Vantage Lofts, a luxury rental apartment complex to be built in the Downtown redevelopment area, was approved for an increment rebate of $11.4 million, at the Fort Myers Community Redevelopment Agency (CRA) Board of Commissioners meeting on June 26.
Vantage Lofts will be built west of the Caloosahatchee Bridge on Carson Street, located between First and Second Street. The sixteen-story development will offer 221 luxury loft style apartments with 5,000 square feet of retail space including a 5-story parking garage. Located on the roof will be a VIP lounge with a game room, a fitness and yoga center as well as a pool. Other amenities will include workspaces, a pet spa, an outdoor community and dog park, and more.
This project will provide needed housing and retail space, thereby contributing directly to the revitalization of the Fort Myers River District. It will bring young professionals to the Fort Myers area and promote new business growth once completed.
The Vantage Lofts will receive a $11.4 million tax increment rebate, of the increment value generated by the project until the $11.4 million is satisfied or until 2044 when the Downtown redevelopment area sunsets. The $63 million project is estimated to be completed by year 2021.