Naples is such a unique place to live. It truly is a lazy Gulf side community that has been fortunate to have maintained a small town character. Why Naples with its perfect climate has not morphed into a west coast Miami is a complete mystery to me. That says a lot about the people of Naples and the thought process that has guided development throughout the years. There is a genuine concern to keep this area similar to how it once was.
Any other beachside community would typically have 100's of high-rises lining the Gulf beaches by now but not Naples. In fact we have very few high-rises to speak of. The only direct beachside area with a high concentration of high-rise residential buildings is Park Shore, a beautiful area 10 minutes north of Olde Naples.
Park Shore is a 760 acre development comprised of commercial space, the Venetian Village (a shopping/dining area on Venetian Bay), interior and waterfront single family homes/low-rise condominiums, and 25 high-rise buildings organized in a curvy fashion with 5 large park areas in between every 5 or so buildings. The buildings were arranged with the thought process I was speaking of earlier - Not to maximize every inch of buildable area but rather to preserve some green space and keep the views of its residents in mind.
Horizon House was the first Park Shore beachside building built by Ray Lutgert. It was built in 1972, has 76 condominiums/15 floors, is the southernmost building, and sits directly on the beach. Aria, built in 2006, was the final building built in Park Shore, has 65 units/20 floors and is situated back a bit from the beach overlooking one of the 5 parks.
There are currently 87 high-rise condominiums for sale, 13 pending sold with contingencies, 7 pending sold, and 144 sold in the past year. It is a fairly balanced market with a 7-month supply of inventory.
The least expensive unit currently for sale is in Savoy listed for $525,000 ($302 a sq ft). It was built in 1983, has 2 bedrooms/2 baths and 1,735 sq ft of living space. The most expensive condominium for sale is a penthouse unit in the ultra exclusive building the Regent. It was built in 2002, has 5+ bedrooms/8 bathrooms, 12,050 sq ft, and is priced at $14,400,000 (1,195 a sq ft).
Each high-rise has something unique to offer. Whether it be tennis courts, shuffleboard, roof top observatory deck, community theatre, is pet friendly, has under building parking etc.
Clients often discount the older buildings until they quickly realize that the older buildings in many cases have the best views and placement on the beach with the newer buildings, for the most part, set back further and overlook the green spaces.
Park Shore has a lot to offer and has a perfect location for accessing Olde Naples to the south and the ever-popular Mercato shopping/dining district to the north. It should definitely be a consideration if you are choosing to purchase in Naples.
See the links below for what is for sale in Park Shore and a user-friendly digital map.
Happy Valentine's Day.
Scott Pearson GRI, CRS