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"It'll bring in millions": Golden Gate workforce housing breaks ground in summer

The project has 2 phases, breaks ground in July, and will take 22 months to complete. Collier County could earn between $28 and $55 million in revenue from the new affordable units.
Posted at 7:37 PM, Apr 09, 2024

NAPLES, Fla — Construction of a public-private workforce housing project may soon begin in Golden Gate. The two-phased project, led by Rural Neighborhoods, had been delayed by several months but has recently received key approvals from the county.

Located just off Golden Gate Parkway, the project site is set to host nine new apartment buildings. The Renaissance Hall project promises 250 units and a clubhouse designed for working professionals such as teachers, nurses, and police officers.

It is one of only two workforce housing projects at this stage in the county and will be partially funded by taxpayers. Under the arrangement, the county leases the land to the developer, who will rent out the units at a reasonable price.

According to the developer, the county has already granted them leases for the land.

"Three key achievements were made in the board of county commissioners meeting, including the execution of leases for the project, an agreement on income sharing between philanthropic entities, the county, and Rural Neighborhoods, and an extension of the financing deadline until May 30th," said Steve Kirk, President of Rural Neighborhoods.

Financially, the project is anticipated to benefit the county in the long run. Kirk told Fox 4 that over a 40-year period, Collier County could earn between $28 and $55 million in revenue.

Kirk is optimistic about the project's timeline and said they are on track to break ground as early as July 1st.

A 2023 FGCU Lutgert College report found that 52,749 people commute to work every day from outside of Collier County. Almost 30%, or more than 15,800, of these commuters are coming from east coast counties, per the report.

Once approved, both phases of the project will take about 22 months to complete.