Venetian Apartments, 2 Davis Blvd

The Venetian Apartments, built in 1925, were one of the original buildings on Davis Islands. The structure was aptly named, with steps down to the water, similar to those in Venice. In 1926, apartments rented for $65 a month and up. The 3-story building comprised 17 furnished apartments and sat at the foot of the Davis Island bridge. The Venetian occupied an especially prominent site. Its Mediterranean Revival architecture greeted motorists arriving on the islands and previewed what the development offered.

Then came the land bust. According to the Davis Islands Civic Association, in 1927, Davis Islands had six apartment buildings, including the Venetian. Collectively, they were only about 60% occupied. By 1928, eight apartment buildings contained 92 units, 37 of which were vacant. Occupancy fell to roughly 53% in 1929.

Over the decades, ownership changed hands several times until the city demolished the building.

After a lengthy dispute and a lawsuit alleging fraud, the City Council agreed to pay $190,000 for the structure and the land. It was demolished in 1965 to make room for the new dual-connector, $1,750,000 eastbound side of the Davis Islands Bridge.  

The 26-unit Adalia Bayfront Apartments were built at the foot of the new span, but not exactly where the Venetian Apartments were, and stood for nearly 20 years. Plans were announced in 1982 to demolish those apartments for a new 10-story, 64-unit Adalia Bayfront Condominiums, which began construction in 1984 and opened in 1986. Prices ranged from $129,000 to $137,000.  By 1988, most buyers had withdrawn, complaining of quality and architectural issues, and the condos were removed from the market until the problems were addressed.

A century after the Venetian opened, the economics of Davis Islands real estate offer a remarkable comparison. In September 2026, according to Realtors Smith and Associates, two-bedroom units at Adalia Bayfront were listed for $649,900 to $739,900, with published HOA fees of $1,373.76 per month—or $16,485.12 annually. That annual HOA bill alone nearly equals the gross yearly rent generated by all 17 Venetian apartments when the building opened 100 years ago.

 © Chip Weiner. All rights reserved