Late last week Raymond Lutgert, a prominent Southwest Florida developer, passed away at age 90. He purchased 600 acres in the early 1960′s that became the upscale Park Shore area of Naples, and the Lutgert Companies are responsible for luxury high-rise condos and homes that stretch up and down the southwest coast. He had a profound impact on real estate development in SW Florida and will be missed.

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Malibu Lakes, a 356 unit lakefront apartment complex in North Naples, sold for $32m this week. It was originally purchased by a developer for $83m in October 2005, with the intention that it would be converted to condominiums. It was one of the largest foreclosures seen in Collier County. Whoever purchased the property negotiated directly with the lender to complete the sale.

The purchaser says the units will remain rentals and has no plans to complete the conversion.

condo conversion · naples apartments · naples condos

In a blow to land based casino gambling, the Florida house has declared an impasse in negociations with the Seminole Indian Tribe and has asked the US Department of Interior who oversees Indian gaming to halt all games. Last year the Seminoles brought Florida’s first land based Class 3 slot machines and table games.

Originally Governor Christ approved the deal in summer 2008, which was later thrown out by the Florida State Supreme Court because he lacked the authority to do so without explict consent of the legislature.

The casinos are located in Hollywood, Immokkee, and Tampa.

Seminole Tribe

I never watch Gator football being from South Florida, and because the Gators never lose. But last nights game was exciting – for a minute everyone thought the Arkansas Razorbacks may actually beat the Florida Gators with a field goal at home for the first loss of the season… maybe even first loss in years… and a homecoming game. Turns out they did a field goal attempt with a minute left, missed, and botched the game up.

So the game was tied 20-20 and then the Gators come in the last 10 seconds and make a field goal, bringing the final score to 23-20.

I bet my Gainesville real estate friend, Allison Ables, was freaking out the entire game. I would have loved for them to finally lose a game. Haha. Well. Maybe I’m just bitter that my kids didn’t get into UF, but if yours do, you should use Allison to buy a fine piece of Gainesville FL real estate or maybe even a few Gainesville condos. Turns out the best school in Florida is still getting better.

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