ReVital Development Group
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ReVital Development Group is excited to share that Civitas of Cape Coral has officially stabilized! 🎉
Civitas delivers 96 units of desperately needed affordable and workforce housing, including 1-, 2-, and 3-bedroom apartments reserved for households earning 30%, 60%, and 80% of Area Median Income ("AMI"). As Cape Coral’s first affordable family housing community in more than 20 years, Civitas represents a major step forward in addressing the city’s housing needs.
Civitas closed just months after Hurricane Ian devastated the region. Combined with rising construction costs, a volatile lending environment, and significant funding gaps, this project required creativity, persistence, and coordinated solutions. Thanks to a broad coalition, including Birdsong Housing Partners, Lee County Housing Authority, Florida Housing Finance Corporation, Lee County, the City of Cape Coral, Raymond James, Fifth Third Bank, Citi Community Capital, and many others, this vision was able to move from concept to reality.
Today, Civitas stands as proof of what can be achieved when community, collaboration, and commitment align. We are proud of this milestone and grateful to our partners, local leaders, and supporters who made it possible. Stabilization is not the end of the journey, but a reminder of the impact we can have when we come together to build opportunities for families and strengthen our communities.
03/12/2025
ReVital Development Group has closed financing for the construction of Sweetwater Apartments II, an affordable housing community, in partnership with Birdsong Housing Partners and The Greater Lake City Community Development Corp., a 501(c)3, CDC and CHDO. The Sweetwater Apartments will be a multiphase development, with this initial phase creating 48 new affordable homes for families in Lake City, Columbia County, Florida earning up to 60% of the Area Median Income. In addition to private debt, Sweetwater II was awarded 9% low-income housing tax credits from Florida Housing Finance Corporation, along with $1.375 million of funding provided by the National Housing Trust Fund. We’re grateful for all of the partners who participated in contributing to this development, including the City of Lake City, Columbia County, Florida Housing Coalition and PNC Bank, our tax credit investor providing $13.5 million in tax credit equity. We look forward to another successful development design by PDS Architecture and Boral Engineering, Marmer Construction, Inc.-CGC1516900 as the general contractor, and our green building consultant Community Development Reimagined
Stay tuned for additional updates as we progress through construction and celebrate this milestone in an upcoming groundbreaking ceremony!
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3750 Gunn Highway, Suite 104
Tampa, FL
33618
