New Luxury Development forges ahead in Naples after legal settlement with the city
M Development’s luxury mixed-use project, The Avenue, is progressing in downtown Naples following a legal settlement with the city in June 2024. The following are the essential details regarding the development and its advancement:
Project Summary
The Avenue will be situated on a 4.32-acre site in the 900 and 1000 blocks of Fifth Avenue South, acting as a gateway to downtown Naples. The project will encompass:
- Fifty upscale condominiums
- 75,000 square feet dedicated to boutique retail and dining options
- Elevated parking structure
- Pedestrian alleyways lined with trees
Details of the Legal Settlement
M Development filed a lawsuit against Naples in December 2023 following the city’s decision to stop plans for underground parking. The key terms of the settlement reached in June 2024 include the following:
- Removing underground parking and large retail stores such as Whole Foods
- Decreasing commercial space from 126,000 to 75,000 square feet
- Maintaining current alleys for community access and pedestrian pathways
- Permitting the project to move forward with the necessary administrative approvals
Present Condition and Future Actions
Preliminary plans received approval from the Design Review Board on August 28, 2024. Additionally, final approval from the Design Review Board is anticipated in the fall. On October 18, 20241, the City Council approved a subdivision resolution unanimously.
Construction is anticipated to commence in the first quarter of 2025, with a projected timeline of 20 months.
Design and Features of the Project
- Created by MHK Architecture & Planning in collaboration with Morris Adjmi Architects
- Two three-story buildings that combine retail space on the ground floor with condominiums situated above.
- Elegantly designed and landscaped pathways featuring vibrant retail opportunitiesParking garage located in the southwest corner designated for both commercial and residential purposes.
The effect on Naples
The Avenue is anticipated to elevate Naples’ downtown area by Expanding the high-end Fifth Avenue South shopping district Enhancing traffic flow and promoting pedestrian interactionRedeveloping vacant and storm-damaged propertiesFour
The mayor expressed some concerns regarding the pace of development; however, the project continues to advance as part of the city’s vision for managed growth and economic progress in downtown Naples.