A major multifamily development project is underway in Fort Myers, signaling continued growth in the area's residential sector. The Dallas-based developer Encore Multifamily has secured a $48.7 million HUD loan to construct a new apartment complex named Encore Daniels Falls. This 240-unit community, featuring a mix of studio to three-bedroom units, will occupy a prime location on Powers Court. Construction commenced in December 2024 and is expected to welcome residents by late next year. Since its inception in 2008, Encore Multifamily has been instrumental in over 49 projects valued at approximately $2 billion.

In another significant real estate transaction, an investor from Port Charlotte has acquired a prominent office building in Fort Myers for $5.15 million. Situated at 12751 S. Cleveland Avenue, this two-story structure houses several notable tenants including Wells Fargo, Dr. Schneider Center for Plastic Surgery, and Dragonfly Yoga and Pilates. All current occupants have signed long-term leases with built-in rent escalations. Previously owned by ForeFront Properties, the building was sold through representatives from CRE Consultants and Lee & Associates.

The opening of Civitas of Cape Coral marks a milestone in affordable housing initiatives within the region. Developed by Tampa-based ReVital Development Group in collaboration with the Lee County Housing Authority, this 96-unit complex offers a variety of one- to three-bedroom apartments designed specifically for families earning up to 80% of the area median income. Located on Pine Hill Road, Civitas also includes a spacious clubhouse and provides residents with access to employment assistance and financial management programs. This development aims to address the critical need for affordable family housing in Cape Coral.

These developments underscore the dynamic nature of Florida's real estate market, highlighting both the expansion of residential options and the revitalization of commercial spaces. Each project not only contributes to the economic vitality of its respective city but also enhances the quality of life for residents. Such investments reflect a commitment to fostering sustainable communities that support diverse populations and promote long-term prosperity.