Montage at Midtown Approved for $11.5MM TIF

June 24, 2021 - Fort Myers, FL - The Fort Myers Community Redevelopment Agency advanced its efforts to spark the redevelopment of the Midtown area this week. On Wednesday morning, the CRA approved an $11.5 million tax increment rebate request from Catalyst Asset Management for Montage at Midtown, a 321-unit Class A apartment community.

The property, which has been vacant for over 20 years, will be developed as a four-story apartment building with a five-story amenity building and a six-story, 585-space parking garage that will provide parking for the project's future second phase as well. The project will be the first new development project in the Midtown area, and is expected to be a catalyst for additional development and investment in the submarket.

Montage at Midtown is being developed by Tampa-based Catalyst Asset Management, in partnership with Kase Development. This project comes as Catalyst nears completion of West End at City Walk, a 318-unit Class A community in Downtown Fort Myers that is currently leasing up, and will be the development teams sixth large multifamily project in the Southwest Florida market.