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May 13, 2024

8:00 AM

Brisas del Sur Phase II Under Construction

Rosewood Pointe Apts 5-3-24 03 TB_edited.jpg

The proposed Brisas del Sur Phase Two will be a multifamily, rental housing community consisting of 96 total units in four (4), 3-story walk-up apartment buildings located at 1550 Ortiz Ave, Ft Myers, FL. 48 units are one-bedroom/one-bath, 24 units are two-bedroom/two-bath, and 24 are three-bedroom/two-bath.

The development is the second of two phases, located on approximately 7.07 acres fronting Ortiz Ave (Phase One is on 6.6 acres in the back of the site). A 1-story clubhouse will be shared between the phases and include a leasing office, various meeting rooms for residents and a pool. Resident programs will be provided at no cost to residents, including literacy training, employment assistance, and financial management.

The community will lease 100% of the units to families making incomes of 60% of Area Median Income (AMI) or less on average, with the 15% of the units will be for families making 30% of AMI.

The development will serve low to very low income senior families in the area, with 100% of the units considered certified affordable housing and set-aside for tenants earning incomes of 60% of that Area Median Income (AMI) on average. 5 units are set aside for tenants earning 22% of AMI and another 21 units for tenants earning 30% of AMI.

Construction has commenced, and the project is expected to be completed and fully leased by the 3rd quarter of 2024.

The project will be funded by 4% Housing Credits, Multifamily Mortgage Revenue Bonds (MMRB), National Housing Trust Fund (NHTF), State Apartment Incentive Loan (SAIL), Extremely Low Income (ELI) Gap Loan, and HOME Investment Partnership Program.

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