Coconut Point combines retail with luxury living

COURTESY PHOTO Coconut Point residential balcony at sunset. The units have modern high-grade touches, such as granite countertops in the kitchen, marble countertops in the bathroom, ceramic tile flooring and designer lighting. Kosene & Kosene Development Company has made its mark on urban, mixed-use residential communities in Indiana and Illinois.

Now, the Indianapolis-based company's Florida venture -- the Residences at Coconut Point in Estero -- is proceeding ahead of schedule, earmarked for completion in early 2008.

Kosene officials promote the luxury condominiums over and near retail space as a simple, connected and elegant lifestyle. "It's a niche market," said Joy Selby, Kosene director of sales. "It's not for everybody. There is really nothing like it here."

Construction of the 290 residences, off U.S. 41, is in its second phase. Selby said the residences range from $350,000 to the $800,000s.

Closings are under way in the five buildings to the rear of the upscale Coconut Point, a Simon Property Group mall. Each of these original releases features three floors of residential space. The first and fifth buildings are smaller, corner structures.

COURTESY PHOTO The Residences at Coconut Point. About 70 units remained available as of late October. Three buildings facing Fashion Drive have two floors of residential living above the shopping center.

The location of the buildings creates close quarters and interaction for residents, who have the convenience of retail and entertainment venues in the same or adjacent building and just around the corner. Residents don't have to drive to shop or play.

"Everything is right there," Selby said, noting that the community is for "people who enjoy life, who enjoy people."

She said the project has attracted people of all ages and backgrounds. In particular, Europeans have bought into the community because of similar experience with the "sophisticated urban lifestyle," the trademark displayed on the Kosene online site.

Also, Kosene's strong presence in the Midwest has generated a following here. According to the company's online site, Kosene Residential has six other current projects in Indiana and has completed multiple projects in the state, most of them reflecting an upscale urban lifestyle and a European influence.

COURTESY PHOTO Coconut Point Fashion Drive Sign with Condos The Coconut Point neighborhood shares the company history.

"It's very unique," said Brian Van Slyke, Kosene senior manager of construction services. "It has a lot to offer for a lot of different lifestyles."

Van Slyke cited the flexibility of the open floor plans, with one- to three-bedroom options from 1,000 to 2,200 square feet under air. Buildings 1 through 5 all have one- to three-bedroom units. For example, one design features a one-bedroom unit with one and a half bathrooms for 1,005 square feet of living space. A two-bedroom with two and a half bathrooms is 1,878 square feet under air.

Three-bedroom units are not an option in every Fashion Drive building, according to the site map, though many units contain two bedrooms with a den. One plan has three bedrooms, three bathrooms and a den, 2,093 square feet.

"The residences are not overly large," Selby said. "They (buyers) want few things but nice things."

Rooftop decks, garage parking and a European swimming pool are some of the benefits. Interiors have modern high-grade touches, such as granite countertops in the kitchen, marble countertops in the bathroom, ceramic tile flooring and designer lighting.

The lake, pool and Fashion Drive views also are attractive to buyers, said Van Slyke. "They all give you a slightly different feel," he said.

Residents don't have to worry about a lot of upkeep and absorb costs associated with it, Selby said.

A model residence was completed last month, Selby said, and 70 units remained available as of late October. Twenty-five residences had yet to be released.