Hertz temporarily closed its car sales locations nationwide as of Thursday, Oct. 22. “As part of our Chapter 11 process, Hertz has been working to right-size our fleet to align with current demand and meet the requirements of our lenders. Hertz has recently met its target to sell approximately 180,000 vehicles, and as a result, is pausing the car sales program including temporarily closing retail locations. Hertz has maintained the licenses for these locations and will evaluate its car sales program as it replenishes its fleet with new vehicles in 2021,” Hertz said in a statement to Gulfshore Business
. As Gulfshore Business
reported on Oct. 19, Hertz Global Holdings Inc. has secured commitments for debtor-in-possession (DIP) financing totaling $1.65 billion and has filed a motion for approval of the financing by the U.S. Bankruptcy Court for the District of Delaware. The proposed DIP financing will support the company as it moves through the next stage of its Chapter 11 process. For more information, click here
REPORT: BEST SEPTEMBER ON RECORD FOR NAPLES HOUSING MARKET
Performance in several key housing areas was at a 20-year high in the Naples area compared to activity reported during any other September on record, according to the September 2020 Market Report, released by the Naples Area Board of Realtors (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). As such, closed sales increased 52.9% to 1,096 closed sales in September from 717 closed sales in September 2019. Pending sales activity also increased by 83.4% to 1,509 pending sales in September from 823 in September 2019. Median closed prices for September increased 18.2% to $384,000 from $325,000 in September 2019. To view the entire report, visit NaplesArea.com
In an effort to let visitors know it’s safe to return during the busy season amid the pandemic, promotional campaigns recently launched in the Naples area, WINK News reports
. Naples and NCH Healthcare System announced its “All Heroes Wear Masks” initiative Thursday to respectfully and safely welcome visitors. As season arrives, the hope is that visitors feel safe enough to come back and walk down Fifth Avenue South, visit the Naples Pier or take a stroll on the beach. Collier County also has its initiative, “Paradise Pledge,” which includes more than 100 local businesses agreeing to follow social distancing and other guidelines. Last week, Collier commissioners decided to extend the face-covering mandate for the unincorporated part of the county until April.
Career Pathways students working on-site at The Immokalee Foundation’s Learning Lab.
CONSTRUCTION BEGINS AT IMMOKALEE FOUNDATION’S CAREER PATHWAYS LEARNING LAB
Construction is underway at The Immokalee Foundation’s new Career Pathways Learning Lab, an 18-home subdivision where the entire cost of the first home has been generously underwritten by The Wasie Foundation, founded by American trucking pioneer Stanley Wasie. Students involved in The Immokalee Foundation’s Career Pathways program – which helps students beginning in middle school identify a professional career to pursue – are gaining hands-on experience at the Learning Lab. Collier Enterprises donated 8.3 acres of land for the subdivision and helped to underwrite the cost of infrastructure work that took place over the summer. The Ray Foundation’s $250,000 matching grant also was a significant boost in getting the Learning Lab underway. The Immokalee Foundation is also partnering with BCB Homes and Immokalee Technical College (iTECH) on the Learning Lab, and the first home is expected to be completed in April 2021. For more information, call 239-430-9122 or visit immokaleefoundation.org
HABITAT FOR HUMANITY RELOCATING RESTORE IN NORTH NAPLES
Ahead of the opening of its new ReStore replacing the Pier 1 Imports store that closed last month at the Carillon Place retail center in Naples, Friday was the last day for the ReStore that Habitat for Humanity of Collier County has operated for five years on Yahl Street in North Naples. The local nonprofit organization plans to open its new 10,482-square-foot ReStore in January on the southeast corner of Airport-Pulling and Pine Ridge roads. ReStore, which has another location at 11127 Tamiami Trail E. in East Naples, sells gently used furniture, home accessories, building materials and appliances at affordable prices. ReStore donations are tax-deductible and the sale of items there provides a funding stream that helps Habitat build homes for local families in need. Free pickup for large donations can be requested on ReStore’s website, habitatstores.org
, or by calling the donation hotline at 239-732-6388.
BABCOCK RANCH SALES SURPASS 900 NEW HOMES
Kitson & Partners announced that sales have surpassed 900 new homes in Babcock Ranch, America’s first solar-powered town located just northeast of Fort Myers on Babcock Ranch Road/State Road 31. Babcock Ranch recently commenced vertical construction at Crescent B Commons, the 82,640-square-foot Publix-anchored shopping center underway at a new entrance to Babcock Ranch about one mile south of the signature Babcock Ranch bridge. Babcock Ranch began marketing new homes in 2017, with the first residents moving into the town in January 2018. Today, Babcock Ranch offers homes from nine homebuilders in seven neighborhoods. Kitson & Partners created Babcock Ranch with respect for the natural environment and the philosophy that smart growth and sustainability work hand in hand. For more information, visit BabcockRanch.com