New high-rise apartments taking shape in East Naples: What to know

The development Metropolitan Naples is taking shape, with its first high-rise tower well underway.

The first tower ― a luxury apartment development, known as Ascent in East Naples ― broke ground nearly a year ago. Concrete has been poured up to the eighth floor.

Construction won't be finished until next year. There are still seven more floors to go, before reaching the roof.

"We're a little more than halfway there now," said Deane Dolben, president of The Dolben Co., one of the partners in Ascent.

The tower is rising in an area known as the Gateway Triangle, named for its pizza-like shape. It sits between Davis Boulevard to the north and U.S. 41 to the south in East Naples.

Despite construction industry challenges and Hurricane Ian, the project remains on time and on budget, Dolben said.

"Ian didn't slow anything down," he said recently, noting the new construction is far above sea level, which is good for the "long haul," to avoid flooding from future storms.

A topping-off is now only a few months away.

"We are pouring one floor every three weeks," Dolben said. "We will have the building topped out in another three or four months."

Then comes the internal build-out, which will take months to complete, with a high level of detail.

And: No more hotel? Developers seek tweaks to Metropolitan Naples as construction nears

Apartments, big and small

Ascent will offer 270 apartments, ranging from 576-square-foot studios to 2,133-square-foot penthouses.

The building will include a large 6,500-square-foot restaurant and a smaller 1,200-square foot retail store, along with a five-story parking garage. The apartments will start on the third floor, wrapping around the garage, which is built into the development, Dolben explained.

The restaurant space is generating interest, with a decision yet to be made on an operator, he said.

"We are hoping that we will have a restaurant operator who has a space ready to go at the same time the building is delivered," Dolben said, "in the fourth quarter of next year."

The restaurant will be open to all, not just residents.

Amenities for residents will include around-the-clock concierge services. The seventh floor will have an outdoor pool and sundeck, and a dog park, with a washing station.

Other planned offerings: A penthouse level residential lounge, two-story fitness center, co-working spaces and conference rooms, and charging stations for electric vehicles.

Apartments will feature keyless entry and offer expansive views of the Gulf of Mexico. High-end interior features will include quartz countertops and stainless-steel appliances.

Move-ins are expected to start in late fall of 2024. Leasing will begin closer to opening.

Rents are still to be determined, but will be at the top end of the market, reflecting the high quality and uniqueness of the rental community, including its location, views and amenities, which are more like those found at upscale condo developments, or hotels, Dolben said.

"We are excited to meet what we believe is an unmet need in the Naples market," he said.

Part of a larger vision

Metropolitan Naples has been years in the making. At completion, it will have three 15-story buildings on a roughly five-acre site, transforming a high-profile corner.

The larger mixed-use project is the brainchild of Jerry Starkey and Fred Pezeshkan, both longtime local developers, who won the right to purchase and develop the property from the county through a competitive bidding process.

The county has targeted the broader Bayshore/Gateway Triangle area for redevelopment since 2000 — or for more than 20 years.

Starkey and Pezeshkan signed an agreement to purchase the property back in 2016.

County records show a bi-furcated sale by the Collier County Community Redevelopment Agency, with a slice of the property turned over to another partnership, operating under the name Naples Triangle Development JV/Propco LLC and managed by Roger Saad, with SK2 Capital, a real estate private equity and capital markets advisory firm headquartered in Naples.

Ascent is a joint venture involving The Dolben Co., GFI Development LLC and SK2 Capital.

"This is the first high-rise we have built. We have managed others," Dolben said.

He expects the tower to attract a mix of tenants, including wealthy seasonal residents willing to pay rent year-round, and affluent professionals who want to live close to where they work.

Nearby construction: Gulfshore Playhouse's new Naples home with 'magic balcony' taking shape

The Dolben Co. operates two other rental communities in the Naples area: The Coast Townhomes and The Coast Residences in Golden Gate. It's looking to build more projects.

"We really like the market," Dolben said. "We are high on Naples."

The other two buildings planned for Metropolitan Naples haven't broken ground yet.

Sales have begun for the second building, a luxury condo development planned by Starkey and Pezeshkan. Dubbed Aura, it will have 56 residences, with shops and restaurants at street level.

The third building will include more condos, along with more mixed-use development, including restaurants.

This article originally appeared on Naples Daily News: New high-rise tower with luxury apartments taking shape in East Naples