Canadian builder buys Naples tract for $8.7M

Mattamy Homes, a Canadian residential builder that has been among the most active along the Gulf Coast since the end of the last decade's economic recession, acquired a Naples tract for $8.7 million.

The 37.25-acre site, across from the Naples Botanical Gardens at 4580 Bayshore Drive, had been the site of the former Bayshore Club Apartments, which contained 200 units.

That project was razed in 2010 to make way for Arboretum Village, a mixed-use project that never came to fruition.