Moorings Real Estate History: Beach and Bay Front Condominiums
In 1957, with backing from a wealthy Cuban named Julio Lobo, Milton Link purchased the first of six sections of land, which was to be developed into the Moorings. Link paid $1.5 million for that first section of land which was almost totally submerged from the Gulf of Mexico to Crayton Road.
To sell the land, Link began dredging the submerged areas. He built a mound of earth to which a staircase was erected to take real estate agents and potential buyers to a point where they could see the entire stretch of land and progress that was being made. Unfortunately, Link only sold one lot in the first 18 months. It wasn’t until 1960, six months after the worst hurricane to hit the Paradise Coast (Hurricane Donna) ripped through Naples, that a heavy infusion of insurance money jump started real estate sales. The first lot in the Moorings sold for $4,500. Waterfront lots sold for $9,500.
The Moorings Property Owners Association was formed in the early 1960’s with approximately 60 members. The main purpose was to hold title to Lowdermilk Park which had been dedicated to the Moorings residents. For the full story of Milton Link visit http://web.naplesnews.com/ceandw/032007/feature_moorings.html.
The Moorings is currently comprised of single family homes and condominiums perched along the heart of Naples’ best beach and bay front real estate. Today you will find a renaissance of sorts happening in the Moorings area. Older beach and bay front condominiums are being torn down for newer more modern mid-rises. Units with outstanding views are being totally remodeled. The revival of the Moorings area is a true testament to its creator, Milton Link, who was quoted as saying, “The Moorings of Naples could never be duplicated any place else. It is unique; one of a kind. And it happened at the right time, in the perfect place.”
For more information on Moorings Best Real Estate, visit www.DustinBeard.com.