Laura Layden | Naples Daily News
By next year, swanky Fifth Avenue South could have its first rooftop restaurant.
Plans for a Prime Social on Naples’ unofficial “Main Street” are slowly advancing.
The project is winding its way through the city’s review and approval process.
Most recently, the Design Review Board got a second look at the conceptual plans, which continue to evolve.
The restaurant would be one of the largest on the avenue – at roughly 7,800 square feet. It would include outdoor dining, with sweeping views of the city.
Prime Social is a newer concept by Cameron Mitchell Restaurants. On the restaurants’ website, it’s described as a “lively and dynamic rooftop cocktail lounge designed for conversation,” where people can “gather to enjoy the moment.” The first one opened in Kansas City, Missouri in 2021.
The one in Naples will require a third story addition to a prominent commercial building at 837 Fifth Avenue S.
The building’s current tenants include Chops City Grill and Engel & Volkers Real Estate.
Read the full story including architectural design and concept.
Contact David to find your home in the best place to live – Naples, Florida. David@DavidFlorida.com or 239-285-1086.
March Housing Market Report Has a Silver Lining
Naples, Fla. (April 26, 2023) – Closed sales of homes in Naples during the first quarter of 2023 exceeded closed sales reported in the first quarter of 2019 (pre-COVID) when inventory levels were nearly three times the current level. According to the March 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), overall inventory in March increased 92.4 percent to 2,900 properties from 1,507 properties in March 2022. While still historically low at 3.6 months of inventory, overall inventory in Naples has continued to increase ever since it bottomed out at 0.8 months of inventory in December 2021.Broker analysts reviewing the report like Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., speculate that “even though buyers today are facing headwinds like high interest rates, rising property and flood insurance rates, and low inventory levels, these factors are not diminishing people’s desire to live in Naples.”
Cindy Carroll, SRA, of Carroll & Carroll Appraisers & Consultants, LLC, who advocates against comparing activity today to activity during the COVID-boom years (2020-2022), said she is “comforted by the fact that our area shows resilience to 2019. Homebuyers shouldn’t get too hung up on the months of inventory number reported because it fluctuates wildly depending on where you want to buy a home in Naples. For example, the Port Royal area has a 1.3 year supply today. The truth is we are heading back to 2019; a time when the housing market was stable, foundational, and logical. That is what should be happening, and it is.”
With this more accurate comparative method in mind, closed sales decreased 16.5 percent to 1,017 closed sales from 1,218 closed sales in March 2022; but compared to March 2019, closed sales increased 2.6 percent. Pending sales in March decreased 14.5 percent to 1,377 pending sales from 1,611 pending sales in March 2022; but compared to March 2019, pending sales increased 22 percent.
The NABOR® March 2023 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings for 2023:
The overall median closed price in March increased 7.3 percent to $615,000 from $573,000 in March 2022. This increase was driven by the condominium market, which had a 5.9 percent increase in its median closed price. Interestingly, the median closed price for single-family homes in March reported no increase compared to March 2022.
Iterated by top brokers who review the market report each month, it’s impossible to categorize the Naples area housing market as either a buyers or sellers market today. However, an experienced Naples REALTOR® understands the comparative market differences of each unique neighborhood.
Contact David to find your new home in Naples, Florida, at David@DavidFlorida.com or 239-285-1086.
Kendall Little | Naples Daily News
After several delays, golf and entertainment company BigShots Golf aims to open their newest location in Naples next year.
BigShots Naples will offer a 12-hole golf course, restaurant, and virtual golfing experience.
Collier County purchased the Golden Gate Golf Course in July 2019 for $29.1 million with the goal of saving green space and preventing overdevelopment in the area. It was a 165-acre property bought with $28 million of borrowed funds.
Back in 2021, the Collier County Board of County Commissioners gave BigShots approval to revamp part of the Golden Gate Golf Course property with a new entertainment facility and golf course.
Collier County Commissioner Burt Saunders said BigShots faced financial issues afterwards which caused the company to refinance the project. At Tuesday’s Collier County Commission meeting, commissioners voted to give BigShots a sixth and final extension to finish financing the project. In 60 days, BigShots representatives will provide the commissioners with an update on the project and evaluate if they are able to move forward.
Read more about how refinancing, bats, and structure coating delayed the project.
Contact David to find your new home close to great golf, restaurants, shopping, and beaches in Bonita Springs and Naples, Florida. Email or call David@DavidFlorida.com or 239-285-1086.
Laura Layden | Naples Daily News
The city has chosen a contractor to design the new Naples Pier.
At last week’s meeting, City Council unanimously agreed to award a contract for design services to Turrell, Hall &Associates in the amount of $1,478,400.
Chad Merritt, the city’s director of parks and recreation, described it as a “big milestone.”
The iconic pier took a beating from Hurricane Ian in September, forcing a rebuild.
According to its winning proposal, Turrell, Hall & Associates has lined up a team of experts for the job who’ve worked on more than six pier projects over the past five years, including modifications to the Naples Pier.
The local marine and environmental consulting business will work with seven other firms, as subcontractors, to get the work done in six months.
One of the primary reasons it won the contract: Its promise to retain the pier’s essence.
Read more about the Naples pier reconstruction.
Contact David to find your home in the Naples, Florida area. David@DavidFlorida.com or 239-285-1086.
Laura Layden | Naples Daily News
A lingering legal dispute isn’t holding up the rural village of Rivergrass.
The planned village is moving ahead in eastern Collier County.
While parts of a legal challenge brought by the Conservancy of Southwest Florida are still pending and headed for trial, construction is expected to start soon on the expansive master-planned community.
The community will be built on roughly 1,000 acres off Oil Well Road, east of Golden Gate Estates – on land once used for farming.
“We anticipate breaking ground on Rivergrass in 2023 and look forward to the first homes being available to residents by the end of 2024,” said Christian Spilker, president and CEO of Collier Enterprises and a partner in The Tarpon Blue Family of Cos.
Read more about Rivergrass new home construction in eastern Collier County.
For more information about buying a new construction home in Southwest Florida contact David. Email or call David@DavidFlorida.com or 239-285-1086.
