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NAPLES — Collier Enterprises is moving forward with the development of its Sabal Bay property in south Naples, filing PUD amendments as part of the re-permitting process on its 2,400 acres of land.
The Sabal Bay planned community was initially approved in 2005, but the economic downturn halted the project's development. Aside from a handful of businesses, the land is essentially undeveloped.
Recent improvements to the real estate market are motivating Collier to move forward with its development plans.
“Recent home sales in neighboring Verona Walk and Lely Resort are strong,” says Pat Utter, vice president of real estate for Collier Enterprises, in a prepared statement. “At the current pace, new home sites will be in short supply soon. These positive trends, combined with the limited availability of developable land in south Naples, have encouraged us to begin planning for construction in two to three years.”
Collier describes the new re-permitting filings as “the first step in a 12- to 18-month re-permitting process” in its release.
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