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This Week in Real Estate: October 1-6

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Lead Photo: The Mayfair estate is now under construction in Coquina Sands. Details below.

 

RESIDENTIAL

 

Video courtesy of WINK News

FLORIDA EVICTIONS MORATORIUM ENDS; LONG-TERM EXTENSIONS HELPED SOME, HURT OTHERS

Time is up for people who haven’t paid their rent or made their mortgage payment. The moratorium on evictions and foreclosures in Florida ended on Oct. 1, and Gov. Ron DeSantis said he is not extending the order he initially made in April. The moratorium has been helpful for some tenants and weighed heavily on some landlords in Southwest Florida. The Centers for Disease Control and Prevention issued its own seven-step, COVID-19-related moratorium, though, that offers protection from eviction until Dec. 31, WINK News reports.

 

Video courtesy of WINK News

DEVELOPER PRESENTS REVISED PLANS FOR NORTH NAPLES CONDO COMMUNITY

A developer wants to build more than 100 condo units that some people say will block their view of paradise and bring more traffic to North Naples, WINK News reports. One Naples is planned for the intersection of Gulf Shore Drive and Vanderbilt Beach Road. Stock Development presented the project on Oct. 1 to the Collier County Planning Commission, which will decide if the project moves ahead to the full county commission. The local developer said it has had nearly 50 meetings with community members to address the height issue, number of units and traffic concerns. It has lowered the height to 16 stories and now plans for 172 units. A group named Save Vanderbilt Beach said more than 600 people have signed a petition opposing the project. About 80 people signed up to speak on the project on Oct. 1, but they will have to wait because the planning commission postponed public comment until its Oct. 15 meeting.

 

AVE MARIA BREAKS RECORD WITH OVER 350 NEW HOME SALES THIS YEAR

Announcing 350 new home sales within the last year, the town of Ave Maria continues to reach historic levels and shows no signs of cooling off. In comparison to the same time last year, new home sales are up 74%, and this year-over-year increase is the largest since the master-planned community opened in 2007. Demand for new housing remains high for the development with 66 sales for the month of September, up from 60 in August and 52 in July. Home sales were reported from the four residential builders in Ave Maria — CC Homes, Del Webb Naples, Lennar and Pulte Homes. At its buildout, the town will include up to 11,000 residences, and 1.7 million square feet of retail, office and business park uses in its 4,000 acres in Collier County. 

 

FORT MYERS CRA APPROVES TIF REBATES FOR AREA COMMUNITIES

Silver Hills at Fort Myers, Phase II, a 126-unit luxury multi-family apartment community to be built in the downtown redevelopment area, was approved for a tax increment rebate of $4.965 million at the Fort Myers Community Redevelopment Agency (CRA) Board of Commissioners meeting on Sept. 23. The developer, Silver Hills Development Inc., is currently building Phase I across the street. It is a $75 million project consisting of 327 units, and completion is anticipated in 2021. Phase II will consist of a residential building that will front directly onto the Caloosahatchee River. The total project cost for Phase II is $29.61 million. Phase II has an anticipated completion date of 2022. In addition, St. Peter Claver Place Apartments, Phase II, a 78-unit workforce housing apartment community to be built in the Dr. Martin Luther King Jr. Blvd. redevelopment area, was approved for a tax increment rebate of $2.6 million at the Sept. 23 Fort Myers CRA Board of Commissioners meeting. This is the second phase of a 214-unit apartment community. The total project cost for Phase II will be $16.76 million. The project will help alleviate the current deficit of housing in Fort Myers redevelopment areas and provide many community benefits, according to a news release. The workforce apartments will be rented at a below-market rate. In addition, a variety of social services will be offered to residents through its subsidiary, Catholic Charities, Diocese of Venice Inc. The developer, National Development of America, has already been approved for a $4.5 million rebate for Phase I. The project will be owned by the Diocese of Venice, which currently owns the 17.44-acre site, located at 3681 Michigan Ave. The Diocese owns and operates the African Caribbean American Catholic Center facility on this property. The projected completion for Phase II is 2024.

 

COQUINA SANDS ESTATE UNDER CONSTRUCTION 

Naples luxury homebuilder Diamond Custom Homes has begun construction for an 8,480-total-square-foot estate home on Yucca Road in Coquina Sands. Situated on a .44-acre site just .3 miles from Lowdermilk Park, the five-bedroom, five-full-and-one-half-bathroom estate is designed by Jon Kukk of Kukk Architecture & Design P.A., with interior design by Sherri DuPont of Collins & DuPont Design Group and landscape architecture by Christian Andrea of Architectural Land Design. The custom estate home will feature an open great room layout in a transitional design featuring custom-designed cabinetry by EDGE Cabinet and Space Creators, in addition to the extensive use of wood throughout the interior spaces and outdoor living area. The home, known as the Mayfair, is scheduled for completion in late summer 2021 and available at $7.495 million.

 

Key Biscayne model by Frey & Son Homes

FREY & SON HOMES ANNOUNCES TWO INVENTORY HOMES IN CAPE CORAL

Frey & Son Homes will begin construction on two new inventory homes in Cape Coral, which will feature new, upgraded design elements. Located on a Gulf access canal lot at 3305 NW 21st Terrace, the Key Biscayne model will feature the newly introduced Clean Lines Series, which includes strong visible lines, high ceilings, large windows and other contemporary design elements, according to a news release. The home is priced at $624,900 and scheduled for completion in March 2021. The second inventory home will be located at 3110 NW 43rd Place and feature the St. Thomas plan, which includes a 25-foot wide-angled bank of sliding glass doors focused on the Lupine Lake with direct access to the Gulf of Mexico with no bridges.

 

Gardenia II rendering

STOCK CUSTOM HOMES NOW CONSTRUCTING TWO NEW ESTATES WITHIN BONITA BAY

Stock Custom Homes, the award-winning luxury homebuilding division of Stock Development, is constructing two custom estates in Bonita Bay. The residences are slated for completion in spring 2021. The Gardenia II floorplan inspired the first custom estate, located at 4701 Bonita Bay Blvd. It will encompass nearly 4,000 square feet under air of architecture by South Florida Design and interior design by Sheila Corasaniti-Cook of Boutique Interiors. The estate will feature four bedrooms, four and one-half baths, a bonus room, study, formal dining room, and an expansive great room. The second custom estate, inspired by Stock’s grand 4,369-square-foot under air Clairborne II floorplan, is located at 4691 Bonita Bay Blvd. It will feature architecture by South Florida Design and interiors by Soco Interiors in its four bedrooms, study, exercise room, and great room. The property is accented by an expansive 1,084 square feet of outdoor living area, a feature that Stock’s homes are known for, and will include a fireplace, summer kitchen, conversation areas, pool, and spa. The Gardenia II is currently offered for $3.895 million and the Clairborne II is currently offered for $4.195 million.

 

Cali model

D.R. HORTON OPENS TWO MODEL HOMES IN ENTRADA

D.R. Horton Southwest Florida has opened two model homes in Entrada — a single-family home community by D.R. Horton and its Express Homes brand that will soon be home to more than 700 home buyers, according to a news release. While these model home designs are not new to the amenity-rich neighborhood, they are in a new location — directly across from the community’s amenity center. The four-bedroom Cali model home by Express Homes offers 1,828 square feet of living space and is priced starting in the mid $200,000s. The D.R. Horton model home showcases the popular Clifton floor plan, which offers three bedrooms and two bathrooms, in approximately 1,816 square feet of living space. It is priced starting in the mid $270,000s. 

 

CGU STARTS CONSTRUCTION ON DELRAY BEACH HOME

CGU Homes, a Naples-based luxury home building and remodeling contractor, recently began construction on a custom, private residence in Delray Beach. The 5,674-square-foot home is expected to be complete by the end of 2021. Architectural plans of the home include three bedrooms, three full bathrooms, two half bathrooms, an office, and an open concept living area with floor-to-ceiling glass and outdoor entertainment area that includes a pool, grilling area and lounge. The house is directly located across from the beach. CGU Homes partnered with Stofft Cooney Architects, a Naples-based firm, to complete the design. The interior designer is Megan Winters of Megan Winters Design.

 

 

COMMERCIAL 

 

CAPE CORAL COMMERCIAL SITE SELLS FOR $4.08 MILLION

LSI Companies Inc. brokered an approximately 7.31-acre commercial property for $4.08 million. Encompass Health Rehabilitation Hospital of Cape Coral LLC purchased the site from LG Pine Island and Pondella LLC. The property is located at 1730 NE Pine Island Road, Cape Coral. Justin Thibaut, CCIM of LSI Companies Inc. represented the seller and Enn Luthringer, CCIM of CRE Consultants represented the buyer.

 

CAPE CORAL PROPERTY PURCHASED FOR $2.5 MILLION

Alex Diaz, trustee of Torstonbo Trust, purchased the property at 1612 Cape Coral Pkwy., Cape Coral, for $2.5 million from 1612 E. Cape Coral Parkway Holding Co. LLC. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property of Southwest Florida represented the seller in negotiating the transaction.

 

PINE RIDGE RV & BOAT STORAGE UNDER CONSTRUCTION IN FORT MYERS

Pine Ridge RV & Boat Storage is under construction in Fort Myers, offering easy access to Sanibel Island and Fort Myers Beach with 127 universal rental units that can accommodate RVs or boats in 30-, 40- and 50-foot bays. All units will have a 14-foot height clearance and shaded overhang extending from the building. Each space will include power hookups and access to premium amenities, which include a wash station, waste repository and trash removal services. “Sales of RVs and boats have soared since the pandemic began, but now all of these owners need a safe place to store them,” says Butch Felts, president of Pine Ridge RV & Boat Storage. The project’s architect is Southview Studios and general contractor is Brooks and Freund. Completion is expected in early 2021. For more information, call 239-887-1099. 

 

Venice Golf and Country Club rendering

GATES CONSTRUCTION BREAKS GROUND AT VENICE COUNTRY CLUB

GATES Construction has begun renovations and an expansion at Venice Golf and Country Club. The project involves improvements to both the clubhouse and wellness center. Clubhouse improvements include a new bar, covered outdoor dining with retractable screening, fire pit and re-positioned parking. The wellness center expansion will feature enlarged and flexible exercise spaces, new cardio weight room, new restrooms, and two massage therapy rooms. With architectural and interior design services provided by Peacock + Lewis, construction is slated for completion by late fall of 2020.

 

LEASES

Guardian Pharmacy of Southwest Florida LLC leased 9,431 square feet of office and warehouse space for a lease term of eight years at North Port Business Park, I-75 and Toledo Blvd., North Port, from Panacea Associates III TIC. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida represented the tenant in negotiating the transaction.

Allen Flooring & Design LLC leased 3,050 square feet of retail space from 1826 Trade Center Way LLC, located at 1786 Trade Center Way, Suite D & E, Naples. Rob Carroll, CCIM, MAI of Investment Properties Corp. negotiated this transaction.

Rock Custom Homes Inc. leased 2,940 square feet of warehouse space for a lease term of two years at 3200 Bailey Lane, Suite 300, Naples, from South Florida Growers Association Inc. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and tenant in negotiating the transaction.

Wellness Care Nurse Registry Inc. leased 1,322 square feet of office space for a lease term of three years and two months at 3507 Lee Blvd., Suite 290, Lehigh Acres, from Lehigh Office LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and tenant in negotiating the transaction.

KeyStaff Inc. leased a 1,062-square-foot office space at 3800 Colonial Blvd., Suite 101, Fort Myers from 3800 Colonial Blvd LLC. Enn Luthringer, CCIM of CRE Consultants, negotiated the transaction.

 

ON THE MOVE

 

(L-R): Maria Procacci, Phillip Wood

Phillip Wood and Maria Procacci, principals of John R. Wood Properties and Vineyards Naples Properties respectively, have announced the merger of the two firms. The official combination took place on Oct. 2. The Vineyards is one of the largest residential communities in Collier County, second only to Pelican Bay in the number of residents, with 2,719 residential units, according to a news release. It includes 38 separate villa, condominium, and single-family neighborhoods, offering a variety of price points and residential building styles. The focal point of the development is the Vineyards Country Club. Vineyards Naples Properties, established by Procacci, specializes in the resale of residences in the Vineyards community, which was developed by Vineyards Development Corp. The Wood firm will take over the existing Vineyards Naples Properties space at 75 Vineyards Blvd. and the merged entities will operate as a John R. Wood Properties office. All Vineyards Properties agents will be invited to join the Wood firm, plus additional agents will be brought aboard over time at that location. Procacci will retain ownership of her other companies including Vineyards Rental Properties, Vineyards Services Inc. concierge services for Vineyards residents, and Property Management Professionals of SW FL Inc., an association management company.

Jon Bubb

DeAngelis Diamond welcomes Jon Bubb to the team as senior project manager. In this role, Bubb will monitor project performance to ensure the project is delivered according to the client’s expectations. He will take a leadership role in managing the client relationship together with the project resources. With more than 25 years of construction experience, Bubb has completed various projects ranging from renovations to 225,000-square-foot buildings. He has extensive experience working in the construction industry with some of his top projects including Promise Pointe at Tampa Oaks Assisted Living Facility, Cortona South Tampa Apartments and Artistry St. Pete. Bubb began his career in Pennsylvania before transitioning to the Sarasota area in 2016. He will be based at the DeAngelis Diamond Sarasota office.

GATES Construction has added Mark Mazzella to the team as superintendent. Mazzella will be responsible for daily onsite supervision of GATES’ projects, including quality control, safety, security, project close out, and transition planning. He has over 30 years of experience with club and hospitality, government, multifamily, retail, and various other types of projects. Mazzella will be based out of GATES Construction’s headquarters in Bonita Springs.

 

Amy Nease

Premier Sotheby’s International Realty has appointed sales associate Amy Nease to its Bonita Springs office, located at 27400 Riverview Center Blvd., Suite 4. Nease has spent over two decades specializing in the luxury home market, achieving more than $250 million in closed sales. Attaining numerous accolades throughout her career, she has earned the Graduate, REALTOR Institute designation and the Certified Luxury Home Marketing Specialist designation from the Institute for Luxury Home Marketing. Originally from the suburbs of Detroit, Michigan, Nease is experienced in management, sales and marketing in the retail industry. A University of South Florida graduate, she has been a Florida resident for three decades.

 

KUDOS

 

Residential Options of Florida (ROOF) has received a $7,500 grant from the Bank of America Charitable Foundation in support of the organization’s new Tenant Based Rental Assistance (TBRA) program. The grant will support ROOF’s mission to empower individuals with intellectual and developmental disabilities to successfully obtain and maintain affordable and inclusive housing of their choice. Through the TBRA program, ROOF will provide financial assistance and case management for qualified tenants with disabilities in Collier County so they can afford to rent a home for no more than 30% of their gross income. A case manager will be appointed to help each tenant (or households that include a person with a disability) develop a self-sufficiency plan that addresses the development of life skills, employment skills, and financial literacy skills. The program is scheduled to launch on Oct. 1. For more information, visit flroof.org.

 

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