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MLK Royal Palm Gardens Apartments Approved for CRA Rebate

FORT MYERS, Fla. (October 31, 2019) – Royal Palm Gardens Apartments to be developed by Royal Palm Gardens LLP/Redwood Housing, a renovation of the already established 80-unit unit affordable housing community, Jones Walker Palm Gardens Apartments, was approved for a tax increment rebate of $800,000 at the Fort Myers Community Redevelopment Agency (CRA) Board of Commissioners meeting on October 23, 2019.

The Royal Palm Gardens Apartments will be a renovation of the Jones Walker Palm Gardens affordable housing community located at 2209 Blount Street in the MLK Redevelopment Area, which was originally constructed in 1970. The community consists of ten two-story garden style residential buildings containing 8 one-bedroom, 32 two-bedroom, and 40 three-bedroom units with a leasing office set on 3.71 acres of land.

The scope of the work for this project includes roof and window replacements, HVAC and accessibility upgrades, landscaping upgrades with new community garden and picnic areas, security system upgrades, upgraded leasing and maintenance offices, the addition of a community room, fitness center and computer lab, common area Wi-Fi, and renovation of residential units. Residential unit upgrades will include new flooring, counter tops and cabinets, energy efficient appliances, LED lighting, ceiling fans and fixtures throughout.

As a way to commemorate the original name of the apartments and the rich history behind it Royal Palm Gardens LLP. has chosen to name the community center the Jones Walker Community Center. Throughout the renovations, residents will temporarily be relocated as close to the site to minimize the disruption. Renovations will be done in phases of two-to-three buildings at a time and are expected to end by December 2020.

The goal for this project is to improve the quality and standard of living for the current tenant base, consisting of some of the most marginalized households in the area, and broader community. This project will not only consist of a full renovation of residential units, but it will include the addition of dedicated community space for the residents where enhanced social services support will be provided. Additionally, the project will also create a significant number of jobs during the renovation.

The Royal Palm Gardens Apartments will help in the revitalization of the neighborhood as the multi-family residential low-income housing property has suffered from years of neglect. This renovation is following in the footsteps of recent project in the area such as the neighboring Royal Palm Exceptional School Center and Dunbar Jupiter Hammond Public Library.

The Royal Palm Gardens Apartment will receive an $800,000 rebate of the taxes generated by the project in yearly installments at a rate of 95% for 15 years.

About Community Redevelopment Agencies
Community Redevelopment Agencies have proven historically to provide distressed communities with a better economy through improved infrastructure, job opportunities, and housing. Their mission is to make housing and urban areas safer for residents, to preserve and grow business, and to provide a sense of place for all who live there. CRAs have demonstrated that the use of Tax Increment Funding (TIF) dramatically improves the economic and social outcomes within their targeted areas. These outcomes benefit both cities and counties and, more importantly, the taxpayers.

About the Fort Myers Redevelopment Agency (CRA)
The Fort Myers Community Redevelopment Agency was created in 1984 by the City of Fort Myers, Florida, under Florida Statute Chapter 163, to formulate a plan and strategy for the revitalization of the downtown River District. The Fort Myers CRA has continued to grow, and redevelopment areas have been added throughout the city. Today, the Agency oversees 12 different redevelopment areas within the Fort Myers city limits. The Fort Myers CRA, along with the City’s Community Development Division, prepares plans for the revitalization of each area and coordinates the implementation of the plan’s recommendations. Tax Increment Funds (TIF) generated by each area, combined with other funding sources, are used to upgrade the public infrastructure and to stimulate redevelopment in the same area where it was generated. The Fort Myers City Council members, sitting as the Community Redevelopment Agency, oversee the Agency’s divisions and their operations. The Fort Myers CRA office is located at 1400 Jackson Street in the Downtown River District. Contact: 239-321-7100

About Royal Palm Gardens LLP/Redwood Housing
Royal Palm gardens LLP, a subdivision of Redwood Housing is an impact developer focused on raising the standard of living for low-and moderate-income Americans and making a positive impact on tenants, communities, and the environment via thoughtful engagement and integrated development. This mission is done by acquiring, rehabilitating, and preserving affordable senior and multi-family properties throughout the country.  Redwood Housing has locations in Austin and Seattle. Contact: 512-717-3930 or Info@redwoodhousing.com