London Bay Development bought the old Charley's Boathouse Grill. The developer said they still haven't decided how they will use the space.
However, residents in the area said they were told it was going to be a beach club during a meeting last month.
Residents said one idea for the property is to take boat trolleys from London Bay properties on the mainland and shuttle them through two small canals, on Bahia Via and Curlew, to get them to the old Charley's Boathouse Grill, which is connected to the canals.
Residents are concerned about bringing in such a big boat in already cramped canals.
Mike Miller lives on the Bahia Via canal. He said it would take away the quality of life for people wanting to live on the water.
"What we're looking at right now is London Bay is looking at running every 30 to 40 minutes down this canal," he said. "It's a very narrow canal, anywhere from 27 to 29 feet wide. People passing back and forth is just going to be a hindrance."
Nadine DeGenova lives on the canal on Curlew. She is also worried about the lack of space the canals have.
"Our concern mainly is that these canals aren't built for that," she said. "They're very narrow and very tight, and most of the homes on our canals have their own boats on boat lifts."
Miller and DeGenova said they are also concerned the canals won't be deep enough for a boat that size.
The new London Bay Development property is still under construction, and the developer is still working to figure out if the plan for the boat shuttles is feasible.
Miller says he's talked to London Bay Development property directly before, and he said they are pretty adamant that they want to bring the shuttle boats down the canals.
Miller said he suggests moving the boat shuttles to the canal near Fish Tail Marina, which is 130 feet wide. That way the boat trolley has more space, and visitors can pass by the local restaurants and stores on Fort Myers Beach while heading to the London Bay Development property.
London Bay Development said they'll continue talking to residents and businesses about the future of the location.