Changes in flood zone maps

4what Local News, Naples Real Estate Info

Up to 50,000 Collier homes and business could be affected by changes in flood zone maps for the county. If passed, property owners would be required to have more insurance on their properties. Effectively, this proposal would turn much of Collier into a special flood hazard area. This could mean mandatory flood insurance for more owners, as well as increasing …

Recession Finally Over?

4what Naples Real Estate Info

Ben Bernanke, the Federal Reserve Chairman said he believes that the recession is probably over. Bernanke also says that the economy is likely growing but it still won’t be enough to prevent the unemployment rate from rising. The current unemployment rate is 9.7 percent, which is a 26-year high. He feels confident that a comprehensive reform will be coming in …

SilverSpot Grand Opening

4what Naples Real Estate Info

September 11, 2009 The new SilverSpot movie theater opens tonight at the Mercato in Naples. The SilverSpot is a luxury cinema with large custom made leather seats, a lounge, and a dining room. The lounge and dining room have dark hardwood floors and custom wallpaper. In addition to the normal concessions of other theaters, SilverSpot offers beer and wine. The …

Brooks Club agreement withdrawn

4what Local News, Naples Real Estate Info

Members have called of the agreement to purchase the Commons Club and Shadow Wood in the Brooks. The Bonita Bay Group have put in new demands which have members outraged. The new restructuring officer from the Bonita Bay Group said that they are no longer willing to take on liabilities of more than $250,000 for deposits. Previously, the Bonita Bay …

Hurricane Fred

4what Hurricane Planning

The second hurricane of the 2009 Atlantic season has formed off the coast of Africa by the Cape Verde Islands. Luckily, the hurricane is very slow moving and is headed north and won’t come anywhere near the east coast. Meteorologists predict that Fred will weaken over the next few days and die off.

WCI under new ownership

4what Local News, Naples Real Estate Info

WCI has emerged from bankruptcy, after filing for Chapter 11 protection in August 2008. It is now a private company, with the largest shareholder being a private investment firm. The Vice President of this company, Monarch Alternative Capital LP is also on the new board of directors for WCI. All of the previous shareholders and unsecured creditors are gone, and …