The 'ecological environment' is correct, as technically speaking an environment is any type of surroundings - not just natural, or even physical, ones.
What is not correct, however, is 'well'. 'Well' is an adverb, but you have used it as an adjective. It should instead be '... a fairly good ecological environment' or '... a fairly well-off ecological environment'.
I think "ecological environment" sounds awful-- ecology is environment: for example, "the ecology of Yellowstone National Park is threatened." Of course they're not exactly the same but it's like saying, "the biological life" or something.
I think what is meant is that the new city is environmentally healthy. You could say, "XX has become a new, 'green' city."
Technically, ecology is the study of ecosystems, and environment is surroundings. The ecology of Central Park is the unique set of habitats and interrelationships between species in the park, but the park's environment is urban, namely New York City. But on a global scale, and popularly, ecology studies "the" environment.