Bloom to bring affordable housing to essential workers

FORT MYERS, Fla. - Rezul -- A new, affordable housing community is coming to Fort Myers, marking a significant step forward in addressing the region's pressing need for attainable housing.

Located at 2010 Hanson St. in Fort Myers, Bloom is being developed by Renaissance Development Group, in collaboration with Lee County and the City of Fort Myers.

The 336-unit community will offer high-quality, affordable rental options for essential workers such as first responders, teachers, health care workers, and city and county employees. Located a mile south of downtown Fort Myers along the US-41 corridor, Bloom is being constructed on the site of the former Araba Shrine Hall, and the existing buildings will be fully razed, and the 5.7-acre property will be dedicated to the new community.

The mix of apartments will include moderately priced studio, one-bedroom and two-bedroom units with property amenities including a pool, fitness center, game room, playground, dog park, a business center and co-working space as well as a 506-space parking garage to complement the community.

More on Rezul News

• Networking For A Cause - NYC Professionals come together to network for a cause
• "Navigating Florida's New Condo Laws: What Central Florida Owners & Buyers Need to Know"
• $18 Price Target Issued in New Research Report After $34 Million Revenue Forecast from Acquisition; $101.5 Million Net Revenue in 2025; NAS DAQ: IQST
• West Dentistry Welcomes New Oral Surgeon to Enhance Patient Care
• Walnut Hills Launches Off-Grid Hempcrete Homes and Eco-Retreat in Western NC

"We named this property Bloom because this is where working professionals like first responders, teachers and health care workers can live affordably, contribute to the local economy and enjoy living the Southwest Florida lifestyle," said Tom Rossi, Renaissance Development Group principal. "It's about creating more than just housing – it's about building opportunity and community."

Within the complex, 51% of the units will be for people who earn less than 80% of the area median income for Lee County. The remaining 49% of the units will be for individuals who earn 80% to 120% of the area median income for Lee County. When compared to monthly rent in regional luxury apartments and homes, workforce housing rates are substantially lower.

Bloom development is made possible through an innovative financing structure, which includes a $20 million Community Development Block Grant Disaster Recovery (CDBG-DR) grant from Lee County, a $34.8 million construction loan from Stearns Bank, a $23 million ground lease from Montgomery Street Capital, and a Tax Increment Financing (TIF) agreement with the Fort Myers Community Redevelopment Agency (CRA). Bloom has been approved for an $8.2 million CRA increment rebate.

The project is anticipated to be completed by mid-year in 2027. To learn more about Bloom, visit FortMyersCRA.com/Projects/The-Bloom.