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Business Observer Monday, Apr. 22, 2019 1 month ago

Construction begins on condo-hotel project

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SoCe Flats in downtown Naples could run buyers more than $1,000 per square foot. Building will combine street-level commercial with 18 residential units.

NAPLES — Development is underway on a mixed-use condo-hotel development in downtown Naples with residential units that can range in price from $862 to $1,022 per square foot.

The project, SoCe Flats, a boutique mixed-use property that combines 18 condo-hotel residences and 4,200 square feet of commercial space at 101 Eighth St. S., will be four blocks south of 5th Avenue South.

With sales prices between $575,000 and $900,000 and sizes from 667 to 880 square feet, the residences of SoCe Flats have been approved for short-term rental, according to a statement. The project is a collaboration of Waterside Builders and MHK Architecture & Planning with Clive Daniel Interiors designer Ann Del Pero creating the interiors of three models and real estate firm Compass Naples marketing the project.

“Most condo-hotels require that every unit is finished and furnished the same,” says Joe Belz, founding agent of Compass Naples, in statement. “Not this one. Buyers will have choices in flooring, cabinets, countertops, interior paint and they can furnish as they desire. Pre-construction enables buyers to make their own color and finish selections. Ownership will provide buyers with a unique revenue-generating opportunity.”

The first floor of SoCe Flats will host commercial tenants and a lobby for the residences, the release states. The second and third floors will be dedicated to residential units with an amenity area on the third floor. The building will include electric car charging and on-demand concierge services.

“This property will reflect a luxurious, urban chic style preferred by today’s buyers,” says Mike Assaad of Waterside Builders in the release. 

Completion of construction and owner occupancy is expected in summer or fall 2020. 

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