$350M Marina Development Planned for Bayshore Gateway Triangle CRA

A major new development project has been announced for the Bayshore Gateway Triangle Community Redevelopment Area (CRA) near downtown Naples, Florida. The $350 million residential and marina development will provide a premium waterfront living experience to the area.

Project Details
The property will span 350,000 square feet and is the result of a joint venture between London-based Henley Investment Management and Naples-based Gillette Development. The firms have acquired waterfront land approximately one mile east of downtown Naples for this ambitious project.

Key aspects of the development include:
60 to 70 high-end condominiums
More than 100 boat slips.
Direct access to the Gulf of Mexico via Naples’ intercoastal network.

Design & Architecture
The project will be brought to life by: MHK Architecture: Responsible for the overall architectural design
Megan Sherwood: Tasked with interior design
These firms will likely aim to create a modern and luxurious living space that complements the surrounding coastal environment.

Market Positioning
Henley Investment Management officials have stated that comparable condominium complexes in the Naples area previously sold for more than $2,000 per square foot. This implies that the new project will be positioned as a premium product in the local real estate market, targeting high-end purchasers and investors.

Economic Impact
The $350 million project is expected to have a considerable economic impact on the Bayshore Gateway Triangle CRA and the surrounding Naples region. It is likely to provide jobs in construction, property management, and other service businesses, as well as increase property values in the surrounding neighborhood.
This venture is a significant vote of confidence in the Naples real estate market and may serve as a catalyst for additional investment and development in the Bayshore Gateway Triangle CRA.