Plans call for the luxury project to be completed in two phases, each with about 170 units. The developers acquired the 3.2-acre site in January for $12 million. This will be BAP Development and Newleaf's first project together and BAP's first in the city.

The development will be located at 2589 First St. on the Caloosahatchee River. The towers will feature views of the water and the amenities will include a pier, a private marina, a heated infinity-edge pool, a Jacuzzi, a fitness center and a spa, a billiards room, a theater and a lush garden area.

The one-, two- and three-bedroom units and two-story lofts will range in size from 800 sf to 1,800 sf and prices will range from about $250,000 to $1.2 million. Sales of the new development, which is yet to be named, are expected to begin in the fall. BAP Realty, a division of BAP Development, is handling the project's sales.