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St. Peter Claver Place Apartments Approved for CRA Rebate

 

 

 

 

 

FORT MYERS, Fla. (October 1, 2019) – The first phase of St. Peter Claver Place Apartments to be developed by National Development of America and the Diocese of Venice, consisting of 120 apartments of a 214-unit affordable housing development to be built on Michigan Avenue in the MLK redevelopment area, was approved for a tax rebate of $4 million at the Fort Myers Community Redevelopment Agency (CRA) Board of Commissioners meeting on September 25, 2019.
The apartment complex will be built in two phases, with Phase I consisting of 120 two-, three- and four-bedroom apartments in two- and three-story buildings, along with a community building. Known as St. Peter Claver Place, it will be built at 3681 Michigan Avenue. The Diocese of Venice currently owns the 17.44-acre site.
The units will be rented to tenant families and individuals at below-market rents ranging from $310 to $899. The unit mix and rents will be approximately as follows:
Number of Units             Type                    Gross Rent         Utility Allowance            Net Rent
5 units                              2B/2B                 $498                   $(188)                              $310
45 units                            2B/2B                 $906                   $(188)                              $718
6 units                              3B/2B                 $575                   $(229)                              $346
54 units                            3B/2B                 $1,047               $(229)                              $818
1 units                              4B/2B                 $642                   $(269)                              $373
9 units                              4B/2B                 $1,168               $(269)                              $899
Financing is pending from Florida Housing Finance Corporation for SAIL funding and bond financing with tax credits, with potential funding sources of approximately $20,000,000 and costs of $24,000,000. The CRA’s tax increment financing will provide an additional $4,000,000 in project funding which is key to making this project work.
This apartment complex will serve low- and moderate-income residents of Fort Myers and help provide workforce housing as well as amenities for its residents. Through its subsidiary, Catholic Charities, Diocese of Venice, Inc., the Diocese will provide a variety of social services to the project residents including but not limited to adult education, clothing, after school care, financial assistance, and housing counseling.
The Diocese owns and operates the African Caribbean American Center (AFCAAM) facility that is currently located on the property, providing a variety of after school programs for local children as well as a teen-mentoring program. AFCAAM has been a fixture in this part of Fort Myers for many years and is a valuable asset to the community. The program was founded by Dominican Sisters Marie McBride and Elaine Robbins in 1988, partnered with several laypersons from the local community to begin apostolic activities in the Dunbar Area of Fort Myers. Financial support for their work came from the Office of Black Ministry at the Diocese of Venice, Inc., as well as from grants and support from local Catholic Churches.
The St. Peter Claver Place Apartments project will receive a $4 million rebate of the taxes generated by the project in yearly installments at a rate of 95% until the $4 million rebate is satisfied.

 

 

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 National Development of America
National Development of America is a real estate development company that opened its construction company in the early 1970’s.  National Development has been operating throughout the eastern United States for over 35 years with projects in Louisiana, Pennsylvania, New York and its home offices in Fort Myers, FL. National Development of America is located at 12629 New Brittany Blvd., Fort Myers, FL 33907. Contact: 239-275-8029
The Diocese of Venice
The Diocese of Venice was established in 1984 by St. John Paul II from parts of the Archdiocese of Miami, Diocese of Orlando, and the Diocese of St. Petersburg. Founding Bishop Emeritus John J. Nevins served until his retirement in 2007, Bishop Frank J. Dewane has taken over all duties as the second Bishop of the Diocese of Venice. The Diocese of Venice now includes the counties of Charlotte, Collier, DeSoto, Glades, Hardee, Hendry, Highlands, Lee, Manatee, and Sarasota consisting of 61 parishes and 16 schools. The Diocese of Venice provides social services such as adult education, benefits application, clothing, after school care financial assistance, housing counseling, and senior services. Diocese of Venice is located at 1000 Pinebrook Rd, Venice, FL 34285. Contact: 942-484-9543

 

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Rendering Attached:
Saint_Peter_Claver_Place_Apartments_Rendering.jpg
St. Peter Claver Place Apartments Rendering
Credit: National Development of America/Diocese of Venice
Contact:
Natalie S. Dunham
Marketing & Promotions Manager
ndunham@cityftmyers.com
239-321-7100

 

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