Collier Habitat for Humanity buys Davis Boulevard's Mystique

BUYER: Habitat for Humanity of Collier County, Naples

SELLER: Waterways Joint Venture VII

PROPERTY: 8684 Davis Blvd., Naples

PRICE: $1.6 million

PREVIOUS PRICE: $6.25 million, July 2006

LAW FIRM ON DEED: Porter Wright Morris & Arthur LLP, Naples

PLANS, DESCRIPTION: Habitat for Humanity of Collier County purchased the 15.68-acre undeveloped Mystique residential community for $1.6 million.

The price equated to $102,041 per acre.

The property on Davis Boulevard was acquired in a lender-approved short sale, according to Nick Kouloheras, executive vice president of land development for Habitat for Humanity of Collier County.

“It's approved for 180 home lots, although we will more likely build 120 lots,” Kouloheras says. “This gives us another two to three years of inventory.”

The non-profit is currently weighing its options for the property and will most likely start work there in the next two to four years.

Rich Sommerville, director of the land division of LandQwest Commercial, represented the buyer.