Lee Board of County Commissioners voted Dec. 3 to execute agreements for three multifamily affordable housing development proposals funded by the U.S. Department of Housing and Urban Development’s Community Development Block Grant-Disaster Recovery allocation to Lee County.
The Bayshore Pines development in North Fort Myers received $17 million in funding. Total project cost is about $68.1 million for 180 multifamily units (180 units at 60% Area Median Income or less).
Hermosa North Fort Myers II received $5.25 million. Total project cost is about $28 million for 88 multifamily units designated as senior housing for those 62 years and older.
Ekos on Evans in city of Fort Myers received $17 million. Total project cost is about $53.8 million for 144 multifamily units (22 units at 30% AMI or less, 56 units at 60% AMI or less and 66 units at 70% AMI or less).
The funded projects will provide for the development of 412 affordable multifamily housing units.