This former abandoned mobile home park has been transformed into a 280-unit, market-rate apartment complex with 15,000 sq. ft. of commercial space along Cleveland Avenue. It is located at 4944 S. Cleveland Avenue. The commercial development includes Krispy Kreme, Jimmy John’s, AT&T, and the $5 million Suncoast Express Wash, Inc., luxury car wash. Grand Central was the first Cleveland Avenue project to use Nutrient Bank Stormwater Credits in lieu of building its own system. It was selected for a Fort Myers Community Redevelopment (CRA) tax rebate, to be issued with a rate of 95% for Years 1 and 2 and a rate of 77% for Years 3-12, not exceeding a total of $4,450,000. Grand Central’s developer Aileron Investment Management also agreed to sell the back portion of their land to the City of Fort Myers to construct much-needed parking lot for the Sam Fleishman Regional Sports Complex. The project created 453 total jobs, generated $16,783,794 of household earnings, added $31,207,234 of value to the regional economy, and increased regional demand by $59,628,854. (Wagner Consulting Group Economic Study). The complex opened in 2020.
Grand Central Project Timeline & Events
Luminary Hotel & Co. is home to the signature Silver King Ocean Brasserie, the Beacon Social Drinkery rooftop lounge, The Workshop culinary theater, an indoor and outdoor fitness facility, Ella Mae's Diner and retail space at street level, and a pool area on the fourth floor overlooking the Caloosahatchee River. The hotel also offers more than 8,000 square feet of function space and is connected to the neighboring Caloosa Sound Convention Center.
The $91 million Luminary Hotel & Co., an Autograph Marriott Collection hotel, was built by Mainsail Lodging & Development. It opened in September 2020. The 12-story hotel features 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 selected for a $2.6 million tax rebate/loan agreement. It has brought back convention capabilities to the Downtown core. The rehabilitation of the former Harborside Event Center, rechristened the Caloosa Sound Convention Center & Amphitheater, was also completed in September 2020. The adjoining restaurants and bars were opened in October and November 2020. An amphitheater in adjacent Centennial Park is slated to open in 2021. The Oxbow Bar & Grill and Oxbow Retail & Rentals opened in March 2021 in the renovated City Pier Building. The Luminary Hotel & Co. schedule of events may be found by clicking here.
The AC Hotel will be located at 2300 First Street on the southeast corner of First and Jackson streets, across from the Sidney & Berne Davis Art Center, in the Downtown redevelopment area. This eight-story, 77,000 sq. ft. hotel will add 132 rooms to the Downtown core area, thereby strengthening the area's convention capabilities by acting as overflow lodging complimenting the Luminary Hotel and adjacent Caloosa Sound Convention Center. Developer First Street Place LLC has entered into an agreement with Mainsail Lodging (Luminary Hotel & Co.) to manage the AC Hotel and to be a equity investor. The AC Hotel project was approved for a $5.57 million tax increment rebate, which will be paid back to the developers over the course of 10 years after the project is completed and is generating additional tax from its projected increase in tax value on the property. CRA Commissioners approved a 95% rebate based on the developer's commitment to benefit the community in the following ways:
A report by Gerald Hendry of Maxwell, Hendry, Simmons Real Estate Appraisers indicates that during the construction phase, this project will have an economic impact of $42.7 million and support or create 396 jobs. Additionally, it will have an economic impact of $44.3 million and support or create 350 jobs during its initial five years of operations. The proposed completion is Fall 2022.
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 HOS Management already own the building site. The project incorporates Hampton Inn’s prototype contemporary, confident design scheme that reflects modern, timeless décor. In 2020, initial site work and the ground breaking occurred. In 2021, the first floor concrete slab was poured, masonry walls were installed, the second floor slab was poured, and block work began in August, with third floor plank work installed later that month. At the same time, the trades began rough-in and framing on the first floor. Estimated completion date is early 2022.
Prima Luce on the Waterfront
Prima Luce on the Waterfront, a two-tower, 22-story condominium development with 176 residences, was initially approved for a $7.5 million tax increment rebate in July 2015. Located along the Caloosahatchee River at 2631 First Street in the eastern end of the Downtown redevelopment area, the construction schedule was delayed by several factors, including Hurricane Irma in 2017, and the global pandemic in 2020, and cost increases. The development agreement was amended in August 2020 to allow the developer to increase the units to 220 multifamily residences and to increase the increment rebate payment accordingly. In January 2021, the site was recleared. A few months later, old piles from previous buildings were removed to make way for Prima Luce's piles installation later in 2021. Construction completion is set for December 2023.
Prima Luce on the Waterfront Project Timeline & Events
Silver Hills at Fort Myers
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 $75.524 million 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. Silver Hills at Fort Myers is being built in two phases. In December 2019, the developer closed on the properties for development (2220 West First Street and 1901 Altamont Avenue). Site work began in April 2020. Phase I is set to open when the project receives power from Florida Power & Light, and the power lines are removed. The Silver Hills at Fort Myers project is being advertised to potential residents under the name, Triton Cay.
Silver Hills at Fort Myers Project Timeline & Events
Vantage Lofts Timeline & Events
West End at City WalkIn May 2018, the West End at 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, West End at 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 were added in response to the CRA Board of Commissioners, creating a more desirable Downtown residential complex. As of November 2020, the buildings on Phase I of the project were topped off and the temporary leasing office opened in early December for pre-leasing. West End at City Walk is located in the block to the west of the Downtown Publix on West First Street.
Dr. Martin Luther King, Jr. Boulevard
McCollum Hall Project Description
This is a restoration project of McCollum Hall, which is a historic building with a musical heritage deeply tied to the famed Chitlin’ Circuit of the 1930s through 1950s. Since its purchase in 2008, the CRA has engaged community groups to help clean debris from the structure, stabilized the back wall, and replaced the roof. In 2018, the developers McCollum Redevelopment Associates, LLC/ REVA Development Corporations, were selected to complete the final rehabilitation of McCollum Hall. In 2020, the Historic Preservation Commission (HPC) Certificate of Review process and application were approved. Later that year, permits were approved. In 2021, the CRA issued a Notice of Intent to the developer when construction did not begin schedule. The CRA approved an extension for the developer to commence construction by no later than December 15, 2021. Once opened, McCollum Hall will feature the Oak & Ivy Design concept, which will celebrate the hall's historic Art Deco style in its renaissance as an artisanal food hall, a multi-use event space, and a micro-arts and images gallery in a newly constructed annex building.
McCollum Hall Project Timeline & Events
Seaboard Waterside Apartments
Seaboard Waterside Apartments, a two-building, six-story, 420-rental apartment complex to be built at the corner of Michigan Avenue and Seaboard Street, was approved for a total CRA tax increment rebate of $11.48 million in July 2019. The project will be built in two phases. The development will have an attractive parking garage built in the center of the development between the two buildings. It will be the first project of its kind in the MLK redevelopment area. The Seaboard Apartments Phase I will receive a $7.145 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. Phase II will receive a $4.335 million rebate of the taxes generated by the project in yearly installments until the total amount is reached, or until 2044 as well. In January 2020, the development agreement with the CRA was signed. In June 2020, the Environmental Resource Permit (ERP) was granted. An amendment to the Development Agreement, extending the construction commence date 1 year to January 2023 due to construction industry delays caused by the global pandemic, was approved in August 2021. Phase I of the $82 million project is projected to open in 2024.
Seaboard Waterside Apartments Project Timeline & Events
St. Peter Claver Place Apartments
Phase I of St. Peter Claver Place Apartments to be developed by National Development of America and the Diocese of Venice was approved for a $4 million CRA tax increment rebate in September 2019. The 214-unit affordable-housing apartment complex will be built in two phases, with Phase I consisting of 136 two-, three- and four-bedroom apartments in two- and three-story buildings, along with a community building. Known as St. Peter Claver Place, it will be built at 3681 Michigan Avenue. The Diocese of Venice currently owns the 17.44-acre site. In December 2019, a grant application was sent to Florida Housing; the developer will learn the status of the application within 30 days. In January 2020, the development agreement with the CRA was signed. Phase 1 was originally planned to for 120 units, which was expanded to 136 units in August 2020. At that time, the CRA tax increment rebate was also increased to $4.5 million. In February 2021, the project received board approval from the Florida Housing board for funding and entered credit underwriting with them in the summer. Completion of Phase I is planned for December 2022, and completion of Phase II is planned for May 2024.
St. Peter Claver Place Apartments
Towles Garden Project Timeline & Events