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Redevelopment - News

Posted on: December 16, 2019

McCollum Hall Update: Financing Secured, Performance Schedule & Consent to Lease Approved

McCollum Hall Aerial view in 2019

In addition, a new Performance Schedule and a Consent to Lease was approved at the CRA Board of Commissioners meeting on December 11, 2019. The project is on schedule for a December 2020 Grand Opening.

McCollum Redevelopment Associates, LLC, through its partner Reva Development Corporation, has secured a $1.8 million funding commitment to complete the restoration of McCollum Hall. The Developer will close on this financing by December 31, 2019.


A summary of the Performance Schedule approved on December 11 by the Fort Myers Community Redevelopment Agency (CRA) Board of Commissioners is below:


November 15, 2019       Financing Commitment for Construction


December 15, 2019        Close on Financing


March 15, 2020              100% Construction Drawings to Landlord


April 25, 2020                 Plans and Specifications submitted to City of Fort Myers Building

Department


April 30, 2020                 Commence Construction


December 30, 2020       Substantial Completion of all improvement

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