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Redevelopment - News

Posted on: July 30, 2021

First Street Apartments Planned for Downtown Gateway

Redevelopment Works Fort Myers CRA Logo First Street Apartments Image and Title

First Street Apartments will make an inviting gateway into the Downtown core area! 

Located at the southwest corner of First and Fowler streets at 3466 First Street, this modern-design, 4-story multifamily apartment complex project features 274 units and 467 parking spaces. The apartment community will be built on the former location of the First United Methodist Church. 

Total project cost will be $73.4 million. It is estimated to add $51.7 million in value to Fort Myers' tax base.

The CRA recommended the project for a $11.025 million tax increment rebate. The developer will provide the following community benefits:

  • Minority Business Enterprise (MBE) General Contractor to solicit bids from subcontractors and vendors that are minority-, women- or veteran-owned businesses, and encourage them to award sub contacts totaling a minimum of 5% of the hard/soft cost budget to MBE/DBE/WBE/HUD businesses.
  • Non-for-Profit Community Organization Contribution Developer will contribute 3% of the annual TIF rebate to the SWFL Affordable Choice Foundation Inc. and 2% of the annual TIF rebate to Streets Alive of SWFL.
  • Out-of-the-Box The developer will install an entryway glass mosaic mural on the retaining wall corner of First Street and Fowler, and work with the local artist and public art committee to design an abstract mural that will be fabricated and installed using custom mosaic glass. The developer will also work with a local fabricator to restore the First United Methodist Church Bell. The restored Church Bell will be displayed within the project.

Construction will begin in the first quarter of 2022 and completion is planned for the second quarter of 2024.

Contact:
Fort Myers CRA
cra@cityftmyers.com
239-321-7100

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