Barron Collier enters lease agreement for downtown Bonita Springs development

Author: SAMANTHA ROESLER, GULFSHORE BUSINESS
Published:

Bonita Springs City Council unanimously approved a lease agreement with Barron Collier Companies for the 5.3-acre property off Old 41 Road on both sides of the Imperial River for a future development known as Imperial Crossing.  

Discussing the agreement terms with Barron Collier has been in the works since July 2021, with the final vote held on Wednesday morning.  

A few changes were made to the lease since the first hearing last month. Originally, the lease had Barron Collier looking every 10 years at the previous decade and adjusting its rent to the city based on the 2% average revenue. The current terms now have the developer paying a compounded 2.5% annual increase in rent. This rate protects the city by exceeding historical inflation rates. 

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