Naples’ Miracle Mile remade by luxury condo boom

Proving its endurance and promising a luxurious renewal, the Miracle Mile’s significant transformation continues to shape the local landscape along the Gulf in Naples. 

The Miracle Mile — actually a slightly longer 1.3-mile stretch of shoreline — runs south along Gulf Shore Boulevard North from Doctors Pass to the newly redeveloped and relaunched Naples Beach Club, a Four Seasons Resort. While redevelopment of the aging condominium buildings along the beach might have eventually happened over time, the destructive storm surge of Hurricane Ian four years ago accelerated the process, resulting in record sales and fresh plans.

The mostly residential areas of the Moorings and Coquina Sands are seeing the construction trend of new upscale condo projects. Moving from vintage to vanguard, mostly low-rise structures, such as the Bahama Club, Gulf Shore Colony Club, Harbour Club, The Mansion House and Park Place Club have been razed to raise the next generation of luxury living represented by Rosewood Residences, Olana, Harbour House, 2020 Gulf Shore and 3300 Gulf Shore.

Natural destruction was the eventual catalyst for the new construction of Miracle Mile properties such as the two being redeveloped by Kolter Urban, a Florida-based real estate development and investment firm. Olana and 3300 Gulf Shore are replacing the Bahama and Executive clubs, respectively.

“Both were much older construction and kind of built right on the sand, no long-term vision of sustainability, so they were casualties of Ian,” says Kolter Urban President Brian Van Slyke, who lives in Naples.

Concurrently, the collapse of the Surfside condo tower five years ago on Florida’s Atlantic coast also continues to play a role as owners of aging beachfront condos consider the extreme costs to shore up their investment.

“I think that definitely factors in. That’s going on statewide, unfortunately,” Van Slyke says. “A lot of these older buildings have a lot of deferred maintenance, and Surfside brought that to light. With a change in the [Florida] Statutes, there’s kind of a realization of what it’s going to take to bring these properties up to current standards. So, that definitely factors into the board’s decision whether to make a further investment or to sell.”

Selling Naples

Most of the developers of Miracle Mile properties have invested in state-of-the-art sales galleries to market the new luxury accommodations. They showcase the level of upscale finishes and attention to detail through life-size displays and scale models that show and sell the beach homes.

“We employ the latest in technology to create a virtual walk-through and share our floor plans,” Van Slyke says. “The sales gallery remains an important proponent of our marketing strategy, as well as social media, [which] has become a key component, if not for direct sales, for project awareness.”

Demographically, the new luxury condos are still attracting traditional Midwest buyers, Van Slyke said, but times are changing.

“We’re probably trending a little younger than Naples has historically done — more empty nesters than necessarily full-time retirees,” he says. “But, we are also getting buyers interested from the Northeast and as far away as California. We’re getting California interest due to the political climate, the tax climate and people just wanting a beautiful lifestyle with a lower tax base.”

The recent relaunch of Naples Beach Club provides another destination of amenities for Miracle Mile condos just a short walk away along the beach.

“The Four Seasons offers an additional entertainment and dining opportunity very close by,” Van Slyke says, making note of what has been dubbed “The Four Seasons Effect.” “That brand awareness is helping attract people who may not be aware of Naples, and then for people who are aware, the proximity is a great added bonus to the project location.”

The new condo market has become competitive in Naples, prompting developers to emphasize robust lifestyle points that make their projects stand out.

Working with the citizen-formed Miracle Mile Committee that represents area stakeholders, the city of Naples is developing a long-term plan for the tony stretch that considers infrastructure, landscaping and streetscape enhancements. The Miracle Mile Committee strives to retain its charm and beauty, protect water views and create safe infrastructure for traffic in that longtime residential area.

As part of this effort, the city has initiated a conceptual streetscape design and is conducting a utilities infrastructure analysis to identify necessary upgrades. The goal is to coordinate the infrastructure improvements with future landscape and streetscape projects to minimize disruptions and maximize project efficiency, City Manager Gary Young reported.

Young has met with the Miracle Mile Committee to reestablish communication and gain insight into the corridor’s needs and long-term vision. The city anticipates discussing the Miracle Mile planning effort at a City Council workshop this fall.

Rosewood Residences 

The 50-year-old Mansion House’s eight two-story cooperative condominiums in the Coquina Sands neighborhood were razed for the rise of Rosewood Residences Naples, scheduled for completion at the end of this year. That’s according to Anthony Solomon, president and owner of The Ronto Group, the Naples-based developer of Rosewood Residences in collaboration with Wheelock Street Capital and Rosewood Hotels & Resorts. 

The two buildings and amenities comprising Rosewood Residences are being built on more than 5 acres with nearly 500 feet of Naples beachfront at 1601 Gulf Shore Blvd., just north of Lowdermilk Park. 

“There are really not too many parcels in Naples at all of that size on the beach. That makes it extremely unique,” Solomon said.  

In addition to its size and location, what makes Rosewood Residences Naples distinctive is its exclusive branding with similar VIP treatment and preferential advantages guests enjoy at Rosewood Hotels & Resorts properties. 

Floor plans range from 4,226 to 9,673 square feet for the 42 high-end residences, available in three-, four-, five- and even six-bedroom units. Asking prices range from $12.75 million to $45 million, which includes five penthouse units. Most of them will be seasonal homes, Solomon said. 

3300 Gulf Shore

Construction for 3300 Gulf Shore began earlier this year at 3300 Gulf Shore Blvd. N., between the Gulf and Doctors Bay near Lowdermilk Park. The properties had been on Kolter Urban’s target list for a while, Van Slyke said.

“Obviously, all the things that Naples offers with the beautiful beaches, with the great dining and entertainment, it fits our development model very well,” he says. “When these two sites came available after Ian, they were prime locations. You know, the Miracle Mile is aptly named. It’s a beautiful stretch of land; it’s got a great residential feel, tremendous beaches, all while being close to all the dining and entertaining that Fifth Avenue and Third Street offer. So, it’s a really great location.”

The eight-story development will feature 51 expansive condominiums with two to five bedrooms, a private 16-slip marina and many other high-end amenities at the former Executive Club site in the Moorings. Unit sales were strong this summer, Van Slyke said.

“We’ve had good response,” he said. “We are at over $60 million in hard contracts on 3300, so we’re excited about that, off to a good start. They start at just under 2,000 square feet and they go up to over 7,000 square feet for a full-floor penthouse. So, we’ve got a nice range of offerings.”

At 3300 Gulf Shore, Kolter Urban is seeing buyers either downsizing to relocate there or buying second or third homes. Some smaller units are available.

“We can accommodate all the lifestyle needs in 3300,” Van Slyke says.

The new luxury waterfront residential community planned is targeted for delivery in summer 2028, he said.

Olana

Olana’s permitting was being negotiated this summer with plans to start construction this fall at 1121 Gulf Shore Blvd., Van Slyke said. 

“That one will be delivering the fall of 2028,” he says. “We’re in the process of finalizing our condo docs and submitting those to the state. So, once we start construction, we’ll then be converting to contract later this year.”

The private enclave is planned in a six-story building with beachfront living and resort-style amenities in the Old Naples neighborhood of Coquina Sands. A dozen ultra-luxury residences of more than 10,000 square feet each start at $30 million.

“Olana is very unique that it offers a complete home in the sky,” Van Slyke says. “It offers all of your entertainment spaces and living spaces inside your unit, as well as each unit has its own fitness and wellness component located in the unit.”

Olana also is proposed as an ultra-private development for the right buyer.

“That’s definitely not a downsize at 10,000 square feet each, but it offers new construction, sustainability — and, most importantly, it offers privacy for people who want everything that a home on Gulf Shore Boulevard offers and being beachfront, Gulf-front but then having that privacy, security and attention that a full-time concierge staff offers.”

Harbour House

Borelli Construction of Naples is targeted to break ground this fall on the three waterfront condo buildings for Harbour House, which it expects to take 20 months to build. The completion date is planned for spring or summer 2028 at 1624 Gulf Shore Blvd. N., which is on the bay side of the street, said Parker Borelli, third-generation president of the local luxury home builder known for its decades of work from Park Shore and The Moorings to Pelican Bay and Grey Oaks.

The old Harbour Club on that site had 21 units, while the new Harbour House will have 14 boutique single-family-style residences designed by MHK Architecture.

“We reduced the density there quite a bit,” Borelli says. “But those were ’60s units, so they were a little small and they had so much land that they weren’t using.”

Harbour Club’s first floor was abandoned after being wiped out by Ian’s storm surge. “There were a handful of people living on the second floor that moved out the day before the purchase closed, but the first floor was abandoned. They didn’t want to go through and do any renovations,” Borelli says. “Next door is Reef Club and it’s basically the same layout and everything, and they remodeled the first floor, whereas Harbour Club decided they didn’t think it was worth it, so they sold.”

The Southwest Florida-based development group acquired the 1.36-acre Coquina Sands property post-season last year for $17.5 million.

Each condo unit at Harbour House will feature a private garage, a personal elevator and generous outdoor living spaces with pools and spas. Residents also will enjoy access to a bayfront pool, a dock lounge area over the water and the limited opportunity to purchase boat slips with direct Gulf access. 

“Our goal is to bring a modernized luxury lifestyle to Gulf Shore Boulevard while preserving the small-town charm that makes Naples so special,” Borelli says.

2020 Gulf Shore

Chicago-based Golub & Company is co-developing 2020 Gulf Shore on the bay side of the boulevard with Barron Collier Companies of Naples. The multifamily project is in a redesign stage and not expected to break ground until next spring on a project anticipated to be built within 22 months, said Lee Golub, managing principal of his real estate investment, development and management company.

Golub was attracted to this Miracle Mile property because of its boat slips with easy access to the Gulf and its unobstructed view of shore. 

“Even though we’re not on the sand, nothing can be built forever on the Moorings Beach Club site,” he says. 

Golub bought the 1.58-acre property for $30 million in May 2023, just eight months after Hurricane Ian damaged the Park Place Club on that site in the Moorings.

“They had some ground-floor units that were just totally decimated,” Golub says. “But it’s the only site we found — and we looked at a lot of sites up along Gulf Shore both north of Doctors Pass and south — and from the standpoint of having that [11 boat slips with access to the Gulf], that’s what really attracted us to this site.”

It was a plus that the site was in a low-density area with quick access to the Four Seasons Resort and downtown Naples. Ironically, though, the 18-unit 2020 Gulf Shore is a mid-rise boutique project for Golub, which typically develops high-rises, but does not have the ability to build high in this case. Both four-story buildings, though, have rooftop terraces for viewing sunrises and sunsets.

“That’s one of the things we think is interesting about our site because it is boutique,” Golub says. “It’s not an amenitized project like a Rosewood or the Naples Beach Club. We just don’t have the space, but there’s a lot of people who don’t want to be with a lot of other transient people.”

Sales for 2020 Gulf Shore are being exclusively led by The Dawn McKenna Group, affiliated with Coldwell Banker Realty.

“The Miracle Mile absolutely has a lot more cachet than people probably even think,” said Christine Lutz, director of new development sales and marketing for The Dawn McKenna Group. “That is a fact, and I know that is allowing us to be extremely attractive — and we’re generating interest.”