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BONITA SPRINGS — Habitat for Humanity of Lee and Hendry Counties is taking over the development of a subdivision that was foreclosed during the real estate bust.
Lee County has contracted with Habitat to build homes on the 26-lot subdivision called Red Hibiscus in Bonita Springs. The Bonita Springs Area Housing Development Corporation developed the community and it was subsequently was foreclosed by lender Branch Banking and Trust.
“There is a significant need for affordable homeownership opportunities in Lee County for households with low income levels. The ability to preserve this land in the south part of the county for this purpose is significant,” says Ann Arnall, director of Lee County Human Services Department, in a statement.
Once built, the affordable housing will be sold to homebuyers with income at or below 80% of the area median income. Construction is scheduled to begin next year.
“Red Hibiscus will be a great place for low-income Bonita families to live, right across from the soccer field and close to everything,” says Kitty Green, president and CEO of Habitat, in a statement. “We are really grateful to Lee County and the city of Bonita Springs for helping to make this happen.”
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