FORT MYERS, Fla. — A new hotel is on the verge of being built in downtown Fort Myers as soon as 2026, after city leaders approved a multimillion-dollar rebate for developers.
The Community Redevelopment Agency (CRA) voted unanimously to accept a developer's request for a $14 million rebate to start building a new hotel called Tempo by Hilton.
Watch Fort Myers Community Correspondent Miyoshi Price explain what could hold up the project:
The rebate, known as Tax Increment Financing (TIF), is a public financing tool the city gives to private developers to promote economic development that would benefit the community.
"Bring more hotel rooms in — we could do larger conventions," said Kevin Anderson, CRA commissioner and Fort Myers mayor.
The proposed Tempo hotel could be 11 stories with 175 rooms on the corner of First Street and Jackson Street. During the CRA meeting, developers, investors, and their attorney said the project could break ground as early as February 2026.
However, there's a catch: developers say it's only a done deal if they can build all 11 stories.
CRA Commissioner Fred Burson was vocal during the meeting about the developers committing to their proposed construction timeline, especially after securing the $14 million rebate.
"It's for the betterment of everybody. But what I don't like is when we award these million dollar TIFs, and then they don't ever complete the project," said Burson.
Commissioners also expressed a major concern about proposed legislation, which would prevent local governments from giving TIF rebates for hotels.
"There's a good possibility that the legislature will kill what we've done today. They could make it retroactive, but more than likely they won't make it retroactive," said Burson.
Both Anderson and Burson say the project is needed, noting the land has been vacant for more than 20 years.
"It's a valuable corner, and we just need to get something done with it," said Burson.
CRA Commissioner Kevin Anderson says he supports this project, believing the hotel will bring more activity to this end of First Street.
"I will hope that the planning board will do the right thing, and that is, approve the 11 stories. If not, then it will come back before the council," said Anderson.
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