Work starts on Naples apartments as developer secures $45M in financing

A Cincinnati developer behind a Naples apartment complex on Vanderbilt Beach Road is taking the first step toward building the community.

CIG Communities has begun the initial site work on the 20-acre property that will be called Saltgrass Reserve when completed. That work includes the demolition of two existing homes on the property and the construction of a deceleration and acceleration lane to make it easier to access the community, according to a statement.

The second phase of construction will include site clearing and the addition of utilities. The total construction project is expected to take 21 months with leasing at Saltgrass Reserve planned to start September 2027…

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