This Week in the 239
Hi, it's Jeremy. Mortgage rates eased to 7.32% this week, Naples Airport landed a nonstop to Charlotte, and M/I Homes is lining up more than 500 new homes in Collier County. Over in Estero a 355-unit apartment plan hit a speed bump at Coconut Point, and a cabaret-and-dinner-show venue is aiming for a November opening in Bonita Springs.
⚡ The 239 in 60 Seconds
📉 Rates ease: The 30-year fixed averaged 7.32% this week, down from 7.40% last week and up from 6.19% a year ago (Freddie Mac, Oct. 22).
💡 Marco Island's math: The city's own analysis estimates residents would save about $10 a month under Amendment 3, with every city department facing a 14% cut, according to WINK News. Those are the city's estimates, not independently verified.
✈️ Direct to Charlotte: American Airlines starts two daily nonstops from Naples Airport to Charlotte on Dec. 2, per WINK News.
🛣️ I-75 widening hearings: FDOT holds an in-person hearing Oct. 27 and a virtual one Oct. 28 on adding lanes along about 21 miles of I-75, with comments due Nov. 10.
🍔 Whataburger in Estero: The chain's second Southwest Florida restaurant opened Oct. 22 with 158 seats, according to Gulfshore Business.
New Around the 239
🎭 Voulez-Vous cabaret lounge targets a November opening in Bonita Springs → [Source: Gulfshore Business, via Tim Aten]
🎬 Update: Mercato signs a lease with Paragon for the vacated cinema space → [Source: Gulfshore Business] The 11-screen cinema is now expected in early 2027, versus the Dec. 18 or early January target we noted last issue.
🏡 M/I Homes to build 500+ homes at Brightshore in Collier County → [Source: The Naples Press]
🏗️ Estero board pauses 355-unit Coconut Point apartment plan again → [Source: Gulfshore Business]
🛍️ Fifth Avenue South shuffles longtime tenants as buildings change hands → [Source: The Naples Press]
🍝 Two Fifth Avenue South restaurant projects, Riva and Zanu, await a final building permit → [Source: The Naples Press, via Tim Aten]
The 239 Market: This Week's Market Pulse
No new local market data is available this week. The Naples Area Board of REALTORS (NABOR) and the Coconut Coast REALTORS (COR) have not yet released their latest monthly reports, and we expect both boards to publish next week. We'll bring you a full Market Pulse update in next Friday's issue.
In the meantime, here is the one sale that stood out locally: the owner of the Cypress Cove senior living campus paid $2.2 million for the former Ruby Tuesday at 9001 Park Royal Drive in south Fort Myers (Lee County), per Gulfshore Business. That is $1 million less than its March 2019 price of $3.2 million, and no new use has been designated.
Jeremy's Take: Mortgage rates ticked down but remain well above last year, so buyers are still negotiating hard. I'm watching for next week's board reports to see how that is showing up in prices and inventory. M/I Homes' plan for more than 500 homes at Brightshore, with anticipated starting prices in the high $300,000s and low $400,000s, is one more sign that new supply is on the way.
30-year mortgage rate: 7.32%, down from 7.40% last week and up from 6.19% a year ago. [Source: Freddie Mac PMMS, Oct. 22]
Curious What’s Selling Near You?
See What's Happening in Your Neighborhood:
📍 239 Community Spotlight - Pine Ridge
Tucked between Park Shore and Old Naples along the Gulf, the Moorings is one of central Naples' most sought-after addresses. Tree-lined streets and generous lots give it a quiet, residential calm, with more breathing room than Old Naples and a far less dense feel than Park Shore.
Homes range from single-family residences on spacious lots to low-rise condominiums, with a limited number of Gulf-front and Gulf-view properties along the shoreline. Owners also have access to Moorings Beach Park, the private beach club that sets the neighborhood apart from comparable inland communities.
You're minutes from Venetian Village for dining and shopping, with Fifth Avenue South, Third Street South and Waterside Shops a short drive away. It is less walkable than Old Naples, so it suits buyers who prize privacy and space over village strolling.
This Week in Naples & Bonita Springs
✈️ Naples Airport lands American Airlines nonstops to Charlotte → [Source: WINK News] Two flights a day start Dec. 2.
⚖️ Update: Naples sues its airport authority over the city-owned land → [Source: WINK News] After lease talks and mediation failed, the city sued the authority and the Collier Supervisor of Elections, arguing its $1-a-year lease through 2068 is invalid because a new state law has voters, not the city council, electing authority members. Two of the five seats are on the Nov. 3 ballot, and the suit seeks to stop that election. We covered the earlier settlement rejection two issues ago.
📊 Collier visitors spent about $169M in August, up 7.8% → [Source: WINK News] (Headline only, the full article would not load. A companion WINK report cites 241,300 visitors, up 6.2%, with paid room nights down 1.7%.)
🗳️ Lee County voters will decide how county commissioners are elected → [Source: WINK News] Today all five commissioners appear on every Lee voter's ballot; the measure would have only voters within each district elect their own commissioner, starting in 2028, and needs a simple majority.
🧬 Cencora to acquire Fort Myers-based American Oncology Network in a deal worth up to $2.4B → [Source: Gulfshore Business] The deal still needs regulatory clearance and shareholder approval, and the companies haven't detailed any effect on Fort Myers operations.
🌪️ Four years after Ian, barrier islands rebuild differently → [Source: Gulfshore Business] (Headline only, not opened this pull.)
Amendment 3 update: Two new local data points surfaced this week. The City of Marco Island's own analysis estimates residents would save about $10 a month and that every city department would face a 14% budget cut, with school taxes (the largest share of a bill) unaffected and a likely shift from taxes to fees, per WINK News. Those are the city's estimates, not independently verified. The Naples Press reports that NABOR's board voted to endorse the amendment, the Greater Naples Chamber has taken no position, and the Florida Sheriffs Association is among the opponents. Disclosure: I'm a Realtor, and NABOR and Florida Realtors back the measure. This is information, not a recommendation on how to vote. Voters decide Nov. 3 and it needs 60% to pass; for your own numbers, check with your county Property Appraiser or a tax professional. Earlier coverage: our explainer and last issue's poll roundup.
Good to Know
🛣️ I-75 widening public hearings: FDOT's project would add lanes (including auxiliary and express lanes) along about 21 miles from Golden Gate Parkway to Alico Road. In-person hearing Tue., Oct. 27, 4 p.m. (formal presentation and verbal comments at 4:30) at Vanderbilt Presbyterian Church, 1225 Piper Blvd., Naples; virtual hearing Wed., Oct. 28, 6 p.m., with advance registration. Written comments must be received or postmarked by Nov. 10. - Wink News
🔧 Home Tip of the Week
Give Your A/C Some Fall Attention
Even in Southwest Florida, the system that works hardest all year deserves a checkup before the cooler, drier months set in. A few simple steps:
Replace the air filter. Check it monthly and swap it at least every one to three months, or sooner with pets or allergies. A clogged filter makes the system work harder and can reduce airflow.
Flush the condensate drain line. Humidity makes drain lines prone to algae and clogs. Pouring a cup of distilled white vinegar into the access port is a common maintenance step. Check your system's manual first, and make sure the overflow pan is dry.
Clear around the outdoor unit. Trim plants back so there are a couple of feet of open space on all sides, and gently rinse off debris and grass clippings.
Check your thermostat settings. If you travel or spend part of the year elsewhere, set a humidity-aware setting rather than turning the system fully off, since closed-up homes can build up moisture.
Schedule a professional tune-up. A licensed HVAC technician can check refrigerant, coils and electrical connections.
Check with a licensed HVAC professional for guidance specific to your system.
☀️ Weekend Weather
Per the National Weather Service point forecast (issued 3:02 p.m. CDT Oct. 21):
Saturday: High near 84°F, slight chance of showers after 1 p.m. Northeast winds around 14 to 18 mph, with gusts up to about 32 mph.
Sunday: High near 83°F, chance of showers and thunderstorms after 1 p.m. Northeast winds around 18 to 24 mph, with gusts up to about 39 mph.
📅 5 Things to Do This Week
Stone Crab Festival: Fri., Oct. 23 (5 p.m.) through Sun., Oct. 25 at Tin City; Sat. runs 10 a.m.-9:30 p.m. with free admission, live music, vendors and food trucks (City of Naples).
3rd Annual Paws Fest: Sat., Oct. 24, 9 a.m.-noon, Baker Park; free, with 30+ pet vendors, food trucks, and free microchipping and nail trims (City of Naples).
Florida Everblades vs. Atlanta Gladiators: Fri., Oct. 23, 7:30 p.m., and Sat., Oct. 24, 7 p.m., Hertz Arena, Estero (EventsNaples).
Classic Skynyrd Live (tribute concert): Sat., Oct. 24, 7:30 p.m., Arts Bonita, tickets $45-$55 (EventsBonita).
Halloween Stroll: Fri., Oct. 23 and Sun., Oct. 25, 5-7:30 p.m., Riverside Park, Bonita Springs (EventsBonita).
Looking ahead: Opera Naples' final La Bohème performance and the Southern Fresh Farms fall festival in Fort Myers (Oct. 31 and Nov. 1) fall after this issue's window, per Florida Weekly's guide.
👀 What We're Watching
NABOR and COR are both expected to release their latest monthly reports next week, and we'll have a full Market Pulse update in next Friday's issue.
The 239 Five
Restaurant: Buzz's Lighthouse, 9180 Gulf Shore Drive, a family-owned spot across from Vanderbilt Beach known for fresh seafood and its Grouper Reuben, per Gulfshore Business. The Dugan family opened it in March 1980, and it does not take reservations, so expect a wait in peak season.
Event: FC Naples vs. Spokane Velocity FC, Sat., Oct. 24, 7 p.m., Paradise Coast Sports Complex.
Local fact: Walter N. Haldeman founded Naples in 1885, and the first two structures, in 1888, were a 600-foot pier and the 16-room Hotel Naples facing it, per the Naples Centennial history.
Outdoors: The Naples Yard and Garden Show runs Sat. and Sun., Oct. 24-25, 9 a.m.-4 p.m., on Immokalee Road, per Florida Weekly's weekly guide.
Worth knowing: Pepper Ranch Preserve (Conservation Collier) reopens to visitors in November, Fridays and non-hunt Saturdays and Sundays, 7:30 a.m.-4 p.m.; access is free by carload with a reservation, per Florida Weekly. This year's sunflower viewing dates there are sold out.
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Have a great weekend!
Jeremy
