Luxury Mixed-Use Naples Project Is Underway
Aprea has begun the demolition process on the site.
Aprea has begun demolition site work on a mixed-use development in Naples, Fla. The Avenue is planned to fill the parcel between 5th and 6th Avenues and 9th and 11th Streets at the entry to downtown Naples.
The Avenue will feature four boutique buildings with 50 residences and more than 75,000 square feet of retail space. The development will include pedestrian-friendly environs reminiscent of European streetscapes.
The project will fill the 4.3-acre site east of Four Corners between the historic Tin City and the Fifth Avenue shopping district. Until demolition began, the site featured an assortment of vacant lots and non-conforming, empty buildings, including the former home of a legendary Naples dining spot, St. George & The Dragon, which closed more than a dozen years ago.
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Residences in The Avenue will feature two to four bedrooms and will be priced from $3 million to $8 million. Amenities will include club rooms customized for coworking and socializing, concierge assistance with in-home package delivery, grocery and dry-cleaning services, beach service transportation and setup, housekeeping and home-watch coordination and exclusive beach house vehicles. Restaurants and high-end shops will fill the retail square footage, traversable via landscaped open-air walkways.
Demolition is being handled by Envirostruct. The company will use machinery designed to reduce the amount of noise and dust emissions resulting from the demolition. After deconstruction, materials will be sorted for recycling and appropriate disposal. The Dawn McKenna Group has been appointed exclusive sales and marketing team for The Avenue. Sales of the residences began in January. Demolition of the existing buildings on the site is expected to consume approximately 90 days.
Three months ago, Forman Capital provided $113.6 million toward development of a 15-story, 56-residence luxury condominium, Aura at Metropolitan, on the Naples, Fla. beachfront. The project is anticipated to completed in the fourth quarter of next year. Sales prices range from $2 million to more than $7 million.
