Ground has officially broken on The Avenue, a mixed-use residential and retail development along Fifth Avenue South in downtown Naples. The 4.3-acre project broke ground on January 22 and is being developed by APREA, with DeAngelis Diamond serving as the general contractor. The site spans between 5th and 6th Avenues South and 9th and 11th Streets, just east of the Four Corners intersection where U.S. 41 turns toward Miami. The groundbreaking follows a December sales period that generated approximately $20 million in residential transactions.
A ceremonial groundbreaking marked the start of construction, drawing local officials, community stakeholders, and representatives from the development, design, sales, and construction teams. Remarks were delivered by members of the project team, including Any Penev of APREA, Matt Kragh of MHK Architecture, Christine Lutz, Director of New Developments at The Dawn McKenna Group, and Reggie Morgan of DeAngelis Diamond.
The Avenue Groundbreaking. Credit: APREA.
The Avenue Groundbreaking. Credit: APREA.
The Avenue Groundbreaking. Credit: APREA.
The Avenue Groundbreaking. Credit: APREA.
The Avenue is planned as a mixed-use development consisting of 50 residential units and more than 75,000 square feet of retail, dining, and wellness space. The project is designed to extend the pedestrian-oriented character of Fifth Avenue South while creating internal connections to the surrounding Old Naples neighborhood through active ground-floor uses and landscaped promenades.
“This project represents a long-term investment in the future of downtown Naples,” said Andy Penev of Aprea. “We set out to create a place that brings people together, where architecture, street life, and thoughtful design work in harmony to strengthen and elevate Fifth Avenue South.”
Credit: Panoptikon.
Phase One of The Avenue launched sales in March 2025 and includes two- to four-bedroom residences priced from $3.4 million to $7.9 million. Residential units are designed with ceiling heights ranging from 10 to 11 feet, expansive outdoor terraces, and nine-foot sliding glass doors. Interior finishes include Italian-crafted kitchens, stone countertops, and spa-inspired bathrooms.
Credit: Panoptikon.
Phase Two, planned for the 1000 Block, will introduce a streetscape designed by Morris Adjmi Architects. The design draws from European precedents and incorporates limestone and stucco finishes, along with large areas of glazing intended to engage the street level. This phase will add additional retail and dining space, landscaped pedestrian areas, and residential services including concierge operations and a 24-hour, seven-days-a-week doorman.
Credit: Panoptikon.
“Breaking ground on The Avenue marks a new era for downtown Naples,” Christine Lutz, Director of New Developments for The Dawn McKenna Group. “Decembers record sales and seeing the enthusiasm from our team, community leaders, and project partners at the ceremony truly shows the energy and confidence surrounding this development. The Avenue will truly redefine how people live, gather, and experience Fifth Avenue South.”
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