One Naples is to be built on approximately 5.42 acres. Of that, Stock purchased approximately 4.6 acres from private owners for a cost of $25,300,000. The final .79 acres are roads and alleyways that must be vacated by Collier County and ceded to Stock.
From a legal advisory of the Florida Attorney General (Advisory Legal Opinion – AGO 78-118) In Florida, a county is statutorily authorized in the sound discretion of the board of county commissioners to close and vacate dedicated roads and streets designated on a recorded subdivision plat. Such authority must be lawfully exercised in the interest of the general public welfare and may not invade or violate individual property rights. Upon lawful vacation thereof the abutting fee owners hold the title in fee simple to the vacated roadways or streets to the center thereof unburdened and unencumbered by the public’s prior easement to use such roadways or streets for travel.
What does this mean to One Naples?
In the plan below, the heavy black lines are the boundaries of Stock’s property on which he will develop One Naples EXCEPT THAT HE DOES NOT OWN THE HATCHED AREAS OUTLINED IN RED. They are the roadways that must be vacated for Stock to have the use of that land. If the commissioners approve the vacation, they are, in effect, giving Stock the land.