Mixed-Use Landmark “The Avenue” Breaks Ground at Iconic Naples Site

A major new development is underway in downtown Naples that aims to reshape one of the city’s most historic and visible locations. Construction activity has begun on The Avenue, a high-end mixed-use project rising on property that once housed the beloved St. George & The Dragon restaurant and other longtime local landmarks. This development marks a significant shift in land use at a gateway to Naples’ cultural and retail core as the city continues to evolve.

From Historic Spot to Urban Destination

The Avenue sits on a 4.3-acre block near Fifth Avenue South and 9th Street, within walking distance of Naples’ signature shopping, dining, and arts districts. The site was long anchored by St. George & The Dragon, a restaurant that served generations of locals and visitors before closing in 2012. In the years since, the property saw interim uses and vacant parcels, but recent demolition cleared the way for The Avenue’s construction, signaling a new chapter for this central downtown spot.

The project is being developed as a mixed-use urban destination that blends luxury residences, high-end retail and dining, and pedestrian-oriented streetscapes designed to bring fresh energy to downtown Naples. With nearly 75,000 square feet of curated retail space and 50 luxury residences planned atop boutique commercial elements, the development aims to create a vibrant live-work-play environment at the heart of the city.

A Vision for Downtown Naples

The Avenue seeks to position itself as more than a collection of shops and homes; its design emphasizes walkability, public open spaces, and connectivity with existing downtown assets. Wider sidewalks, landscaped plazas, and pedestrian breezeways are planned to encourage foot traffic and create communal spaces that link Fifth Avenue South with adjacent districts and Naples Bay beyond.

The residences within The Avenue are expected to attract buyers looking for refined downtown living with easy access to Naples’ cultural, culinary, and waterfront amenities. The mix of retail and residential elements also reflects broader trends in urban development, where convenience and lifestyle drive demand for walkable, multifaceted neighborhoods.

What It Means for Naples

For Naples, The Avenue represents a bold reinvestment in downtown’s infrastructure and appeal. As the city continues to build its reputation as a year-round destination for luxury living and refined experiences, large-scale developments like this one help diversify the local real estate landscape and reinforce Naples’ competitive edge in Florida’s high-end markets.

Economically, the project is anticipated to bring construction jobs during the build-out phase, followed by permanent employment opportunities tied to retail, hospitality, and property management once tenants and residents move in. The addition of high-end retail and luxury residences also has the potential to draw regional visitors and new residents, boosting local business activity and foot traffic in the core downtown area.

What’s Next

With demolition completed and groundwork progressing, The Avenue is expected to move into vertical construction in the coming months. Officials and developers are eyeing a phased opening over the next two years, creating anticipation among locals and investors alike for how the development will integrate with Naples’ storied downtown fabric.