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Demolition Begins For Transformative Mixed-Use Development 'The Avenue' On Naples' Prestigious Fifth AvenueAprea, led by Andy Penev, announced today that demolition has begun at the future site of The Avenue, a sprawling mixed-use project planned at the gateway to downtown Naples on prestigious 5th Avenue between 5th and 6th Avenues and 9th and 11th Streets.
East of Four Corners, where U.S. 41 turns east toward Miami between the historic Tin City and the renowned Fifth Avenue shopping district, the 4.3-acre site consists of a number of vacant lots and empty, non-conforming buildings, damaged by Hurricane Ian, including the former home of the iconic St. George & The Dragon restaurant shuttered in 2012.
The demolition signals the beginning of an exciting transformation of the gateway to Naples by blending luxury residences with vibrant retail and hospitality spaces. This mixed-use development will consist of four boutique buildings, featuring 50 bespoke residences alongside 75,000 square feet of premier retail space, all designed to offer a pedestrian-friendly environment reminiscent of charming European streets.
The demolition process will involve a phased approach, beginning with installing a site perimeter fence then structural assessments and deconstruction to ensure materials are sorted for recycling and proper disposal. Envirostruct will utilize modern, low-impact machinery to reduce noise and dust emissions while demolishing the existing structures, aligning with the project’s commitment to environmental responsibility. The timeline for demolition spans the next 90 days, with efforts to minimize any disruption to nearby businesses and residents through scheduled work hours and proactive communication with the community.
Envirostruct has been tasked with removing all existing structures and is working closely with the City to ensure the process adheres to all regulations and minimizes any disruption to the community. The general contractor for vertical construction will be announced in the coming months.
Aprea is committed to fostering strong relationships within the community throughout the construction process. “The start of demolition is the first of many milestones to come. We have every confidence Envirostruct will ensure this process will be smooth, efficient and environmentally responsible, setting the stage for the creation of a world-class destination in the heart of Naples,” Penev added.
Residences at The Avenue, which began sales in January, are thoughtfully designed with two to four bedrooms and are priced from under $3 million to $8 million. Each building will feature distinctive amenities, including pools, state-of-the-art fitness centers, spas, and club rooms tailored for co-working and socializing. Residents will also enjoy five-star, hotel-level services, including concierge assistance with in-home package delivery, grocery and dry-cleaning services, beach service transportation and setup, housekeeping and home-watch coordination, and exclusive beach house vehicles for convenient coastal living.
The Dawn McKenna Group, recently appointed as the exclusive sales and marketing team for The Avenue, brings their unparalleled expertise and global reach to introduce this unique development to discerning buyers.
“The momentum for The Avenue is palatable. We’ve enjoyed an incredible response from interested buyers who recognize that The Avenue is poised to set a new standard for luxury living in Naples,” said Christine Lutz, Director of New Developments for the Dawn McKenna Group. “We are thrilled to witness the project’s first major construction milestone.”
In addition to offering bespoke residences, The Avenue will feature lushly landscaped open-air walkways, elite dining establishments, and high-end shops that reflect the vibrant charm of downtown Naples.
Images via @thepanoptikon
For more information about The Avenue or to inquire about purchasing a unit please fill out the form below:
Thank you!mixed-use
Feb 25, 2025
Profile Miami
Terra Locks Down $291 Million In Permanent Financing For Phase 1 Of 38-Acre Centro City In West Miami DadeCoconut Grove-based development firm Terra, led by David Martin, has secured a total of $291 million in permanent financing for the newly completed first phase of Centro City, a 38-acre mixed-use development located in the center of Miami-Dade County, just west of Little Havana.
JVP Management has issued a $187 million loan for the development’s multifamily residential component. Hudson Bay Capital has issued a $104 million loan for the retail component. The two loans will be used to pay off the development’s existing construction financing, which was provided in 2022 by Apollo Global Management and Mack Real Estate Credit Strategies.
Now complete, Centro City’s first phase includes a total of 350,000 square feet of revamped and newly built retail space, along with three 8-story multifamily buildings with 470 market-rate apartments. Leasing is now underway for the development’s residential component and tenants are expected to begin move-ins this March.
A Walker & Dunlop team led by Keith Kurland and Gangemi Law Group represented Terra in the transactions. Holland & Knight partners Joe Dewey, Brett Holland, Shawn Amuial and Shaina Kamen, and associate Brian Piper, led the firm’s representation of Hudson Bay Capital.
"Securing long-term financing for Centro City represents a significant milestone, not just for Terra but for the South Florida real estate market as a whole," said David Martin, CEO of Terra. "This project embodies our vision of creating vibrant, sustainable communities that enhance the way people live, work, and connect. Centro City’s completion will provide much-needed housing options, state-of-the-art retail experiences, and community spaces in the heart of Miami-Dade, setting a new standard for mixed-use developments in the region. We are excited to continue building momentum with future phases that will further contribute to the area’s growth and vitality."
Arquitectonica’s vision for the development’s residential component includes multifamily buildings lining the perimeter of the property featuring a series of courtyards, pool decks and lushly landscaped sidewalks. Market-rate units – priced from $2,500 per month – range from studios to two-bedroom apartments measuring between 500 and 1,250 square feet in size. Community amenities include multiple pools, poolside cabanas, barbecue grill areas, a children’s playground, a dog park, resident lounges, game rooms, and more.
The development’s retail component, which included the redevelopment of the property’s existing Central Shopping Plaza, is anchored by a 100,000-square-foot Target and is 95% leased to new and existing tenants including Ross Dress for Less, DD’s, Fresco Y Mas, Walgreens, and Bank of America. Designed by RSP Architects, the reimagined shopping center has been upgraded with a newly conceived façade, common areas, landscaping and signage along with the construction of new retail outparcels.
All told, Centro City’s master plan will come alive in multiple phases and include up to 1,200 market-rate residential apartments, green space for residents, a newly reimagined shopping center with lifestyle-oriented retail and restaurants, a Class A office building, and a Mater Academy K-8 Charter School. Construction of the development’s second phase, which will include approximately 518 multifamily apartments, is expected to commence later this year.
Centro City’s location in West Little Havana – on the northwest corner of NW 7th Street and NW 37th Avenue – is near some of Miami’s largest employment centers, including Miami International Airport, the planned Inter Miami soccer stadium, the Coral Gables Business District, and Blue Lagoon Office Complex. Additionally, the property is across the street from the historic Magic City Casino gaming and entertainment venue, and less than two blocks from the 836 Expressway, providing unparalleled access.
Terra’s portfolio of newly completed mixed-use commercial and multifamily developments across South Florida includes Grove Central, a transit-oriented mixed-use development with residential and retail uses in Coconut Grove; Pines Garden at City Center, a garden-apartment community in Broward County’s City of Pembroke Pines; Natura Gardens, a multifamily community in Northwest Miami-Dade County; and Doral Atrium and Doral Square, two lifestyle-driven retail developments in the City of Doral. Terra is also currently developing Upland Park, a $1 billion mixed-use transit-oriented community that will transform West Miami-Dade County’s Dolphin Park-and-Ride/Transit Terminal Facility into a 47-acre multimodal transportation hub with residential, retail and commercial uses.mixed-use
Jan 07, 2025
Profile Miami
Terra Locks Down $291 Million In Permanent Financing For Phase 1 Of 38-Acre Centro City In West Miami DadeCoconut Grove-based development firm Terra, led by David Martin, has secured a total of $291 million in permanent financing for the newly completed first phase of Centro City, a 38-acre mixed-use development located in the center of Miami-Dade County, just west of Little Havana.
JVP Management has issued a $187 million loan for the development’s multifamily residential component. Hudson Bay Capital has issued a $104 million loan for the retail component. The two loans will be used to pay off the development’s existing construction financing, which was provided in 2022 by Apollo Global Management and Mack Real Estate Credit Strategies.
Now complete, Centro City’s first phase includes a total of 350,000 square feet of revamped and newly built retail space, along with three 8-story multifamily buildings with 470 market-rate apartments. Leasing is now underway for the development’s residential component and tenants are expected to begin move-ins this March.
A Walker & Dunlop team led by Keith Kurland and Gangemi Law Group represented Terra in the transactions. Holland & Knight partners Joe Dewey, Brett Holland, Shawn Amuial and Shaina Kamen, and associate Brian Piper, led the firm’s representation of Hudson Bay Capital.
"Securing long-term financing for Centro City represents a significant milestone, not just for Terra but for the South Florida real estate market as a whole," said David Martin, CEO of Terra. "This project embodies our vision of creating vibrant, sustainable communities that enhance the way people live, work, and connect. Centro City’s completion will provide much-needed housing options, state-of-the-art retail experiences, and community spaces in the heart of Miami-Dade, setting a new standard for mixed-use developments in the region. We are excited to continue building momentum with future phases that will further contribute to the area’s growth and vitality."
Arquitectonica’s vision for the development’s residential component includes multifamily buildings lining the perimeter of the property featuring a series of courtyards, pool decks and lushly landscaped sidewalks. Market-rate units – priced from $2,500 per month – range from studios to two-bedroom apartments measuring between 500 and 1,250 square feet in size. Community amenities include multiple pools, poolside cabanas, barbecue grill areas, a children’s playground, a dog park, resident lounges, game rooms, and more.
The development’s retail component, which included the redevelopment of the property’s existing Central Shopping Plaza, is anchored by a 100,000-square-foot Target and is 95% leased to new and existing tenants including Ross Dress for Less, DD’s, Fresco Y Mas, Walgreens, and Bank of America. Designed by RSP Architects, the reimagined shopping center has been upgraded with a newly conceived façade, common areas, landscaping and signage along with the construction of new retail outparcels.
All told, Centro City’s master plan will come alive in multiple phases and include up to 1,200 market-rate residential apartments, green space for residents, a newly reimagined shopping center with lifestyle-oriented retail and restaurants, a Class A office building, and a Mater Academy K-8 Charter School. Construction of the development’s second phase, which will include approximately 518 multifamily apartments, is expected to commence later this year.
Centro City’s location in West Little Havana – on the northwest corner of NW 7th Street and NW 37th Avenue – is near some of Miami’s largest employment centers, including Miami International Airport, the planned Inter Miami soccer stadium, the Coral Gables Business District, and Blue Lagoon Office Complex. Additionally, the property is across the street from the historic Magic City Casino gaming and entertainment venue, and less than two blocks from the 836 Expressway, providing unparalleled access.
Terra’s portfolio of newly completed mixed-use commercial and multifamily developments across South Florida includes Grove Central, a transit-oriented mixed-use development with residential and retail uses in Coconut Grove; Pines Garden at City Center, a garden-apartment community in Broward County’s City of Pembroke Pines; Natura Gardens, a multifamily community in Northwest Miami-Dade County; and Doral Atrium and Doral Square, two lifestyle-driven retail developments in the City of Doral. Terra is also currently developing Upland Park, a $1 billion mixed-use transit-oriented community that will transform West Miami-Dade County’s Dolphin Park-and-Ride/Transit Terminal Facility into a 47-acre multimodal transportation hub with residential, retail and commercial uses.mixed-use
Jan 07, 2025
Profile Miami
Edgewater, PhiladelphiaFor phase two of the Edgewater mixed-use building, the exterior features a combination of red masonry and gray metal wall panels. There is retail space at the first floor and apartments at upper floors. In addition to apartments, Edgewater has a children’s playroom, dog park, fitness center, outdoor grill and lounge area, rooftop patio, swimming pool, and yoga studio.
To complete the project, Hamburger Roofing and Sheet Metal Inc. installed 2,323 m2 (25,000 sf) of Laminators Inc.’s Omega-Lite metal composite material (MCM) panels in Grey Mica.
Hamburger Roofing and Sheet Metal installed the MCM and Laminators’ Omega CI rigid insulation panels with Laminators’ one-piece, tight-fit molding installation system, creating a back-drained, ventilated rainscreen system.
Developer/general contractor: The How Group LLC, Conshohocken, Pa., howgroup.com
Distributor: Brock Associates LLC, Pittsburgh, brock-assoc.com
Installer: Hamburger Roofing and Sheet Metal Inc., Sellersville, Pa., hamburger-roofing.com
Metal wall panels: Laminators Inc., Hatfield, Pa., www.laminatorsinc.commixed-use
Aug 16, 2024