Kolter Urban and BH Group have started work on Olana Naples Residences after securing a $197 million construction loan. Planned for a beachfront setting in Naples, the ultra-luxury condominium community will comprise 12 estate-style homes, each spanning 10,000 square feet. Prices are set to start at $32 million per residence.
Key takeaways
- Kolter Urban and BH Group have begun development of Olana Naples.
- The project secured $197 million in construction financing from affiliates of Apollo Global Management and BDT & MSD Partners.
- Plans call for 12 residences, with starting prices of $32 million each.
The development is being positioned as a blend of private estate living and condominium services. Its design team includes Randall Stofft Architects and SB Architects, with interiors by Champalimaud.
Estate-scale residences and amenities
Each residence is planned to cover 10,000 square feet and include 80 feet of uninterrupted beachfront views, along with outdoor living areas and wellness features inside the home. Additional planned features include climate-controlled wine rooms, soundproofed theaters, wet bars, club rooms and game lounges.
The community is also expected to provide direct beach access, concierge services and resort-style amenities. The project’s announcement described the offering as combining the space and privacy of a single-family estate with the convenience of condominium living.
Financing and development plans
The $197 million construction loan was provided by affiliates of Apollo Global Management and BDT & MSD Partners, according to the project announcement. Kolter Urban and BH Group are developing the property, with the financing supporting the start of construction and development work.
With 12 homes and prices beginning at $32 million, Olana is aimed at buyers seeking large-format residences in a beachfront community. The announced plans center on expansive private homes alongside shared services and amenities.