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BUYER: R&B Naples Holdings 3 LLC (principal: Jon Rubinton), Naples
SELLER: Scripps Media Inc.
PROPERTY: 1075 Central Ave., Naples
PRICE: $8.5 million
LAW FIRM ON DEED: Coleman Yovanovich & Koester PA, Naples
PLANS, DESCRIPTION:
Naples developer Jon Rubinton and an undisclosed partner purchased the 8.88-acre former Naples Daily News headquarters property for $8.5 million.
The price equated to $957,207 per acre.
The cleared property borders Central Avenue and 10th Street South and 12th Street North. The Naples Daily News relocated to a new North Naples building in 2009.
Rubinton says he and his partners are in the planning and design stages to create a mixed-use project on the site called 1075 Central.
“We are considering either rental apartments or condos; there's a strong need in the city for both,” he says. “Based on the zoning, by right we could have about 100 units. I really like that area of town; I feel it's in the middle of a renaissance. With projects like the new 20-acre Baker Park being developed, I see that Baker area connecting this area to Fifth Avenue.”
At this early stage in the development, the partners are considering developing multiple restaurants as part of the four-story project. They hope to start construction this year.
The partners also own a one-acre parcel across Central Avenue from this site.
Matthew Kragh of Naples-based MHK Architecture & Planning is designing the project, and Rubinton's Lotus Construction will be the general contractor.
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