Naples, developer settle lawsuit over luxury condo, retail development

A stalled development set for the gateway to Naples’ Fifth Avenue shopping district may be moving forward after the developer and the city reached a settlement on a lawsuit filed last year.

According to the city of Naples and the developer, M Development, the parties have reached an agreement that includes doing away with underground parking and agreeing to forego big box retailers.

The property is on Fifth Avenue between the 900 and 1000 blocks and is set to be turned into a mix-use project that will include 50 luxury condominiums and 75,000 square feet of boutique retail space. There will also be a tree covered alley to “create retail and pedestrian engagement.”