Community closes in on $100M sales target

NAPLES — Naples Reserve, a 688-acre master-planned community of Southern Coastal-inspired attached villa, single-family and custom estate homes, recently surpassed another milestone: $90 million in home sales to date.

The $90 million mark comes some six weeks after Naples Reserve officials announced the community surpassed $50 million in sales. In total, 186 homes have been sold in six of the community's neighborhoods, according to a release.

Egret Landing, which includes a collection of one- and two-story homes with three- to four-bedrooms and up to three-and-a-half baths, is the most popular neighborhood in the community, the release adds. Nearly 40% of the buyers have made purchases in that neighborhood, where builders include Ashton Woods and D.R. Horton and prices start in the mid-$300,000s.

The developer behind Naples Reserve is iStar Land & Development, part of New York-based iStar, a publicly traded real estate investment trust. The company has financed and invested in over $10 billion in residential projects since 1993.

“Naples Reserve visitors are intrigued by the idea of a lakefront lifestyle,” says Don Mears, vice president/land and development with iStar, in the statement. “But when they see our distinctive home designs and quality construction and learn about our reasonable homeowner association fees, they become even more interested in being homeowners.”