'Tremendous opportunity'

Manfred Welfonder and his MW Corp. have been pitching a redevelopment plan for the long-shuttered Colony Beach & Tennis Resort for the better part of a decade.

But thanks to a recently unveiled agreement with the Lutgert Cos., one of Naples' premier real estate firms, MW Corp.'s proposed $200 million revamp of the 18-acre Longboat Key resort is gaining new traction and credibility.

In addition to building some of Naples best-known luxury high-rise residential towers in the 760-acre Park Shore beachfront community and elsewhere — including Enclave and Aria, two of 25 projects containing more than 2,500 upscale units — Lutgert has a long track record of commercial success.