$63 Million Affordable Housing Project Breaks Ground in Naples as Workforce Housing Crisis Intensifies

A major new housing project is taking shape in Naples as local leaders race to address one of Collier County’s biggest challenges: the soaring cost of housing.

Developers have officially broken ground on Ekos Creekside, a $63 million affordable housing community that will bring 160 below-market apartments to Naples in an effort to support the region’s growing workforce.

The project, located at 6360 Collier Boulevard, is being developed by Miami-based McDowell Housing Partners and is expected to open by mid-2027.

When completed, it will become the first affordable housing development in Collier County built under Florida’s Live Local Act, a statewide initiative designed to accelerate housing construction for working families.

Ekos Creekside is targeted at households earning 30% to 80% of the area’s median income, a range that typically includes:

• teachers• hospitality workers• healthcare staff• retail employees• first responders

• service industry workers

Developers say the apartments will rent for more than 30% below market rates, making them accessible to families who currently struggle to find housing near where they work.

That’s a major issue in Collier County, where housing costs have surged in recent years as population growth and luxury development continue to push prices higher.

The seven-story community will feature:

• 160 apartment units
• 98 one-bedroom units
• 48 two-bedroom units
• 14 three-bedroom units

Apartment sizes will range from 767 to more than 1,200 square feet.

Residents will also have access to a number of amenities typically found in market-rate developments, including:

• a resort-style pool• outdoor grilling areas• a fitness center• a business center with computer workstations

• a community clubhouse and media room

The apartments themselves will include granite countertops, stainless-steel appliances, kitchen islands, walk-in closets and in-unit washers and dryers.

The project is being financed through a combination of public and private investment, including:

• Florida Housing Finance Corporation programs• tax-exempt housing bonds• construction financing from Fifth Third Bank

• equity raised through federal affordable housing tax credits

Collier County also played a key role by purchasing the land in 2024 for about $3.75 million and entering a long-term lease with the developer to ensure the housing remains affordable.

Local construction firm DeAngelis Diamond is serving as the general contractor for the project.

The development comes as Southwest Florida continues to wrestle with one of the state’s most severe housing affordability gaps.

Many workers who power the local economy — particularly those in hospitality, healthcare and retail — are increasingly forced to live far outside Collier County and commute long distances to their jobs.

Business groups have warned that the shortage of attainable housing is becoming a major economic issue, affecting employers’ ability to recruit and retain staff.

Some estimates suggest that a significant portion of the workforce now spends more than half of their income on housing, far above the recommended affordability threshold.

For developers and local officials, Ekos Creekside represents more than just another apartment complex.

It’s part of a growing push to create housing options for the people who keep Naples running every day.

From restaurant workers and nurses to teachers and hotel staff, the project is aimed squarely at the workforce that supports Southwest Florida’s tourism-driven economy.

Developers say projects like Ekos Creekside are essential if the region hopes to keep pace with population growth without pushing workers farther out of the community.

Construction on the project is now underway, with developers targeting completion in the second quarter of 2027.

If that timeline holds, the new apartments could begin welcoming residents within the next two years — offering hundreds of workers a rare opportunity to live closer to their jobs in one of Florida’s most expensive housing markets.

For Naples, where the cost of living continues to climb, the project may mark the beginning of a broader shift toward workforce housing solutions that local leaders say are long overdue.

This story includes reporting from Business Observer and project information released by the developer.