Laura Layden | Naples Daily News
The “Miracle Mile” in Naples has seen another eye-popping sale.
A beachfront redevelopment site has fetched $92.5 million. The buyer: Kolter Urban, based in Delray Beach on Florida’s east coast.
It’s the second big investment made by the same company along a roughly one mile-stretch of Gulf Shore Boulevard North that has been dubbed the “Miracle Mile,” after showing resilience in the face of so much devastation from Hurricane Ian in 2022.
The area is seeing major changes.
The storm has triggered more redevelopment and a grassroots effort, supported by the city, to rebuild and improve the “public realm.”
With the redevelopment, residents and city leaders see an opportunity to “make lemonade out of lemons,” in a public-private partnership to improve the look and function of the street, creating a marquee entrance into the city. A conceptual plan is in the works.
Kolter’s latest purchase in the area is a 3.07-acre site at 3300 Gulf Shore Blvd. N.
In a statement, Brian Van Slyke, the company’s regional president for the West Coast, said the purchase “represents Kolter Urban’s ongoing commitment to creating exceptional waterfront living experiences.”
The company’s projects include The Ritz-Carlton Residences in Sarasota, Saltaire St. Petersburg, ONE St. Petersburg, and Hyde Park House in Tampa, with other communities currently under development along both coasts of Florida.
Read the full article on naplesnews.com.
If you are looking for waterfront living in Naples, Florida, contact David at David at David@DavidFlorida.com or 239-285-1086.