches to the parapet and feature Mediterranean architecture, including balconies, arches, covered walkways, and earth-tone finishes.

Plans also include courtyards and garage parking, with vehicle access from Via Umbria Way off Via Coconut Point. The developer is requesting a deviation to provide fewer parking spaces than normally required.

Why Hasn’t the Project Been Approved?

At the October 20 hearing, planning board members continued to question density, building height, green space, and the garage’s single entrance and exit.

Traffic was another point of discussion. Residents raised concerns about congestion, while the developer’s transportation consultant argued that the apartments would generate fewer peak-hour trips than the former movie theater.

The board unanimously granted a continuance, allowing more time for revisions before making a recommendation to Village Council.

A Different Future for the Former Theater

For people who remember movie nights at Coconut Point, replacing the cinema with housing would mark a lasting change in how this part of the shopping center is used.

Apartments could bring residents within walking distance of restaurants and stores. But the proposal also raises a broader question: how should Coconut Point balance housing with the shopping, dining, and entertainment experiences that draw people there?

The discussion now centers on whether this particular design achieves that balance.

What Happens Next?

The hearing is scheduled to continue on Tuesday, November 17, 2026, at 4:30 p.m. The project has not received final approval; Village Council ultimately decides whether it moves forward.

Residents can review meeting materials and recordings through the Village of Estero’s meeting portal. Check the upcoming agenda for meeting details and public-comment instructions.

We’ll continue following the proposal as it moves through review. For more development news, local openings, and things to do across Southwest Florida, subscribe to our newsletter!