London Bay Development’s The Ritz-Carlton Residences Estero Bay has been in the works since 2017. Last week, the Naples-based developer began construction on the first of two 22-story towers and celebrated selling more than 60% of the planned units for more than $252 million.
“It’s been a long time coming through for us,” London Bay Chief Financial Officer Stephen Wilson said. “We believe we have an absolutely wonderful mix of nature and luxury that we haven’t seen before in Southwest Florida.”
Each tower will have 112 residences ranging from 2,628 to 3,885 square feet, with prices from $3 million to $15.1 million. The residences will anchor the 500-acre Saltleaf community on Estero Bay.
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