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Local leaders, residents, and stakeholders joined together to create the plan to revitalize an important and historic neighborhood in Fort Myers. There were 20 applicants nationwide and only five were awarded the U.S. Housing and Urban Development grant for Choice Neighborhood Implementation Grant. 199 replacement units, 70 market-rate units, and 196 moderate-income units for a total of 465 new and well-designed, energy-efficient, sustainable and accessible housing units will be developed. The three phases of mixed-income, family housing will also include one phase of senior housing to ensure residents may age in place.
Building community is an opportunity to stretch our imagination. Tomorrow's needs can sometimes leave behind the things that will not serve us in the future. You can dismantle disparities by discovering the possibilities as a collective. There are new ways to do business to meet the needs of the community. We need to pivot and create higher aspirations. Catalyzing development opportunities and improving the value created for our neighborhoods is what builds a strong community. We want to see upward mobility for existing residents as well as invite new residents to succeed in our area. For area businesses, this means access to capital and credit to create economic balance. We can do better and will do better.
Part of the process is to assess capacity and be systematic, transparent, and equitable. We know that Fort Myers is accessible and affordable, and we can scale up to meet our local business needs. Solutions are not only local. Proven technology in our area cross international and global markets. Now is a great time to appeal to a diverse population and economic market and do so in Fort Myers.
We continue to consider how to grow wealth and increase equity as part of building our community. We've increased amenities which results in improved housing values. This is important so people have access to funds to recover during economic downturns. We recognize the value of the small business community and what they mean to a neighborhood. Building a community where opportunities to grow and expand right here, is important and we will continue to work with the public, area businesses, and future entrepreneurs.