A nighttime aerial rendering shows The Avenue, a luxury mixed-use development planned for Fifth Avenue South in downtown Naples, featuring 50 residences above retail, dining and wellness space.
The Avenue, a luxury mixed-use development under construction on Fifth Avenue South in downtown Naples, secured $202 million in financing as the project moves into its vertical construction phase.
The financing package includes $109 million in Commercial Property Assessed Clean Energy, or C-PACE, funding and a $93 million construction loan from Bayview Commercial Mortgage Finance.
Developed by APREA and JSB Capital Group, The Avenue broke ground in January on the 4.3-acre site of the former St. George and the Dragon restaurant, just east of Four Corners.
Plans call for 50 luxury condominiums above 75,000 square feet of boutique retail, restaurants, wellness and lifestyle space spanning nearly two blocks.
Construction is expected to continue through 2027, with initial homeowner move-ins anticipated in early 2028. Sales are being handled by the Dawn McKenna Group of Coldwell Banker Realty.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.