On Monday at 5 p.m., the Fort Myers Community Redevelopment Agency will discuss $6-million in tax incentives for the development of new luxury apartments in the downtown area.
The apartment, which would be named the “River District Apartments,” would be a five story building, across the street from the library. So far the complex would have 270 units as well as a six story parking garage.
The city is currently working with Barclay Group and BG Framework developers, who want to qualify for $6-million in tax incentives over the next 10 years.
Developers say the empty lot that is currently in that location is bringing down property values in the surrounding area, but this apartment building would generate more than $1.1-million in yearly tax revenues.
The city says the project would bring more than $62-million in private investments and more than a thousand jobs.
The meeting scheduled today will discuss whether this plan qualifies for the desired tax incentives. They will also discuss plans to lockdown funding for affordable housing in the downtown area as well.