Projects Underway
Downtown
Campo Felice II
As a way to improve the marketability and appeal of the Campo Felice I Independent Senior Living (see Completed Projects section of website), Campo Felice II is planned for the same campus at 2500 Edwards Drive. Campo Felice II represents a continuum of care through a 100-bed assisted living facility, 50-bed memory care facility, and 40,000 square feet of medical office space. The Campo Felice II assisted living and memory care facilities will create an estimated 95 well-paying, long-term new jobs, and the medical office facility will create 100+ additional jobs. Realizing the additional economic impact accorded by Campo Felice II, in January 2016, the CRA Board approved a Tax Increment Rebate of 70% for Years 1-5, with the rate decreasing to 30% in Years 6-10, in an amount not to exceed $3.5 million total.
City Walk
In May 2018, the City Walk mixed-use residential project was selected to receive $5.5 million in Tax Increment Finance rebate over a ten-year period once the project generates property tax. Originally, City Walk proposed to construct 302 residential units, a 128-key Marriott brand hotel, and 5,000 to 10,000 square feet of retail and commercial space. As part of an updated agreement passed in December 2019, the hotel portion of the project was severed from the agreement due to changes in the market; however, an additional 18 residential apartment units, 77 parking spaces, and energy efficiency enhancements have been added in response to the CRA Board of Commissioners a more desirable Downtown residential complex. As of January 2020, structural columns and footings for the first building are in. City Walk is located in the block to the west of the Downtown Publix on West First Street.
Gardner’s Park Neighborhood Improvements
Several neighborhood improvements in Gardner’s Park are underway. Six neighborhood signs have been completed, and three pet stations are in the process of being installed. These stations will help pet owners keep the neighborhood clean and attractive.
Hampton Inn
Hampton Inn by Hilton Fort Myers, a four-story, 118-room hotel to be built at 2017 McGregor Boulevard, has been approved for a $1.9 million rebate of the taxes generated by the project. The rebate will be issued in yearly installments at a rate of 95% for the first five years and at a rate of 75% for the remaining years until the total rebate amount is reached. Developers already own the building site. The project will incorporate Hampton Inn’s prototype contemporary, confident design scheme that reflects modern, timeless décor. In October 2019, the site work permit was issued, the the application for the building permit submitted, the general contractor was selected, and the agreement was executed. In November 2019, financing was closed. The $16 million project is projected to open in 2023.
Holiday Inn Hotel
Holiday Inn, a 6-story, 135-room full-service hotel to be built on the three original city land parcels at 1651 Royal Palm Avenue, 2465 Second Street, and 2466 First Street, located on the northeast corner of Royal Palm Avenue and Second Street, was approved for a tax increment rebate up to $3,300,000. The hotel will offer a restaurant/bar, meeting space, amenities, and a local art space open and featured during Art Walk event nights. It will include surface parking. It will add approximately 152 construction jobs and 59 full-time jobs to residents of the area once it is completed. Construction completion is expected in April 2020, with an estimated full project completion date of 2021.
Luminary Hotel
The $91 million Luminary Hotel & Co., an Autograph Marriott Collection hotel, is being built by Mainsail Lodging & Development with an expected completion in 2020. The 12-story hotel will feature 243 guest rooms, 210 parking spaces and ground level retail spaces. This project, located next to the Downtown River Basin between Edwards Drive and Bay Street, was awarded a $2.6 million tax rebate/loan agreement, which will bring back convention capabilities to the Downtown core. As of January 2020, hotel construction is well underway, with stucco and painting having been added to the eastern facade. The rehabilitation of the former Harborside Event Center, to be rechristened the Caloosa Sound Convention Center & Amphitheater, has also been underway for several months. Exterior scaffolding can be seen on the southern exterior wall, although work continues throughout. The Oxbow restaurant is awaiting a demolition permit; once received, time to completion will be six months. The hotel and convention center have an estimated completion date of August 2020.
One Allure
One Allure, a smaller, higher-end condominium high-rise project to be built on the East First Street waterfront, is targeted at several specialized buyers who want the boutique condominium experience. The project will be a 15-floor, 24-spacious unit tower. In September 2016, a 95% CRA tax increment rebate for 13 years or a maximum of $3,169,855; a recent amendment to the original agreement has extended the start date to June 2019. Pricing for the more exclusive One Allure will range from the high $500,000s to $2.7 million for one of the two penthouse suites.
Prima Luce
Prima Luce is a two-tower, 22-story residential real estate development slated to be built on the First Street waterfront between Cranford and Evans avenues. It will contribute 176 new residences to the Downtown redevelopment area. In 2015, it was approved for a annual tax increment rebate of 70% for 10 years or until $7,509,214 has been rebated. Amendments to the original agreement extending the starting date have been granted due to pre-sales being affected by unprecedented events such as Hurricane Irma, red tide, and blue-green algae blooms; the new completion date for the project is December 31, 2021. The developer has already begun construction in compliance with the original agreement.
River District Events
Encouraging and supporting the arts and cultural activities not only enhances the livability of a community, but it can also accelerate its revitalization. To this end, the CRA over 60 events throughout the year through the merchants group, River District Alliance, as well as supporting Art Fest, Holiday House, the Sidney and Berne Davis Art Center, and the Florida Repertory Company. The economic spin-off from activities like these has attracted dozens of new businesses to the River District since the Streetscape project was completed.
River District Map
Updated twice a year, the River District Map features restaurants, shopping, art galleries and cultural venues. River District businesses are listed free of charge, and the map is distributed at no cost to all who wants one.
Silver Hills Apartments
Silver Hills at Fort Myers, a two-building, four-to-five-story luxury apartment community to be built at 2220 West First Street, has been approved for a tax increment rebate of $12.96 million rebate of the taxes generated by the project in yearly installments until the total amount is reached, or until 2044 when the redevelopment area sunsets. To be built on a large 4.46-acre vacant parcel on West First Street along the Caloosahatchee River, the development will feature two buildings containing a total of 327 apartments. The units offered will be a mix of studio, one bedroom/one bath, two bedroom/two bath, and three bedroom/two bath units. A 580-space parking garage will be located mid-block between the two residential buildings. The façade of Silver Hills at Fort Myers will pay homage to the historic buildings of Fort Myers’ walkable River District core. Instead of looming as two large concrete buildings, they will appear to be several smaller mid-rise residences rising above the riverfront with the parking structure cleverly concealed by the living spaces. As of late December 2019, the developer closed on the properties for development (2220 West First Street and 1901 Altamont Avenue). The $75.524 million project is projected to open in 2021.
Vantage Lofts
Vantage Lofts, a luxury rental apartment complex, will be built west of the Caloosahatchee Bridge on Carson Street, located between First and Second Street. The sixteen-story development will offer 221 luxury loft style apartments with 5,000 square feet of retail space including a 5-story parking garage. Located on the roof will be a VIP lounge with a game room, a fitness and yoga center as well as a pool. Other amenities will include workspaces, a pet spa, an outdoor community and dog park, and more.
It was approved for a $11.4 million tax increment rebate, of the increment value generated by the project until the total amount is satisfied, or until 2044 when the Downtown redevelopment area sunsets. The $63 million project is estimated to be completed by year 2021.