News Summary
A significant wave of construction is transforming Southwest Florida’s commercial and residential sectors, highlighted by new self-storage facilities and an array of mixed-use developments. Key projects include a 934-unit self-storage facility set for Naples and a substantial $30 million mixed-use project in Hillsborough County, among other notable expansions. This growth reflects the region’s robust demand and commitment to enhancing local services and housing.
New Self-Storage Facilities and Commercial Developments Brighten Southwest Florida
Construction is ramping up in Southwest Florida as several new self-storage facilities and commercial developments are set to enhance the region’s infrastructure and provide essential services to residents. A notable project is the upcoming self-storage facility at Winchester Center in Naples, which will feature 934 units and is slated to break ground this month. Developed by Barron Collier Cos. and Metro Commercial, this three-story facility will span 2.8 acres and will be operated by StorQuest. The facility is expected to open late next year.
Upon completion, Winchester Center will boast a total of 41,836 square feet dedicated to commercial space. Residents can look forward to tenants such as Sunshine Ace Hardware, NCH Immediate Care, and various dining options, catering to the growing needs of the community.
Mixed-Use Developments and Retail Options on the Rise
In Hillsborough County, Serenity Capital Management is preparing for a $30 million mixed-use development. This project, anticipated to start construction in late 2025, will include a 65,000-square-foot self-storage facility, 21,000 square feet of retail space, and 10,000 square feet allocated for medical offices on a 9-acre plot. Serenity Capital recently acquired the property, formerly known as the Sun City Mobile Home & RV Park, for $2.6 million.
In Tampa, Hazel Street Capital and CIP Real Estate are advancing with a 331,000-square-foot industrial warehouse development. The site, which spans 26 acres and was purchased for $19.45 million, will consist of three buildings of varying sizes: a 110,000-square-foot building, a 142,000-square-foot building, and a standalone warehouse of 79,000 square feet.
Residential Growth with New Complexes
Recent refinancing has created a buzz around the Easton Riverview apartment complex in Ruskin. Initially built in 2023, this complex encompasses 300 units, with sizes ranging from 821 to 1,487 square feet, and has been refinanced for $56.62 million.
Additionally, GPI Real Estate has acquired 149.5 acres in Wesley Chapel for the development of a master-planned community. This ambitious project aims to introduce 890 residential units paired with 104,000 square feet of commercial space, funded through a $5.5 million acquisition loan.
Community Initiatives and Improvements
On the community development front, the Sarasota Youth Sailing Program is actively seeking a waiver for a planned educational building, proposing a new facility located on city-owned property at Ken Thompson Park. This initiative aims to foster local youth engagement in sailing and maritime education.
In Collier County, officials have approved plans for a substantial 200,000-square-foot self-storage facility on Tamiami Trail East. This facility will replace an outdated U-Haul site and will include minimal retail space dedicated to moving supplies, enhancing convenience for local residents.
New Additions in North Naples
Moreover, a new 10-acre self-storage facility has been greenlit for North Naples, situated at the intersection of Airport-Pulling Road and Orange Blossom Drive. The proposed facility will provide a total leasable area of up to 104,000 square feet, addressing the growing demand for storage solutions in the area.
Finally, Go Store It Self Storage has recently opened a newly developed 503-unit facility at the site of the former Big Cypress Marketplace in Naples. This facility offers secure, climate-controlled storage units designed to meet the diverse needs of residents.
As these developments unfold, Southwest Florida continues to evolve, with more opportunities for both residents and businesses, reflecting a thriving and dynamic community.