- June 16, 2025
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Affordable housing developer McDowell Housing Partners recently closed on properties in Lee and Pasco counties, where it plans to develop hundreds of apartments for those earning below the area median income.
The to-be-developed apartment communities — Ekos on Evans in Fort Myers and Ekos at Bayonet Point in Hudson — are expected to bring more than 200 affordable housing units to the market in the next year. (The word oikos in Greek, which is transliterated "ekos," means home.)
The projects mark the first affordable housing concepts in Lee and Pasco counties for Miami-based McDowell. Among its already completed affordable housing communities are Ekos Cadenza and Ekos on Santa Barbara in Naples as well as Ekos at Arbor Park in North Port.
At 3501 Evans Ave. in Fort Myers, Ekos on Evans will deliver 144 units in five garden-style residential buildings, according to a statement. The one to three-bedroom apartments will range from 600 to more than 1,100 square feet. They will be available to those making 30%, 60% and 70% AMI. Community amenities will include a clubhouse, computer room, fitness room, terrace, grills, swimming pool, playground/tot lot and dog park.
Project officials estimate the cost of developing Ekos on Evans will be $60.8 million. The purchase price for the newly acquired land in Fort Myers was not disclosed.
“We are incredibly excited to close on 9.3 acres of land to bring Ekos on Evans, our first project in Lee County,” McDowell President Chris Shear says in the statement. “We remain dedicated to addressing the housing crisis across the state by providing high-quality affordable apartments to families who have been increasingly priced out of the market.”
Construction is set to begin this summer, with completion projected for the fourth quarter of 2026. The general contractor for Ekos on Evans is Naples-based DeAngelis Diamond.
The development will be delivered under the guidelines of Florida Housing’s 4% Low Income Housing Tax Credit program, according to a statement, which says Ekos on Evans is also receiving $17 million through Lee County’s Community Development Block Grant-Disaster Recovery funding. Those funds are designated for areas impacted by Hurricane Ian.
McDowell also recently announced it is developing a three-phase affordable housing project in Pasco County. The first phase of Ekos at Bayonet Point will result in 114 affordable senior apartment homes, and when complete, the community will have more than 300 units. It will be located along the west side of Lakeshore Boulevard, near HCA Florida Bayonet Point Hospital.
Located at 7555 McDowell Way in Hudson, Ekos at Bayonet Point Phase I will consist of a four-story building with an elevator that includes one-bedroom, one-bath apartments from 650 to 700 square feet. The apartments, according to a statement, will be available for seniors with incomes at or below 60% AMI. A standalone clubhouse with a pool, dog park, fitness center, computer lab and arts and crafts area will be among the amenities at the community.
Project officials say the cost of the first phase of development will total around $37.3 million.
“We are thrilled to close the first phase of Ekos at Bayonet Point, our first affordable development in Pasco County, and the first phase of a three-phase master planned development that will include a mix of affordable senior and family apartments and loads of amenities in a prime location,” McDowell Chairman and CEO W. Patrick McDowell says in the statement.
Construction on phase one of Ekos at Bayonet Point is set to begin in June and be complete in the third quarter of 2026. Clearwater-based Park & Eleazer Construction is the general contractor for the project.
Ekos at Bayonet Point Phase I was financed with 9% housing tax credits issued by Florida Housing Finance Corp. and purchased by Truist Community Capital; National Housing Trust Funds; a Pasco County Community Development HOME loan; Truist Bank construction loan; and Freddie Mac permanent loan originated by Grandbridge Real Estate Capital, according to the statement.
When it is complete, Ekos at Bayonet Point will contain 360 affordable housing apartments. The second phase of Ekos at Bayonet Point is in final plan review and is expected to close in early 2026, according to McDowell. It will include an additional 120 affordable housing apartments for seniors. Currently in planning, the third phase of Ekos at Bayonet Point will bring 126 affordable housing units to families and people of all ages.
Founded in 2019 to develop affordable communities, McDowell Housing Partners reports it has secured funding for 22 new affordable housing projects that will bring more than 3,100 apartments to Florida and Texas.
