M Development gets green light to move forward with luxury development

Author: Aisling Swift, Gulfshore Business
Published: Updated:

After suing the city of Naples, an Aspen, Colorado-based developer’s plans were approved, paving the way for a luxury project of condominiums, boutique retailers and restaurants that will serve as a gateway to downtown.

Naples City Council unanimously approved a subdivision replat that changes the boundaries of the 900 block of Fifth Avenue South, 936 Fifth Ave. S. and Sixth Avenue South, nearly 2.5 acres of a 4.32-acre site owned by M Development as 5th Avenue South Holdings LP. The approval formalizes terms of a June 19 lawsuit settlement.

That agreement reduces intensity, improves traffic circulation and alleyways and rights of way won’t be vacated — allowing them to be used for public utilities and a tree-shaded pedestrian shopping walkway. Key terms involved dropping plans for underground parking and big-box retailers, including Whole Foods Market and Restoration Hardware, and retaining existing alleys. The replat was required as part of the settlement.

To read more at Gulfshore Business, click here.

Copyright ©2024 Fort Myers Broadcasting. All rights reserved.

This material may not be published, broadcast, rewritten, or redistributed without prior written consent.