A $295 Million Florida Mansion Sits on a Flood-Prone Beach, and Climate Experts Warn of an Inevitable Disaster
A sprawling nine-acre mansion in Naples, Florida, with its own private beach on the Gulf of Mexico, has been listed for a staggering $295 million. However, the property, known as Gordon Pointe, faces a significant risk of flooding within the next 15 years, with a 68% chance of flooding and a 95% chance over the next 30 years, according to climate risk researcher Jeremy Porter.
The Gordon Pointe enclave is located in the Port Royal neighborhood, which is known for its low-lying and threatened properties. The area is not only vulnerable to flooding but also to the impact of sea-level rise, with the Gulf of Mexico already rising 6 inches higher than it was in the 1990s.
Experts warn that the property is “almost certain to experience a flood” and that its exposure to the water is “severe” and its risk from winds is “extreme”. The threat to the property is stark, particularly given the five hurricanes that have hit the western flank of Florida in just the last two years.
Despite the climatic risks, the property’s current owners, a family trust, are selling the estate. The property features three sides of water views, two guest houses, a dock, and a yacht berth, making it an embodiment of the desire for a beachfront lifestyle. However, for many others, the cost of living in such areas is becoming increasingly unaffordable, with home insurance rates in Florida rising 42% on average last year.
The situation has led to a jarring realization that climate change is colliding with the desire for a warm and sunny lifestyle. Experts warn that the risk of flooding and storm surge will only continue to grow, making it a high-risk area for potential homeowners. As the threat becomes more pressing, it is unclear whether the property’s price tag is justified, with some experts questioning whether it is worth the $295 million asking price.