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The Velasco Village Project was initiated in 1987 for the purpose of redeveloping an 84 acre site, formerly known as the "Bottoms", in the Dunbar Community. The project area was severely blighted with most homes in substandard condition. The purpose of the project is to provide approximately 200, new, affordable, single-family homes for low-income households. A total of 102 homes have been completed since the initiation of the project.
This project involves the redevelopment of an 84 acre site, located in the Eastern section of Fort Myers. Velasco Village is comprised of census tracts 2 and 5 which reflect low/moderate percentages of 69% and 70% respectively. In this respect, the project serves to meet the national objectives relative to benefiting low/moderate income households and the removal of slum and blight.
Acquisition, relocation, demolition, and site improvement activities, required to develop buildable sites, are preformed by the Community Redevelopment Agency. A CRA subrecipient, Dunbar Industrial Action Development, Inc., a non-profit corporation, coordinates all required construction of 200 single-family homes. The Velasco Village project, which is approximately 51% complete, has been responsible for the construction of 102 single-family, low income homes. Actual project expenditures to date include CDBG Grant and Section 108 Loan funds in excess of $4.9 million.
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