For years, the Regal Cinema at Coconut Point Mall was more than just a movie theater. It was a familiar gathering place – somewhere to catch a blockbuster, meet friends, or spend a low‑key evening without leaving Estero. Since its permanent closure in late 2022, the large vacant building has stood as a reminder of how quickly retail and entertainment landscapes can change.

Now, the property owner, Simon Property Group, is proposing a redevelopment that would dramatically alter how that space is used.

A Proposed Apartment Development at Coconut Point Mall

Simon Property Group, one of the largest commercial real estate owners in the country and the owner of Coconut Point Mall, has submitted plans to redevelop the former Regal Cinema site into a high-density residential project. The proposal calls for a multi-story apartment building with several hundred residential units, along with structured parking and related infrastructure.

The project is currently moving through the Village of Estero’s planning and zoning review process. As with other major developments in Estero, this review considers building height, density, traffic impacts, site compatibility, and long-term effects on the surrounding community. While approvals have not yet been finalized, the proposal represents a clear transition from entertainment use to residential development within the mall footprint.

Regal Cinema’s Role in Estero’s Community

Before its closure, Regal Cinema at Coconut Point served as one of Estero’s primary entertainment anchors. It helped draw evening and weekend visitors, supporting nearby restaurants and contributing to Coconut Point’s reputation as a lifestyle destination rather than a traditional shopping center.

The loss of the movie theater already marked a noticeable shift. Replacing it with apartments would make that change permanent, removing a shared entertainment space that served residents well beyond the immediate neighborhood.

Community Concerns About Apartments at Coconut Point

Public response to the proposal has been mixed, though concerns raised by Estero residents have largely remained measured and practical rather than emotional.

Some of the most common concerns include:

• Traffic and congestion in Estero: Coconut Point and surrounding roads already experience heavy traffic during peak hours and seasonal months. Adding several hundred apartment units could further impact congestion along U.S. 41 and nearby intersections.
• Loss of entertainment and community space: Many residents point out that the Regal Cinema was one of the few large entertainment venues in Estero, and its replacement reduces shared spaces available to the broader community.
• Changing character of Coconut Point Mall: There is concern that replacing entertainment anchors with housing may gradually shift Coconut Point away from its identity as a destination for shopping, dining, and leisure.

While some acknowledge the ongoing demand for housing in Estero and Southwest Florida, the question remains whether this specific site — and scale — is the right location for such dense residential use.

A Larger Trend in Mall Redevelopment

Across Florida and the country, mall owners are increasingly repurposing vacant anchor spaces. Movie theaters have been particularly vulnerable, making them common candidates for redevelopment into residential or mixed-use projects.

At Coconut Point Mall, however, the shift feels more impactful due to the center’s long-standing role as a regional destination. Replacing an entertainment anchor with apartments alters how people experience the property and how long they stay — especially during evenings and weekends.

What This Means for the Future of Coconut Point and Estero

Coconut Point has long been promoted as a lifestyle center for Estero residents and visitors alike. Entertainment options, including the Regal Cinema, helped define that role. Removing those elements without a comparable replacement raises questions about whether future development is prioritizing density over destination value.

Housing can successfully coexist with retail when thoughtfully planned. Still, when residential development replaces community-oriented amenities outright, the trade-offs become more difficult to overlook.

Looking Ahead: Filling the Entertainment Gap

One additional factor worth noting as this proposal moves forward is the Village of Estero’s Village Center Hub project. Recently breaking ground near Estero Community Park, the Village Center Hub is intended to help address the entertainment and community-space gap that has been growing in Estero -a gap widened by the loss of venues like the Regal Cinema.

The Village Center Hub, anchored by High 5 Entertainment, will feature indoor and outdoor pickleball courts, miniature golf, bowling, arcade and other family entertainment elements. A sports-bar-themed scratch kitchen will serve indoor and outdoor dining, and a huge digital wall in the outdoor social space will allow for large-scale sports broadcasts along with “movies-in-the-park.”

What Happens Next

The proposed apartment development at the former Regal Cinema site will continue through the Village of Estero’s public review process. Planning board meetings and public hearings provide opportunities for residents to stay informed and share feedback.

The outcome of this proposal will influence not only the future of the former Regal Cinema property, but also the long-term direction of Coconut Point Mall and commercial development in Estero.

As growth continues in Estero, decisions like this one will help shape what kind of community the area becomes, and what amenities are preserved, replaced, or lost along the way.

To stay up to date on this developing story and others across SWFL, subscribe to our newsletter!