The Dynamic Growth Taking Place In Naples, FL: A Transformation in Progress
It is amazing to think about all the new construction taking place in our small ‘Fishing Village.’
If you are in Naples you can see what is taking place, but have you considered the combined value and resources all these projects have? If you have not been to Naples in a year, you will be surprised and for those who have not been to Naples in a couple years, you will be REALLY surprised. The development projects within Naples (34102) not only reflect significant investment but also exemplify a commitment to luxury, culture, and modern living.
In the 34102 zip code, the last major hotel/residential/resort project was Naples Bay Resort completed 16 years ago in 2008. In the past several years, we had some new development with Naples Square, Hyatt Place, AC Hotel, but never before from my understanding has some much development taken place within this small area all at the same time.
Here are some of the major developments that have been completed, are in process, or approved and will start in 2025. Note all these projects are within a three mile radius and estimate a total close to $3 Billion in investments.
Gulfshore Playhouse
Completed in October, with a $72 million investment, Gulfshore Playhouse is truly adding to the city’s cultural renaissance. It is a beautiful state-of-the-art theater that underscores Naples commitment to the arts. This project aims to bolster the local cultural scene by providing a venue for top-tier theatrical performances and community engagement.
The lineup for the coming months include Anything Goes, Dial “M” for Murder, The Lehman Trilogy, Noises Off, Lady Day and others; yoga classes are also offered.
Visit – GulfShore Playhouse: https://www.gulfshoreplayhouse.org/
Naples Beach Club, A Four Seasons Resort: Luxury Redefined
As we know, the Four Seasons brand is synonymous with opulence and world-class service, and its newest development slated to open in 2025 promises nothing less. Naples Beach Club is set to elevate the standards of luxury living and hospitality in the area. The introduction of the Four Seasons to Naples is a testament to the city’s growing appeal as a premier destination for discerning travelers and high-end property seekers.
The land was purchased in 2021 for $362.3 million and development of the property is estimated to be over $1billion with private residences priced over $50mm.
The hotel will comprise 216 hotel rooms and 58 private residences. While room rates have yet to be published, personally I anticipate them being over $1,500 per night as Four Seasons properties are traditionally higher than the Ritz.
Visit – Naples Beach Club: https://naplesbeachclub.com/
The Old Naples Hotel: 3rd Street
Nestled in the historic district on Third Street South, The Old Naples Hotel is poised to become a landmark that pays homage to the city’s rich heritage while embracing contemporary comforts as it looks back to the original 1889 Naples Hotel. This boutique hotel will reflect the charm and character of Old Naples, with thoughtfully designed spaces that blend modern luxury with nostalgic elements.
This project has taken many many years and since I moved to Naples 15 years ago has always been vacant as the old shopping area was closed back then.
While initially planned to be completed in early 2024 to coincide with the 135th anniversary of the original Naples hotel, construction began at the beginning of the year so the project has been delayed.
Not much information is available but in 2022 Ocean Properties Hotels & Resorts was identified as the managers of the property, the same company that oversees the Edgewater Beach hotel.
The Avenue – Between Tin City & 5th Ave
After many years, this project comprising four buildings was approved in October with construction anticipated to start in Q1 2025. The project will span two city blocks where St. George & The Dragon operated between Tin City and 5th Ave on 4.3 acres (thank goodness Restoration Hardware and Whole Foods have been removed from the equation).
The Avenue will be ‘typical’ to the new construction taking place on Fifth ave with retail shops on the first floor and condos on the second and third. 50 condominiums are planned ranging in price from $3 – $8million as of now (as we all know these are the pre-construction prices).
Fortunately, pedestrian walking areas and gardens have been factored into the equation!!
The Metropolitan: Urban Living Meets Coastal Charm
Representing modern urban sophistication, The Metropolitan is a development that combines luxury living with the convenience of city life. Right at the edge of the city limits, they were able to pull off the development of a 15 story building, two more buildings are planned at the triangle with the funding of the second building (Aura) secured recently, anticipate construction to start soon on building two and building one is just about complete.
Development cost is expected to be $400 million with condos ranging in price from $2 – $7 million and apartments renting from $2,500-$15,000 month.
Metropolitan Naples – https://metropolitannaples.com/
Rosewood Naples
Development of this amazing 42-unit property began recently and is slated to be completed in Q3 2026. For those familiar with the Rosewood brand, it is the epitome of luxury!!
This development is solely residential making it a much more cosier environment. $234 million in financing was secured in August, amounting to $5.57 million per unit. Prices range from $11-$45 million.
A changing dynamic with increased traffic!!
As Naples embraces these transformative developments, the city is poised for a future that balances growth while grappling with preserving its unique charm.
Naples is transforming and attracting a much higher end sophisticated clientele and this will only continue as these and other developments transform the city.
It is an exciting time for those like myself that provide home management services and live within this three mile radius, however it is becoming increasingly challenging to recruit good talent as many people can no longer live in the area and face significant commuting time.
Exciting times ahead!