$500K loan approved for Lee County low-income apartments

The Lee County Commission on Tuesday committed to providing a $500,000 loan for the construction of an affordable housing community in North Fort Myers.

The loan would be for five years at zero interest and go toward the construction of a 78-unit multifamily development at 4941 Bayshore Road. The funds would come from the county’s Affordable Housing Trust Fund

The total cost of the project is estimated at $26.8 million and construction is scheduled to begin in fall 2025.