News Flash

Redevelopment - News

Posted on: December 16, 2019

McCollum Hall Update: Financing Secured, Performance Schedule & Consent to Lease Approved

McCollum Hall Aerial view in 2019

In addition, a new Performance Schedule and a Consent to Lease was approved at the CRA Board of Commissioners meeting on December 11, 2019. The project is on schedule for a December 2020 Grand Opening.

McCollum Redevelopment Associates, LLC, through its partner Reva Development Corporation, has secured a $1.8 million funding commitment to complete the restoration of McCollum Hall. The Developer will close on this financing by December 31, 2019.

A summary of the Performance Schedule approved on December 11 by the Fort Myers Community Redevelopment Agency (CRA) Board of Commissioners is below:

November 15, 2019       Financing Commitment for Construction

December 15, 2019        Close on Financing

March 15, 2020              100% Construction Drawings to Landlord

April 25, 2020                 Plans and Specifications submitted to City of Fort Myers Building


April 30, 2020                 Commence Construction

December 30, 2020       Substantial Completion of all improvement

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