Construction underway on Kalea Bay high rise community

Published: Updated:

NORTH NAPLES, Fla.- Construction on a new high rise community is underway. The first of five towers at Kalea Bay is expected to be completed in two years.

The resort-style community is located just north of Wiggins Pass on Vanderbilt Drive.

Each high rise building will have a roof top pool, and sky lounge. There will also be additional pools, a clubhouse and three tennis courts.

“The market has come back substantially, we are positioned exactly where we want to be and we’re very excited about getting it started,” said Richard Corace, president of Lodge Abbott Development Company.

He said they bought the property 15 years ago.

“There was a slight dip in real estate market in 2006 and 2007 and 2008, which I’m sure we all don’t remember, but as a result there was a delay.”

Corace said during that time they were also developing Moraya Bay off of Gulf Shore Boulevard, which was the last high rise built.

“It couldn’t have been worse but we slugged through it,” said Corace. “It turned out to be one of the most iconic buildings in all of Naples and we’re very, very proud of it and it is completely sold out.”

Corace tells WINK News that so far, they’re off to a good start with Kalea Bay. In the past three months, they have sold about 50 condos.

He also says this could be the last large high rise development in Collier County.

“There is no more land that would justify doing high rises, where you have unobstructed views of the Gulf of Mexico, west of US 41, and in highly desirable area of North Naples. So I mean, all of these factors play into our enthusiasm for this.”

Corace said it will take a decade to build the entire Kalea Bay community.

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