News Flash

Redevelopment - News

Posted on: May 24, 2019

Grand Central Update

Grand Central Apartment Construction Aerial View from the Southeast

The Grand Central Luxury Apartments project, a 282-unit market-rate apartment complex with an estimated value of $50 million, is the first project to use stormwater treatment credits from the Cleveland Avenue Nutrient Bank. The Nutrient Bank is an additional incentive offered to developers and businesses in the Cleveland Avenue redevelopment area, created when the CRA contributed $1.3 million to build additional water quality treatment in the Fort Myers Country Club, in exchange for the ability to offer offsite stormwater credits as an additional incentive to redevelopment in the Cleveland Avenue redevelopment area.

In addition to the apartment complex, Grand Central is where the new Krispy Kreme doughnut shop is located, along with AT&T, Jimmy John's sandwich shop, other retail, and Suncoast Express Wash Inc, a state-of-the-art car wash.

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