With site work underway and vertical construction slated to begin in September, summer sales have surged at Naples Square, a new community located at the corner of 5th Avenue South and Goodlette-Frank Road being developed by The Ronto Group. Ronto reported that five sales transactions valued at over $3.5 million were processed in July and that five new contracts totaling approximately $5 million have already been processed in August. Scheduled for completion by fall 2015, Phase I will include 73 residences.
With over 55 reservations received, its condominium documents approved, and final construction plans submitted for fast-track permitting, The Ronto Group announced it is now securing contracts for residences at Naples Square ahead of its originally anticipated schedule. Ronto is developing the Naples Square community at the corner of Fifth Avenue South and Goodlette-Frank Road in downtown Naples. Naples Square will bring a sense of cohesion to downtown by connecting 5th Avenue to Bayfront with access on 10th Street via Third Avenue South. The community’s walkable lifestyle will put the downtown district’s combination of expansive beaches, eclectic shopping, eateries, and entertainment venues at its residents’ doorstep. Naples Square’s seven beautifully finished floor plans range from over 1,200 to just under 3,000 square feet and are priced from the $500s. The community’s location, pricing, and floor plans have generated a sense of urgency with homebuyers. Ronto now anticipates breaking ground on Phase I’s 73 residences this summer with completion anticipated in third quarter 2015.
An eclectic mixture of Bermuda, British West Indies, and Coastal Contemporary architectural styles created by Matthew Kragh, AIA, owner of MHK Architecture & Planning, will bring a timeless flavor to Naples Square, an enclave of residences ranging from 1,200 to 3,000 square feet being developed by The Ronto Group on the corner of Fifth Avenue South and Goodlette-Frank Road.
Anthony Solomon looked at the same numbers on existing condos in Naples as everyone else, and he came to the same conclusion as everyone else. But he acted before most others.
“There’s basically no supply,” reasoned Solomon, executive vice president of The Ronto Group.