Mystique Coming to Pelican Bay
Ultra luxury high-rise condominium tower Mystique will soon be built in the Pelican Bay development of Naples by Gulf Bay Group. The 22-story, 87-unit ultra luxury high-rise condo will sit between The Ritz Carlton in Pelican Bay and Port Royal. It is one of the last two remaining developable parcels in Pelican Bay. The new tower is still in the initial planning stages, and details have not yet been disclosed.
Gulf Bay developers of Naples have been around since 1986. They also developed residential communities in Naples, such as Fiddler’s Creek. The Gulf Bay group has a formidable reputation as developing high-rise condominiums towers along the Gulf of Mexico in Naples for 30 years and understands the needs and wants of the luxury market in Naples. Details of the new tower have not been released. Prominent New York private equity firm, Kohlberg Kravis Roberts, have paid $80 million in cash for the high-rise condo site in Pelican Bay development in Naples, the company announced in late May. This is the latest news recently in a sudden burst of activity in the long inactive condo tower real estate market in Southwest Florida. Last month, site work began on condo tower development Kalea Bay in North Naples. This is the first project in a long time in Southwest Florida, since 2007.
As the real estate market is improving in Lee and Collier Counties, three other developers have signaled their interest to build condo towers in the Naples region. The former Cypress Club, a two-tower high rise site in downtown Fort Myers, was bought by a Miami-based developer and has plans to begin sales for a luxury condo next year with construction set to start in 2017. The Naples-based Ronto Group plans 26-story Seaglass in Bonita Bay, as announced last month. Construction is scheduled to start either later this year or early 2016. WCI Communities announced in November plans to build 21-story tower Altaira at The Colony Golf & Bay Club in Bonita. Construction is scheduled to begin in August.
Here is a resource to learn more about Mystique Pelican Bay condos