NORTH FORT MYERS, Fla. — A long-awaited affordable housing complex broke ground in North Fort Myers on Wednesday morning. It marks the first affordable development of its kind in the area in several years.
“It's been a little over 15 years in unincorporated Lee County to have a development such as this—and over 30 years here in North Fort Myers to have something—so it is groundbreaking,” said Michael Allan, president of Revital Development.
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The project, called Hermosa North Fort Myers, will bring 160 rental units to the area for seniors and veterans who earn 60% or less of the area’s median income, or just under $39,300.
Located off North Cleveland Avenue, the complex will offer rental prices ranging from $386 to $1,263, according to the developer's fact sheet.
“We then calculate the income and rent off of that. And then it’s 30% off of that amount so the households are not spending more than 30% or at least in theory of their household income,” Allan said. Residents will also get an allowance for water and electricity.
Allan said the project has been years in the making.
“It’s been a long time in the making. I mean, especially with this—I think we had the land under contract for about four years before we were able to line up all the financing. It’s very complicated, especially in this current market environment. But it is exciting. We had a lot of local support from Lee County, the commissioners, as well as at the state level through Florida Housing Finance Corporation,” he said.
The site plan includes amenities such as a fitness center, modern clubhouse, and swimming pool. The complex will also provide free literacy programs and housekeeping services for seniors.
While construction is just beginning, Allan said people will start moving in fairly soon.
“Probably in about 12 months from now is when we’ll be opening the first units, give or take. So, toward the end of this year, we’ll start the pre-leasing activities, depending on where construction stands,” he said.
