3 To Know: Beachfront redevelopment in Naples; SWFL expenses among highest in the nation
1. Beachfront redevelopment site on 'Miracle Mile' in Naples fetches more than $100M
A trophy beachfront redevelopment site in Naples has fetched more than $100 million.
In a partnership, BH Group and The Kolter Group, both based in South Florida, have purchased the Bahama Club, a mid-rise condominium complex, overlooking the Gulf of Mexico.
The purchase price: $102.6 million.
Built in the mid 1950s, the complex – at 1121 Gulf Shore Blvd. N. – is ripe for redevelopment.
After it took a hit from Hurricane Ian, the owners of the 36 units in the four-story development agreed to pursue a sale.
JLL Capital Markets served as the sellers' agent for the Bahama Club Co-Op.
The site is within steps of the beach and the new ultra-luxury Naples Beach Club hotel and residences, which will operate under the prestigious Four Seasons brand.
The property, spanning 2.5 acres, includes 220 linear feet of be Located in Coquina Sands, the land sits along a stretch of Gulf Shore Boulevard North that has been dubbed the "Miracle Mile," after seeing so much devastation from Ian. – Laura Layden/Naples Daily News
2. SWFL expenses among highest in the nation; Fort Myers rated at No. 3
Having to commute to work can be challenging in Southwest Florida. Add the expenses for getting to and from work and the nightmare gets worse.
In a study released by Coast, a financial services platform, data showed nine out of the 10 most expensive cities in the U.S. for car commuting are located in Florida.
The Fort Myers market – which includes Cape Coral and Naples – is ranked No. 3, according to the study, which used data from the U.S. Census.
The analysis looked at the average commute time to work in minutes for car and public transit commuters in 100 of the largest U.S. cities. Miami is ranked No. 1 and is followed by Daytona Beach.
The reasons for the high-ranking for the Fort Myers market and the other Florida cities: longer commutes, above-average gas prices and high car insurance premiums in the Sunshine State.
With annual commute costs under $1,500, Boise, Idaho, Dayton, Ohio, and Cleveland are the three least expensive cities for car commuting due to shorter commute distances and relatively low car insurance premiums. – Mark H. Bickel/Naples Daily News
3. Celebration of life and funeral planned to honor longtime Naples attorney John Passidomo
A celebration of life for well-known Naples attorney John Passidomo will be held later this month.
The event is planned from 4 p.m. until 7 p.m., April 26, at Baker Park, located along the Gordon River, at 50 Riverside Circle.
The celebration will be followed the next day by a funeral at Saint Ann Catholic Church, off Ninth Avenue South. The formal mass will be held April 27 at 11 a.m.
All are welcome to attend.
Passidomo, the husband of Florida Senate President Kathleen Passidomo, died last week, following a hiking accident at a national park in Utah. He was 72.
His sudden death sent shock waves through the city – and beyond, breaking the hearts of the many lives he touched over his lifetime.
“John was the love of my life,” Kathleen shared in a text to the Naples Daily News on Monday. “An amazing husband and father. I miss him every second of every day.” – Laura Layden/Naples Daily News
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