With Gulfshore Playhouse poised to close on its purchase of a three-acre tract within Naples Square in Downtown Naples in mid-August, The Ronto Group’s vision of a community that not only enriches the entire Downtown District, but also provides its residents with a truly walkable lifestyle has taken on an added dimension. As planned, Gulfshore Playhouse will build a multimillion-dollar 56,000 square feet complex that will include two theaters and an education wing to support programming for children, adults and families. The complex will be located at Goodlette-Frank Road and First Avenue South on the northern end of Ronto’s 300-unit Naples Square development. Two of the development’s four residential buildings have been completed. Construction of the third building is expected to start in fourth quarter of this year.
With purchase agreements worth over $25 million already processed, Phase III sales activity at Naples Square continues to be strong. Naples Square is being developed by The Ronto Group at 5th Avenue South and Goodlette-Frank Road in downtown Naples and will include nearly 300 residences at build-out. The community’s walkable lifestyle is bringing a sense of cohesion to downtown. Plans for the Shoppes at Naples Square are actively being developed and will offer retail and restaurant space on the eastern edge of the Naples Square site. Ronto anticipates retail openings in 2019. In addition, Gulfshore Playhouse has entered into a purchase agreement for a 3-acre site within Naples Square in anticipation of building a new regional theatre complex. Closing on the land purchase is expected in mid-August.