At Surfsedge, an early-1970s tower at 4001 Gulf Shore Boulevard North, the association's reserve study recommends that each unit put $3,304 a year into reserves in 2026 and again in 2027. In 2028 the recommended figure falls to $1,018 a unit. The reason is a full-depth roof replacement scheduled for 2027, and once it is paid for, the building's required savings rate falls by about two-thirds.
That is the part of a Park Shore condo price that never shows up in the median. Two units on Gulf Shore Boulevard North can ask about the same amount and still cost their owners very different sums over the next five years, depending on whether the building has just finished a major project or is about to start one. In 2026, that schedule is written down in a standard form, and some Park Shore associations publish it where anyone can read it.
The Rule That Put the Budget Online
Florida's 2025 condominium bill, HB 913, rewrote the official-records section of the condo statute. Starting January 1, 2026, the requirement to post records online applies to many more buildings. The enrolled text of HB 913 reads:
"An association managing a condominium with 25 or more units which does not contain timeshare units shall post digital copies of the documents specified in subparagraph 2. on its website or make such documents available through an application that can be downloaded on a mobile device."
Before this change, the threshold was 150 units. The documents that must be posted include the annual budget, the required inspection reports, and the most recent structural integrity reserve study, or SIRS. In most cases they have to go up within 30 days after the association receives or creates them. Almost every mid-size and large tower in Park Shore clears 25 units. Surfsedge has 112 units and Le Ciel Venetian Tower at 3971 Gulf Shore Boulevard North has 86.
The statute specifies who gets access. The website must include a protected section that is "inaccessible to the general public and accessible only to unit owners and employees of the association," and an owner who asks in writing receives a username and password. The guaranteed access belongs to owners. Some associations go further. Surfsedge's reserve study and Club Brittany's assessment schedule, both quoted below, sit on public pages. For other buildings, the owner selling the unit is the one with a login.
The requirements these files document go back to SB 4-D of 2022, which Florida's Department of Business and Professional Regulation describes as creating the milestone inspection, structural maintenance and reserve rules. SB 154 of 2023 later revised the inspection and reserve study provisions.
A Roof, Priced Per Unit
The Surfsedge SIRS, dated June 2025 and revised July 2025, covers the fiscal year that began January 1, 2026. It starts from a reserve balance of $537,600. Its cost and funding recap shows what the roof does to that balance:
| Year | Recommended annual funding | Capital expenditures | Ending reserve balance | Per unit, monthly |
|---|---|---|---|---|
| 2026 | $370,000 | $376,650 | $558,178 | $275.30 |
| 2027 | $370,000 | $906,660 | $49,363 | $275.30 |
| 2028 | $114,000 | $0 | $168,264 | $84.82 |
| 2029 | $116,633 | $0 | $293,445 | $86.78 |
After 2028, the study recommends raising contributions by 2.3% a year. The same report records extensive work already completed after Hurricanes Helene and Milton, including ground-floor windows and doors, the fire alarm control panel, electrical equipment, the generator, and the fire pump. It names the aged roofing on the main roof as the most significant remaining maintenance item.
For a buyer, the timing is the point. Someone who closes in Surfsedge in early 2027 is funding a roof that the next owner will enjoy at about $85 a month toward reserves. Someone who closes in 2028 buys into a building with the roof and the post-storm repairs already done and a reserve balance rebuilding from a low base. The asking price does not show that difference.
What a Third of the Assessment Is Buying
Surfsedge shows a building near a large project. Club Brittany at 4021 Gulf Shore Boulevard North shows a different case. Its association FAQ dated June 17, 2026 breaks each unit's annual assessment into operating, reserve, and insurance lines, billed quarterly.
| Unit | Operating | Reserve | Insurance | Garden | Annual total |
|---|---|---|---|---|---|
| 01 units | $29,920.00 | $22,315.30 | $15,350.17 | n/a | $67,585.47 |
| G-08 | $16,592.00 | $12,374.85 | $8,512.36 | $6,157.50 | $43,636.71 |
| PH12 / PH14 | $52,190.00 | $38,924.99 | $26,775.57 | n/a | $117,890.56 |
On an 01 unit, the reserve line is about 33% of the annual total, and reserves plus insurance come to about 56%. The penthouse lines have the same proportions. The 2026 assessment at Club Brittany is mostly money set aside for future building work plus the cost of insuring the building, with day-to-day operations making up the smaller share. These are regular budgeted assessments, not a one-time special assessment.
Read alongside Surfsedge, this explains the gap between two similarly priced units. A building that funds reserves heavily every year is paying for upcoming work as it goes. A building that is about to fund a single large project pays for it in a burst. In either case, the carrying cost depends on the building's calendar.
The Inspection Cohort Along Gulf Shore Boulevard North
The City of Naples publishes a 2024 Milestone Buildings roster listing the buildings in the milestone inspection cohort. Several Park Shore names appear on it:
- Gulf Towers, built 1964
- Allegro, built 1981
- Park Plaza, built 1983
- Park Shore Towers, built 1985
- Le Ciel Park Tower, built 1994
- Le Ciel Venetian Tower, built 1995
The roster shows which buildings were due for inspection. It is not a finding about the condition of any of them. Its practical use is as a guide to which buildings should have milestone inspection reports in their posted records under the 2026 rule, alongside the budget and the SIRS.
Why the Reading Matters More in a Tighter Market
The most recent figures are in NABOR's September 2026 market statistics, released October 23, 2026. They cover the "Naples Beach" segment, ZIP codes 34102, 34103 and 34108. Park Shore falls within that area, but the segment is broader than Park Shore.
| Naples Beach condos | September 2025 | September 2026 |
|---|---|---|
| Inventory | 717 | 564 |
| Months supply | 10.5 | 6.4 |
| Days on market until sale | 129 | 120 |
| Percent of list price received | 91.7% | 92.9% |
| Year-to-date sales, through September | 685 | 870 |
| Year-to-date median closed price | $1,135,000 | $1,052,500 |
The September median for the segment fell 24.1% to $887,500, but on just 64 sales. NABOR's own footnote warns that percent changes can look extreme because of small sample sizes. The more useful signal is supply. Through September 2026, year-to-date sales were up 27.0% while active inventory fell by about a fifth and months of supply dropped from 10.5 to 6.4. Countywide, the September 2026 condo median was $400,000, down 2.4%, with 5.8 months of supply, down from 8.5.
Fewer listings and faster absorption give a buyer less time between the first showing and a decision. A year ago, with more than ten months of supply, a buyer could request documents after making an offer and still have room. With 6.4 months, reading the budget and SIRS early, while the building is still on the shortlist, is how a buyer compares the real costs of two Park Shore units before the timeline gets tight.
Before the First Showing
Some of these documents are on public association pages, and the rest sit in the owner portal the 2026 rule requires. Either way, they are the same four items:
- The current approved budget. Surfsedge, for example, lists a 2026 approved budget on its association site. Look at how much of the total goes to reserves and insurance, as at Club Brittany.
- The most recent SIRS. Find the cost and funding recap and look at the next three to five years. A spike followed by a drop, like Surfsedge's 2027 roof year, marks a major project.
- Any posted inspection reports. For buildings on the city's milestone roster, these are among the required postings.
- The association FAQ. Some, like Club Brittany's, list the assessment lines by unit type. Others, like Le Ciel Venetian Tower's January 1, 2026 FAQ, give the billing schedule without dollar amounts.
These documents describe a building's own plans and budgets. They are general information for comparing buildings, not legal or financial advice, so confirm what applies to a specific purchase with a Florida real estate attorney, your lender, or your insurance professional.
FAQ
Does every Park Shore condo building have to post these documents? The 2026 posting requirement in HB 913 applies to associations managing condominiums with 25 or more units that do not contain timeshare units. Smaller associations fall outside the website requirement. The required posting is to a protected area for owners, so public access depends on each association.
Is a high reserve line a warning sign? Not by itself. At Club Brittany, the reserve line is a fixed share of every regular assessment. At Surfsedge, the higher recommended contributions in 2026 and 2027 are tied to a specific roof replacement, after which they fall. What matters is how each building schedules its upcoming work.
Does being on the city's milestone roster mean a building has problems? No. The 2024 roster lists buildings due for milestone inspections by age and cohort. It does not report inspection findings or repair status.
Comparing Gulf Shore Boulevard North buildings by their reserve schedules as well as their views is the kind of work The Resop Team does with every condo search. Chris and Kara can go through a building's budget, SIRS and inspection cohort with you early in the search, so you know where the building is in its capital cycle when you make an offer. Book an Appointment.
