07/29/2026
Big Step Forward For “The Avenue”!
The Avenue, a luxury mixed-use development planned on Fifth Avenue South in downtown Naples, secured $202 million in financing as the project moves into its vertical construction phase. The financing package includes $109 million in Commercial Property Assessed Clean Energy, or C-PACE, funding and a $93 million construction loan from Bayview Commercial Mortgage Finance. Developed by APREA and JSB Capital Group, The Avenue broke ground in January on the 4.3-acre site of the former St. George and the Dragon restaurant, just east of Four Corners. Plans call for 50 luxury condominiums above 75,000 square feet of boutique retail, restaurants, wellness and lifestyle space spanning nearly two blocks. Construction is expected to continue through 2027, with initial homeowner move-ins anticipated in early 2028. Sales are being handled by The Dawn Mckenna Group of Coldwell Banker Realty, Gulfshore Business reports.