Tapping the Red Maple

A Canadian border agent laughed when he saw Therese McKel-lar’s car filled with stylish golf outfits, Tommy Bahama shirts and shorts, children’s clothing and summer dresses she bought at stores on Naples’ Third Street South. The part-time Naples resident has been shopping and dining out more than usual when she’s in Florida.

McKellar’s spending spree was aided by the weak U.S. dollar, which is attracting more Canadian vacationers and property shoppers.

"They want to benefit from that market right now and all the opportunities," says Alain Forget, head of the regional division of Royal Bank of Canada, which has five branches in Naples, Bonita Springs and Fort Myers.

Canadians who already have been making the 24-hour drive or taking one of the direct daily flights here are reaping the benefits of Southwest Florida’s housing market slump. McKellar and her husband, Archie, who have an industrial electrical contracting company in Ottawa and a part-time home in TwinEagles, are building a home in another Bonita Bay Group community, Mediterra.

"When our dollar got stronger and some incentives from Bonita Bay [came available], Mediterra became a possibility," Theresa says.

The Canadian contingent is gaining the attention of builders, developers, real estate agents, bankers and hoteliers. Earlier this year, Bonita Bay Group hosted a party for Canadian residents and guests. Royal Canada Bank entered the market this spring, converting previous Community Bank of Naples branches that it acquired last year. Hotels such as Embassy Suites are joining county and state marketing initiatives to showcase Florida or the region to Canadians.

"[Canada] may have been the ninth-best place to find business. Now they’ve jumped up to the fourth or the second," says Dan Sullivan, director of sales at Embassy Suites Fort Myers-Estero, a 150-bed hostelry that celebrated its second anniversary in June.