Luxury condos transform downtown Naples

The area around Fifth Avenue South is growing up — literally. Rising

three to 15 stories, six luxury condominiums within a 1-mile radius are ushering in a new era of urban living that’s closer to downtown’s restaurants and stores than Port Royal and The Moorings. With addresses along Fifth Avenue South, Davis Boulevard and Third Street South, the buildings will collectively add 214 residences, a 126-room hotel, a 120-slip marina, retail, restaurants and office space. 

Avra at Metropolitan Naples is leading the renaissance with closings anticipated in mid-October, according to sales director Ed Gonzalez. Half of the development’s 56 residences, priced from $2 million to more than $7 million, have sold. 

“We’re experiencing more activity,” Gonzalez said. “Buyer interest isn’t coming from one place. Our last couple of deals were people from the Northeast. The market is opening up. We also have locals who aren’t necessarily downsizing but changing their lifestyle and want more convenience.”

As the second installment of the three-phase Metropolitan Naples — the luxury apartment building Ascent opened last year — the 15-story Avra offers amenities, residences and penthouses over a lobby level of anticipated restaurants and retail. Located on Davis Boulevard, the building’s two- to four-bedroom homes span 1,780 to 4,082 square feet under air and feature terraces overlooking downtown, Naples Bay and the Gulf. Avra also offers a fifth-floor fitness center and yoga studio with 360-degree views, a catering facility, putting green and rooftop infinity pool.

Conceived by longtime Naples developers Jerry Starkey and Fred Pezeshkan, who won a design competition, the 5.3-acre site was previously owned by Collier County and targeted for redevelopment as the Bayshore Gateway Triangle. The project’s third unnamed tower includes additional condos and 25,000 square feet of office space. 

“At Metropolitan Naples, residents can work, go downstairs for lunch and get a nice steak and a glass of wine without a car,” Gonzalez said.

The groundbreaking for The Halcyon Residences & Marina, a three-building complex of six-story condos with 66 luxury residences, 55,000 square feet of amenities and a private marina with direct access to Naples Bay and the Gulf, is anticipated for January 2027. The $350 million project, situated on 8 acres across from Metropolitan Naples on Davis, represents the first U.S. luxury residential development by London-based Henley Investment Management.

“We’re seeing strong interest from buyers who want a modern, cosmopolitan expression of Naples luxury and recognize the momentum building along the Davis and Bayshore corridor,” Emma Rickwood, a Henley board member and chief marketing officer, said in a prepared statement. “They appreciate the quality and space of the residences, but they’re equally drawn to the opportunity to be part of an area that is set to become one of Naples’ most dynamic neighborhoods.”

Marina-front residences range from 2,190 to 3,375 square feet under air and offer two to four bedrooms and pre-construction pricing from $3 million to $7 million. Amenities will include a clubhouse with a fitness and wellness center, private cabanas, an indoor rock-climbing wall, a marina-level tiki hut, a putting green, pet grooming room, bocce and a speakeasy. There’s also a sky deck with pickleball and padel courts, as well as concierge and residential butler services.

“Residents can be on the water one moment and exploring downtown Naples the next,” Rickwood said. “That connection to both the waterfront and the city has shaped our community around boating, wellness and recreation.”

Henley expects to complete the entire project in two years, according to Elena Mellow, a local sales associate. The marina will offer 120 wet and dry slips. It’s currently leased to the Freedom Boat Club at Brookside Marina and will roll over to The Halcyon in two years, Mellow said.

Also in the area, on the corner of U.S. 41 and Davis Boulevard, is The Ellington, a $110 million project planned for 124 hotel rooms and 24 condos, on the drawing board since 2021. The site, just outside Naples city limits, has remained dormant since county commissioners rejected a $1.9 million incentive request. 

Casa Avenue 31, a three-story mixed-use development between Del Mar and Osteria Tulia restaurants right on Fifth Avenue, will include the Avenue 31 eatery and three condos with two and four bedrooms overlooking the street and a lake. The third-floor penthouse will offer 4,507 square feet with two dens and eight walk-in closets.

The Avenue Naples, which broke ground in January, features 50 luxury condominiums in four three-story buildings above 75,000 square feet of prime retail, restaurant and wellness space. Developed by Aprea, the upscale mixed-use project spans 4.3 acres and nearly two blocks along Fifth Avenue South, bordered by Sixth Avenue South, 10th Street South and 11th Street South.

The first phase, launched in March 2025, features two- to four-bedroom residences ranging from 1,800 to 3,400 square feet with large terraces, Italian-crafted kitchens and pricing from $3.4 million to $7.9 million. Phase II, on the 1000 block, is steeped in a European-inspired streetscape with landscaped promenades, boutique shops and fine dining. The Avenue’s amenities include a 24/7 doorman, full-time concierge services and a rooftop pool.

Encore Naples Square, with only four of its 15 condominiums still available and commercial office space already leased to a single tenant, is planned for completion during the fourth quarter of 2026. Remaining three- and four-bedroom residences in the three-story development on Third Street South offer 3,582 to 4,657 square feet with pricing from $3.6 million to $5.9 million. Amenities include a 100-foot lap pool, a spa, fitness center, social room and a walkable location convenient to the Design District and the new Gulfshore Playhouse.