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Luxury homebuilder buys prime parcel for $34M


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  • | 1:43 p.m. June 15, 2016
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NAPLES — London Bay Homes acquired 55 acres on Golden Gate Parkway for $34 million, one of the last parcels of land in the heart of Naples.

The land adjoins the Naples Grande Golf Club on Golden Gate Parkway between Airport Pulling Road North and Livingston Road. The parcel is part of the Grey Oaks development near downtown Naples. London Bay plans to build 250 homes with total projected revenues of more than $300 million, the company says in a statement.

“This transaction represents a significant and exciting opportunity for our company, as this parcel is one of the very last and best large-scale properties in the heart of Naples,” says Mark Wilson, president and CEO of London Bay Homes, in a statement. “Later this summer, we will announce plans for the project, which will include residences with spectacular lake and golf course views.”

Based in Naples, London Bay Homes builds new luxury custom homes priced from $1 million to more than $10 million in upscale neighborhoods and communities. The company also builds luxury homes on individual lots from Naples to Sarasota.

 

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