Silver Hills at Fort Myers, a two-building, four-to-five-story luxury apartment community to be built in the Downtown redevelopment area, was approved for a tax increment rebate of $12.96 million, at the CRA Board of Commissioners meeting on August 28.
Silver Hills at Fort Myers will be built at 2220 West First Street on a large 4.46-acre vacant parcel bounded on the south by West First Street, on the north by the Caloosahatchee River, and on the east by Altamont Avenue. The development will feature two buildings containing a total of 327 apartments. The units offered will be a mix of studio, one bedroom/one bath, two bedroom/two bath, and three bedroom/two bath units. A 580-space parking garage will be located mid-block between the two residential buildings.
The façade of Silver Hills at Fort Myers will pay homage to the historic buildings of Fort Myers’ walkable River District core. Instead of looming as two large concrete buildings, they will appear to be several smaller mid-rise residences rising above the riverfront with the parking structure cleverly concealed by the living spaces.
The Silver Hills at Fort Myers project will receive a $12.96 million rebate of the taxes generated by the project in yearly installments until the total amount is reached, or until 2044 when the redevelopment area sunsets. Edwards Companies and Silver Hills Development, Inc., will work in partnership as developers of Silver Hills at Fort Myers. The $75.524 million project is projected to open in 2021.