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CRA approves $8.2 million tax rebate for affordable apartment development

Posted at 10:22 PM, Mar 14, 2022

FORT MYERS, Fla. — The Fort Myers Community Redevelopment Agency (CRA) reportedly approved an $8.2 million tax increment rebate and development agreement for 2010 Hanson Street, Bloom apartments, located near the Cleveland Avenue area.

A tax increment rebate to not exceed the amount of $8.2 million by the CRA disbursed 85 percent of the increment revenue that will generate each year until the rebate award is fulfilled.

The new Fort Myers five-acre, multifamily development called "Bloom", will have 336 modern apartment rooms specially priced to accommodate everyday workers.

Monthly rents are said to be around $1,006 - $1,035.

“Bloom Fort Myers is exactly the kind of project CRA incentives are designed to attract, given the CRA Boards priority to have attainable housing developed in the City of Fort Myers. We are thrilled to welcome Bloom to Fort Myers.”
Executive Director, Fort Myers CRA, Michele Hylton-Terry

The 336 apartment layouts at Bloom are said to be one and two-bedrooms as well as studio layouts; a pool, gym, game room, playground, dog park, and a business center will be included in the apartment’s amenities.

Construction plans are said to begin in April of 2022 and aim to finish by December of 2024.

“Workforce Housing is vital to a growing community and Redburn Development Partners works tirelessly to improve our product and provide people with a great standard of living at a valuable price point. Housing must be approachable for all segments of the population. The middle is missing and often gets overlooked but is remarkably vital to the local economy.”
Thomas Rossi, company principal