CGU is Excited to Join the 850 Central Avenue Groundbreaking in Old Naples!

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Featured article in the “Naples Daily News.” October 16, 2019.

Construction begins today of Eight Fifty Central, a planned mixed-use commercial development with a 22-home community at Central Avenue and Eighth Street South, a block off U.S. 41.

“The site work will start this week and the foundation the following week,” said Chip Youmans, president of the 15-year-old Platinum Developments. “Demolition has taken place.”

Those involved in the three-story structure on less than an acre of land include Platinum, the Dawn McKenna Group, MHK Architecture and Planning and Connor & Gaskins Unlimited.

“I’m extremely excited for this new project in Old Naples,” Youmans said. “I’ve assembled an amazing talented group of local professionals to build and design Eight Fifty Central. It’s a small boutique building that’s west of 41 and is only seven blocks from the beach and highly accessible to shops, entertainment and all that Naples has to offer.”

Completion of construction, which includes 10,000 square feet of office and retail space, is expected before the arrival of snowbirds in a year or so.

“It will be 12 months from now. So if all goes according to plan, we are hoping by end of 2020,” said Youmans, a Michigan State University graduate familiar with the Northern winter invasion. “We have eight of the units already sold to residents.”

Floor plans consist of two- and three-bedroom condos with square footage ranging from 1,357 to 1,663 plus additional lanai space and 11-foot ceilings, according to a listing by McKenna, which is affiliated with Coldwell Banker Residential Real Estate. The common areas feature a pool, cabanas and roof terrace with a fire pit.

The Zillow listing shows a two-bedroom, two-bath that’s 1,209 square feet selling for $849,000. It was originally listed at $950,000 in November 2018. Other larger units are selling for about $1.1 million to $1.35 million.

 

Youmans’ $25 million-plus project replaces a multi-story office complex and a parking lot that housed a medical practice for almost a half-century.

“We have one office user committed to the commercial space,” said Youmans, who has spearheaded work in Southwest Florida and southeast Michigan. “We are in discussion with several others.”

 

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