Hermosa North Fort Myers - Phase II

Location:                     North Fort Myers, Lee County, Florida

Demographic:            Elderly (62+)

No. Units:                   88

Financial Partners:   Florida Housing Finance Corporation, Lee County, Bank of America, 

                                     Citi Community Capital

Non-Profit Partner:   Lee County Housing Authority

Completion:               Early 2026 (estimated)

Website:                     Coming Soon!

Hermosa North Fort Myers, Phase II, is a 88-unit affordable multifamily community situated on 4.00 acres, located in North Fort Myers, Lee County, Florida, consisting of one 4-story residential building utilizing concrete construction along with other features that will meet NGBS Green Building certification standards. All 88 units will be set aside for residents earning 60% or less of the area median income (“AMI”), with 3 units set aside for households earning up to 22% AMI and 9 for tenants earning 40% AMI or below, 76 units for tenants earning 60% AMI or below, and preference for Veterans on occupancy and waitlists.  Phase II is the second of a multi-phase development totaling 160 units.

The community’s unit mix is comprised of (56) one-bedroom and (32) two-bedroom units. Residents of the community will enjoy amenities including a large clubhouse featuring a fitness center, business center, and a swimming pool. Free resident programs offered at Hermosa will include an Adult Literacy Program and Resident Assurance Check-In Program.

Hermosa, the Spanish term for ‘beautiful,’ will be the first new affordable housing community located within unincorporated Lee County in nearly 15 years, and is a result of a public-private partnership between the Lee County Housing Authority, ReVital Development Group, and Birdsong Housing Partners.

Hermosa II's development cost is $29.5 million.  The financing consists of Multi-Family Mortgage Revenue Bonds, SAIL, SAIL-ELI and NHTF provided by Florida Housing Finance Corporation, Community Development Block Grant Disaster Recovery Funds (CDBG-DR) awarded by Lee County, 4% Low-Income Housing Tax Credits and Construction Debt by Bank of America with Citi Community Capital providing the permanent debt.