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The Business Observer is the leading provider and most authoritative source of business and economic information affecting the Florida Gulf Coast from Tampa Bay to Naples.
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News
Work underway at Lee project that includes 600 apartments, 190-room hotel
3+ day, 13+ hour ago (165+ words) Construction is underway on the first phase of a new mixed-use development in Estero after the developers secured an $81.5 million construction loan. The unnamed development is at 23281 Lynden Drive, across from the Coconut Point mall. When complete, FRP Development Corp....
$197M construction loan secured for Naples condo
3+ day, 10+ hour ago (207+ words) Business Observer $197M construction loan secured for Naples condo Two Florida developers have secured $197 million in financing for a high-end condominium on the Gulf in Naples. Kolter Urban and BH Group obtained the construction loan to support the development of Olana…...
Sarasota County faces four Live Local Act lawsuits, at least 4,000 units at stake
1+ week, 4+ day ago (1287+ words) Key takeaway: Sarasota County has been sued four times in recent months by four separate development entities alleging the county, and in two cases, individual commissioners, violated provisions of Florida's Live Local Act. Core challenge: Live Local was written to…...
Naples Hospice buys Fort Myers property for $3.3M, plans new facility
1+ week, 4+ day ago (244+ words) Avow Real Estate Inc., the real estate arm of Avow Hospice, has bought a 2.78-acre property in Fort Myers. LSI Companies brokered the sale of the parcel, at 14590 Hope Center Loop in the Hope Preserve development. Avow Real Estate paid…...
Medical office complex in Bradenton sells for $8.35M
1+ week, 4+ day ago (239+ words) Two buildings in Bradenton have sold for a combined $8.35 million, according to SVN Commercial Advisory Group, which brokered the deal. Situated on a 4.2-acre parcel, the properties are 4351 and 4401 Cortez Road W. The seller is Zinnia Center VI, a Lakewood Ranch-based…...
Fort Myers waterfront house listed for $13 million
1+ week, 5+ day ago (322+ words) A Fort Myers house on the Caloosahatchee River has been listed for sale. The asking price: $13 million. The 5,400-square-foot house on 0.54-acres is at 12798 Dennis Drive and, according to a search on Realtor.com, one of only three with a…...
Naples condo building first in city to delpoy new flood protection
1+ week, 6+ day ago (345+ words) It took nearly four years and $15 million for one beachfront condominium to recover from the damage left behind when Hurricane Ian decimated Naples in September 2022. Now, the Allegro Condominiums is confident a new AquaFence flood protection system will ensure that…...
Developer secures financing for $39M Pasco affordable housing project
2+ week, 5+ day ago (251+ words) McDowell Housing Partners, an affordable housing developer and investment company, has closed on the financing for and has started construction on the second phase of a $38.9 million development in Pasco County. The project is Ekos at Bayonet Point II, part…...
Tampa homeowners turn to backyard units as housing costs climb
3+ week, 1+ day ago (646+ words) For years, Tampa homeowners hoping to turn a backyard cottage, garage apartment or detached “in-law suite” into housing for anyone outside the family had few options under city rules. A zoning change approved in 2024 opened that possibility to more neighborhoods....
Fort Myers medical office sells for $1 million
3+ week, 2+ day ago (116+ words) A 4,100-square-foot medical office condominium has sold in Fort Myers. The property is Suite 1000 at 6150 Diamond Centre Court off of Metropolis Avenue. The buyer was local doctor Khalid Sabha, who paid $1.17 million, according to the Pittsburgh, Pennsylvania-based commercial real estate…...