Phoenix-based firm to redevelop and acquire Naples hotel and golf course
A Phoenix-based group agreed to redevelop and acquire the family-owned Naples Beach Hotel & Golf Club, a 125-acre landmark in Naples.
The Watkins family will continue to operate the hotel and golf club as it works with Phoenix-based Athens Group on the redevelopment until 2021, after which Athens Group would acquire the property.
While details of the redevelopment are still being determined, the project will include adding residences to the property at 851 Gulf Shore Boulevard in Naples along the Gulf of Mexico.
The Watkins family has owned and operated the Naples Beach Hotel & Golf Club, the oldest resort in Naples, for more than 70 years.
Naples Mayor Bill Barnett hailed the planned redevelopment, which will preserve the resort’s golf course, allaying concerns among some Naples residents that apartments would replace the 18-hole course.
Source: The Real Deal