In the Know: Chicago hotel developer buying up 5th Ave. parcels, spending nearly $50M in Naples

He's been buying up the mountains. Now, he's buying up the beaches.

A Chicago and Aspen Colorado developer who has built hotels and other huge enterprises in the Windy City and the Rockies has been accumulating property in the Fifth Avenue South corridor in Naples.

Working with Miami Beach and New York City investor Jay Lobell, Mark Hunt is behind the spending of at least $43.5 million on more than a half-dozen parcels, traced through a maze of Colorado, Florida, Collier County, city of Naples and tax records to recently established entities.

"He develops hotels," said Naples investor and Kentucky-based oncologist Dr. Jeff Lopez. "I used to own 975 6th Ave. S. but sold to Brookline several years ago."

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At one time, Clearwater-based Brookline Cos. had contemplated development for a few of the properties, including the old St. George and the Dragon restaurant lot it had acquired from Naples big gun Adam Smith in 2017. Previously, Smith had considered his own mixed-used project near the unusual high-traffic point where Tamiami Trail intersects with itself, and drivers have to make a left turn if they resume on south U.S. 41.

Now, that's all among the holdings for Hunt and Lobell, setting the stage for major redevelopment better linking the beach and the historic downtown to the Design District, Bayfront of Naples, Tin City, the Gordon River and Baker Park. That's part of the thinking also paving the way for the nearby rising AC Marriott and the Gulfshore Playhouse Cultural Campus.

The newly obtained land falls within a rectangle roughly bordered by 5th Avenue South, 11th Street South, Sixth Avenue South and Ninth Street South and includes the Boran-Martin office building Lopez and his group had owned. That two-story 10,764 square footer was completed in 1987, documents show.

We've reached out to Hunt and Lobell, and they haven't disclosed the specifics publicly on what they have in mind. Indeed, buying binges have been Hunt's modus operandi. Southwest Florida may be a little used to this concept, like with serial entrepreneur David Hoffmann.

The $160 million Aspen 'phenomenon'

However, Hunt stirred up mountainous Aspen with his methods after materializing there a decade ago and making multitudinous moves with $160 million, a "phenomenon" as described by community leaders that continues to alter the town landscape.

Known for unsolicited offers, his fingerprints are all over Aspen and affluent Chicago neighborhoods such as Lincoln Park through dozens of building buys and past and evolving deals he brought to colleagues. They include hotels, a music performance center, cafes, restaurants, nightclubs, bars, a brewery, condos, furniture operations, grocers, banks and clothing stores.

"I fell in love with Aspen, and I feel so lucky to have purchased these (properties.) I have a huge responsibility because of the sheer number of buildings," Hunt, who moved operations to the community, previously told The Aspen Times. “I am very private."

But as documented by the Crain's Chicago Business publication, his acquisitions make noise, as Hunt gained fame in real estate circles prior to his Aspen arrival by paying top dollar and making splashy plays in The Second City. Crain also reported that he and a partner made history there in a $117 million sale, one of the most expensive commercial deals per square foot.

Hunt and his M Development company negotiated to build the Robert De Niro-backed Nobu Hotel in Chicago. He's been a player in the updates of the glamorous, 133-year-old Hotel Jerome, known as Aspen's Crown Jewel and a destination for celebrities that was an inspiration for the late Glenn Frey's 1982 single, Partytown.

At the same time, Hunt's been at the center of activity in places like Palm Beach, Atlanta's Buckhead and Madison, Wisconsin. In the past, he's tried to cut deals with the likes of Ian Schrager, co-founder of the 1970s New York hot spot, Studio 54. And Hunt just fell short of bringing a trendy Mondrian hotel to Gold Coast Historic District property his company owned at the jumping junction where the renowned State and Rush streets merge in Chicago.

Still, questions have been raised over where the money has been coming from for Aspen's newest predominant commercial landlord. In 2007, while still working in Chicago, he bought a $14 million mansion on what has become known as Aspen's "Billionaire Mountain," home to Bezos family members and Walmart heiress Ann Walton, among many high rollers.

“I control all of the properties,” Hunt told Aspen Public Radio. “I make all the decisions for them. Do I have bankers? I do. Do I have investors? I do.”

Hunt describes his backers as "friends" and "family."

2nd largest commercial deal in Collier

In the three decades since he founded M Development, it hasn't always been a smooth ride, with some transactions, plans and tax schemes fizzling a bit during the Great Recession, ending up in litigation or receiving push back from residents.

The Times reported this month on proliferating "Evict Mark Hunt” stickers on Aspen buildings, chairlifts and Kleenex dispensers in lift lines as some have grown frustrated with the pace or lack of construction on too many of the nearly 20 properties he has acquired.

It might be a little reminiscent to the lead up of Alfie Oakes opening his long-delayed market on Immokalee Road near I-75 that missed its planned debut by some five years. But in the case of Hunt, who has been pleading for patience, multiply that one Oakes store by a few digits, and you've got a massive construction zone with an array of boarded up or dormant buildings with debris in the heart of downtown.

A decade also has passed since the Naples close of the once popular St. George and the Dragon that, with its dim lights and wood-paneled walls, operated for more than 40 years. In 2017, the now empty parcel had received rezoning and other approvals for a three-story structure featuring more than 50,000-square feet of restaurants, clothing stores and other retail, plus a parking garage open to the public.

Hunt and Lobell aren't elaborating on whether they'll continue with that piece of the plan. In a statement, M Development confirmed that it does want a mixed-use residential-retail endeavor on four acres along the 900 and 1000 blocks of Fifth Avenue South but had no other details. Equity firm Madison Realty Capital indicated it provided a $30 million loan to assist M Development.

According to public records, the amassed addresses include:

• 975 6th Ave. S.

• 936 5th Ave. S.

• 1074 5th Ave. S.

• 1050 5th Ave. S.

• 1010 5th Ave. S.

• 1041 6th Ave. S.

• 590 11th St. S.

Lobell, meanwhile, has already been making his own mark in Southwest Florida.

The $25.4 million for the Wild Pines of Naples apartments ranked Lobell's GMF Capital as Collier's second largest commercial real estate buyer in the 12 months through June 2021, according to Lee & Associates research. An owner of the Venetian Gardens housing in Fort Myers, GMF been purchasing other complexes on the Peninsula including in Brevard, St. Lucie, Pinellas and Hillsborough counties.

With offices in New York, Baltimore and Zurich, the Yale-educated Lobell began moving his headquarters late last year from the Big Apple to Miami Beach, where he and several staff members have purchased homes.

Whatever, and whenever anything happens with the parcels, a traffic study is often part of the process. The question of congestion came up with reviews related to the Marriott emerging at the city's most clogged intersection at Goodlette-Frank Road and U.S. 41.

It's not much better three blocks away, as observed this past week by Sus Allen, who drives all over Collier and Bonita Springs due to her job.

"The other day I made the mistake of taking Fifth Avenue South out of downtown around 2 p.m.," Allen said. "From Eighth Street to Ninth Street (U.S. 41), it took four light changes to go that one block because of the main traffic on 41 taking the (left) turn to the East Trail backed up all the lanes so that when it was (our) turn to get onto the East Trail, there was zero room."

With apologies to Brando, Stella-a-a-a!

About four blocks north of the Hunt and Lobell sites, Brookline was beginning construction of the three-story Stella Naples enclave that's to feature 10 residences and a collection of shops and offices at 82 9th St. S., where the two-star Sea Shell Motel had been.

Even though sales just began in December, seven of the home units with their California coastal and modern farmhouse influences had already been sold by mid-month, said Sarah Hudgins, Stella’s selling agent. Prices start at $2.5 million, with the largest at almost 3,000 square feet.

“The fact every residence features a private rooftop deck, which the owner can customize to fit their specific lifestyle, has been one of our major selling points,” Hudgins said. “The other is our downtown location."

Targeted completion should be by summer of next year.

Aldi, Take 2

After delaying its newest Naples opening earlier this month due to some logistic matters, Aldi is back on track.

Thursday's the big day with a 9 a.m. official debut coming after a ceremony that begins a half-hour earlier at 8660 Addison Place Drive, near where Immokalee Road and Collier Boulevard intersect.

That'll now make a baker's dozen for Collier and Lee counties. 

“We have served this community for more than five years," said Chris Hewitt,  regional vice president.

The chain operates more than 2,100 stores in 37 states, with the booming Sunshine State at the forefront for expansion.

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Destroying happiness

Mental health and wellness company 1AND1 Life noted a study by Swiss economists that reached a jolting, but simple conclusion: Long commutes destroy happiness.

And if you need even more evidence of how the COVID era has changed society, new data shows a stunning number of workers who no longer drive to the job.

Analyzing government data, the company found that 2.4 million Floridians who previously spent more than an hour a day getting to the office prior to the coronavirus era now work from home. It says that will go a long way toward helping reduce obesity, high blood pressure, stress and fatigue.

The organization also did a survey of Americans, asking what the change has meant to them, and found that nearly 60% said the biggest benefit has been more time with family. For 10%, it was the ability to work out more.

And how are people using these extra minutes? Nearly half say they're getting additional needed sleep.

So with fewer folks saying they're on the road, one would think perhaps there's less traffic. But maybe not if you live in one of the fastest growing areas of the country. And this is snowbird season, where there are a few who jump into rush hour to get to that golf game, yacht excursion or jet ride, as some of you shared on Facebook this past week.

"Used to be an easy 40-minute drive. Now it’s an hour or more," said Lehigh Acres resident Ryan Gonzalez, a sous chef in Naples who despite the difficulties, understands the value of tourism. "Without these people, we don’t make money, but this season is a different animal."

"Went from 30-35 minutes to an hour-plus when season started," said Dylan Znidarsic, a property manager who goes between the Immokalee Road and Colonial Boulevard exits on I-75. "If I don’t leave work before 4, it takes me almost two hours to get home."

"Normally, it's about 10 minutes from the bridge to 41," said Elle Hunt, of Luxury Real Estate Group, referring to Marco Island's Judge S.S. Jolley link. "Now that’s 45-60 minutes-plus at peak times. Even aside from peak, it’s 25 minutes without any accidents."

"I live 29 miles from my job, and I can get home in 45 minutes going the normal way in off season. Right now that way is over 2½ hours so I have to go the longer way, and it is 42 miles and still takes me two-plus hours," said Lehigh Acres resident Joey Russell Neiter, who works at the Smugglers Cove condo on Fort Myers Beach. "I love my job, but this is crap."

Based at the Naples Daily News, Columnist Phil Fernandez (pfernandez@gannett.com) writes In the Know as part of the USA TODAY NETWORK. Support Democracy and subscribe to a newspaper.