CRA approves increment rebate to Alessio Development

FORT MYERS, Fla. (September 27, 2023) –The Fort Myers Community Redevelopment Agency (CRA) has awarded a tax increment rebate to Alessio Development FL, LLC in the not-to-exceed amount of $11,405,347.76 to develop 2501 Alessio Drive in Ft. Myers.

The proposed project is located in the Dr. Martin Luther King, Jr. Blvd. redevelopment area and consists of two parcels with commercial flex space. Tenants include Ace Pickleball, West Shore Home, Felder Group, Glendale Supply and Kava Kulture.

The project total cost is estimated $49,832,475.00

The CRA’s increment rebate program is a special funding tool available to local governments to help spur economic development for projects that provide a community benefit, and which demonstrate a financial gap.

“Our CRA tax increment rebates serve as a powerful incentive for private developers to invest in the revitalization of our community, unlocking the potential for transformative projects that contribute to economic growth and a vibrant urban environment,” said Michele Hylton Terry, executive director of the Fort Myers CRA. “ Through public-private partnerships, the Fort Myers CRA leverages resources to spur economic development and enhance our community’s quality of life.

More information can be found on the CRA’s tax increment rebates by visiting


Since 1984, the CRA has managed redevelopment trusts to revitalize blighted areas in the City of Fort Myers. This reinvestment can take the form of public infrastructure, residential and commercial grant programs, public arts, affordable housing development, safety initiatives and historic preservation.

If left under-resourced, parts of our city risk remaining overlooked, affecting community spirit, and slowing economic growth. This lack of redevelopment doesn’t just impact current residents—it also discourages potential new businesses and families from making our city their home.  Imagine a city where every neighborhood is a beacon of growth and community spirit—a place where residents enjoy sustainable, thriving spaces and businesses benefit from a vibrant economic environment. This is the future we’re creating. The Fort Myers Community Redevelopment Agency was created in 1984 by the City of Fort Myers, Florida, under Florida Statute Chapter 163. The Fort Myers City Council members, sitting as the Community Redevelopment Agency Board of Commissioners, oversee the Agency’s programs and policies. The Fort Myers CRA office is located at 1400 Jackson Street in the historical downtown River District.