Luxury apartment, hotel projects to watch in Collier, Lee
Luxury has clearly become the name of the game in the development of Collier and Lee County. Apparently, everywhere you look, luxury hotels, houses and apartments are springing up, and more are planned.
The elite have a lot more disposable income to play with after their taxes were cut at the end of the last decade, so why not come with that money to sunny Southwest Florida? Developers make their dreams come true.
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Here’s a sampling of the very many projects bringing the bling into 2022 and beyond:
South China Sea to Gulf of Mexico
A Hong Kong-based chain with an exclusive club of 29 luxury hotels from Tuscany to Hawaii is targeting southwest Florida for a rare lodging venture.
Announced in May, Collier County would join Lido Key and Miami Beach as the only three US-branded residential projects for Rosewood Hotel & Resorts selling homes. On Earth, he has five other similar beach projects in Thailand, Brazil, Mexico and the Bahamas that have homes for sale.
Ranking of the best places to live:
With sales expected to begin later this year for less than 50 gulf front units, Rosewood Residences Naples would emerge at 1601 Gulf Shore Blvd., where the Mansion House complex used to be adjacent to Lowdermilk Park. County records show the five acres purchased for $167 million last year.
Put the Ritz to Collier and Lee
The Ritz Carlton brand is at the center of at least a few luxury projects.
Its iconic 14-story Vanderbilt Beach resort is being expanded and renovated not far from its original price tag of $80 million nearly four decades ago. This should be finished by Christmas or so.
And Ritz has plans underway for extravagant residential activities on Estero Bay, north of the Hyatt Regency Point Resort and Spa. Aiming for a 2025 arrival, the Ritz-Carlton Residences and its 224 condos in a pair of 22-story buildings are planned for 500 acres for a coordinated venture with the London Bay Development Group. Prices start in the $2 million range.
Immovable:In the know: Collier homes are the most expensive in the eastern US, but are the crazy prices of the COVID era ending?
Investments:To wit: Seagate is helping to move development east; Safari Jane’s question leads to reminiscing
$1 billion in hotel deals, upgrades
Last year’s $362 million purchase of the 124-acre former Naples Beach Hotel was just the start of a transformation.
The new owners aren’t done spending money on the Four Seasons and the new resort where work began in late April. Based on a similar project in Fort Lauderdale, at least another $200 million won’t come as a surprise. Completion is scheduled for the end of 2024.
And it’s one of many hotel deals that have taken place over the past two months that will spur more business, including the $156 million for the Inn on Fifth and a $248 million deal. dollars with the Naples Grande Beach Resort.
More up to date:
Stretch Fifth Avenue South?
The busiest intersection in the city of Naples is slated for a booming AC Marriott and the nearly adjacent Gulfshore Playhouse.
The goal was to complete construction of both by the end of 2023 on Goodlette-Frank Road off Tamiami Trail. Some Naples leaders see the projects as important to better connect the upscale shopping stretch of Fifth Avenue South to and around the Design District.
“This neighborhood is going to get much richer and more cultural over the next five years,” said Elizabeth Kurtz, business developer at Kurtz Homes and president of the Naples Design District Association.
Besides:In the Know: ‘Upscale’ hotel planned for Naples’ most congested spot
And:Naples Design District continues to evolve
Naples Gate to Hotel, Development
The Tamiami Trail and Davis Boulevard area is set to open The Ellington, a 10-story, 126-room hotel topped with 24 chic condos, and the 15-story Aura in Metropolitan Naples, with its 56 luxury residences.
With an investment of $110 million, the former 1.98-acre’s goal for completion is late 2023, according to the developers.
And for the latter 5.3 acres, with units up to $6 million and up, the goal is to complete that first phase by 2024. Its outdoor pool and fitness center on the top floor overlook the Bay of Naples, downtown Naples and the Gulf. from Mexico.
More coverage:Namely: new Hilton brand in Naples, Fort Myers; changes coming to Lee County Riverside
And:Naples luxury projects move forward in area long targeted for revitalization
trendy urban Fort Myers; ‘The Irving’ now plans 98 ‘utterly unique’ units
The Fort Myers waterfront is undergoing change and one of the big, previously approved additions for downtown is “The Irving” – a luxury apartment building at the east end of Bay Street that is developing from of the initially planned investment.
“The project has evolved,” said Jane Brickley Disla, director of marketing for the Alzada company, just before Memorial Day weekend. “Plans for the project have gone from 60 to 98 units, from nine to 12 stories, and the budget from $25.5 million to $48 million.”
After:Developer gets tax break for luxury apartment complex in downtown Fort Myers
The city will provide $4 million in tax relief to Alzada, led by Rebecka MacFarlane Barney, daughter of Robert MacFarlane, who developed several properties in the area. The building will be designed to provide views of the river and the urban atmosphere of First Street. As part of “very unique” units, the developers have a “study of the sun” in mind, ensuring that the people of Irving get the best of Old Sol.
Based at the Naples Daily News, columnist Phil Fernandez ([email protected]) writes In the Know as part of the USA TODAY NETWORK, which supplemented this report. Support democracy and subscribe to a newspaper.