NAPLES, Fla. — Neighbors in Riverpark East are calling on the City of Naples to rethink its plans to purchase the Stillwater Cove apartment complex for affordable housing. Residents say taxpayer money can be better spent and the property’s location in a known flood zone makes it a poor investment.
The city is considering acquiring the 60-unit complex on 5th Avenue North, built in 1969, as part of an effort to expand affordable housing options. The property, which sits near the Gordon River, has raised concerns due to its flood-prone location.
WATCH TO HEAR HOW NEIGHBORS ARE REACTING TO THE PROPOSED PURCHASE OF THE COMPLEX:
Keith Schoff, a recent home buyer in the area, expressed his concerns about the proposed purchase.
“A lot of us have actually been up at City Hall complaining about it,” Schoff said. "We don’t want them spending taxpayer dollars behind a bunch of single-family homes."
Schoff believes the city’s funds would be better spent on other projects that could enhance the neighborhood’s value, such as dredging canals and improving roads.
"I would love to see luxury single family homes back here, in a gated community," he said.
Other residents share similar concerns, with one saying the city's focus should be on improving the area's infrastructure rather than taking on a pricey project.
"Why are you going to put money that we so desperately need into a project that’s not really usable?" said Lauren Batlle, a local resident.
Batlle believes this purchase plan would put vulnerable low income families at risk in the event of a severe storm.
“Go ahead and buy it, after you fix our infrastructure in Riverpark East," Batlle said, somewhat tongue-in-cheek. "It makes no sense for them to buy it because our infrastructure is still Water Cove's infrastructure. How about fortifying Riverpark East first, then moving our taxpayer money into a project that doesn’t make sense?”
The city’s Community Redevelopment Agency (CRA) has approved negotiations with the property’s owner Corridor Ventures.
However, the purchase is not finalized. The city’s real estate consultant must present flood risks and a feasibility plan before the matter goes to City Council for a final vote.
According to estimates presented, the potential acquisition could cost more than $20 million.
