Aileron Capital announced it has completed development on Grand Central, a 280-unit class A apartment community in Fort Myers. The community features luxury appointments that are not found in the immediate area. Unique features of the property include an interior courtyard with a pool, a resident barbeque area and a double-gated dog park with running water. Grand Central is located on S. Cleveland Avenue and will open for occupancy within the next 30 days. Community managers are currently accepting deposits for rentals of 1-, 2- and 3-bedroom units.
Grand Central is part of a larger 18-acre mixed-use project that is also developed by Aileron Capital. The project is inclusive of over 10,000-square-feet of retail space and contains one of the fastest growing Krispy Kreme Doughnuts franchises in the United States. Aileron Capital worked closely with the city of Fort Myers and its Economic Development Corporation on the $50 Million project with an intent of spurring additional development interest in the area.
Aileron Capital is currently developing multiple other projects in the Southwest Florida area including Liberty Health Park, a 32-acre mixed-use project and Midtown, a 90-unit Class A apartment community. Aileron Capital past projects in the area include Channelside, a 28-acre site in Fort Myers, and Santa Barbra Retail Center, a 4,800-squar- foot retail center in Cape Coral. Additional announcements on the development of these properties will be released soon.
“The CRA is extremely proud to be partnered with Aileron Investment Management to give birth to the Grand Central Apartments Project. This option elevates the rental opportunities available in our Cleveland Avenue redevelopment area, located in the City of Fort Myers, and most important, it transformed a site that had out lived it’s productive use into a community that will enhance the Cleveland Avenue commercial corridor,” said Michele Hylton-Terry, Executive Director of the Fort Myers Community Redevelopment Agency.
“We are very excited to announce the opening of Grand Central,” said Bob Beard, Manager of Aileron Capital. “This has been a challenging project, but we are extremely happy with the finished product.”