Allen Morris Company is launching sales of its luxury condo project in Coral Gables, about nine months after securing approval from the city.
The Coral Gables-based firm, led by W. Allen Morris and his son, Spencer Morris, plans to build Ponce Park at 3000 Ponce de Leon Boulevard. Prices for condos at the 11-story, 58-unit building start at $2.4 million, according to a press release. Mayi and Daniel de la Vega’s One Sotheby’s International Realty is leading sales of the project, led by Ena Espino.
Condos will range from two to five bedrooms and from 1,900 square feet to 6,500 square feet.
In April, the Coral Gables City Commission unanimously approved ordinances changing the land use to high-rise intensity from low-rise intensity, vacating the alleyway between the properties and changing a zoning district boundary.
Allen Morris also agreed to contribute $2 million in public improvements and to cover the funding gap or raise money to fill the gap for the revamp of Ponce Circle Park, as well as any cost overruns. The park currently sits between the Allen Morris site and the massive mixed-use development called the Plaza.
A denser version of the project was first proposed in 2021, to the outcry of a number of residents who were concerned about the development’s size, the effect on traffic and the lack of green space. Many residents were upset with the idea of approving such a large project following the development of the Plaza, which is not an Allen Morris project.
The larger units in the latest version of Ponce Park will have 11-foot-deep balconies with summer kitchens. The building will also include 30,000 square feet of amenities for residents, including rooftop pools, a Jacuzzi, spa and rooftop bar. The building will also have 25,000 square feet of retail with an anchor restaurant tenant.
John Cunningham of Zyscovich Architects designed the building, and Meyer Davis designed the interiors.
Construction is expected to start in the fourth quarter of this year and be completed in late 2027, according to the release.
Allen Morris assembled the site between 2011 and 2018. It also includes the properties at 216 and 224 Catalonia Avenue, 203 University Drive and 225 Malaga Avenue.
The development firm plans to move its headquarters to a new mixed-use project it’s working on in Coconut Grove. Still, Allen Morris will keep its family office in Coral Gables. It recently revealed plans for the 1.7-acre property at 3101 Grand Avenue in downtown Coconut Grove, including a five-story office building with 100,000 square feet of offices; and a three-story condo building with about 20 units. One Sotheby’s is also leading condo sales of that project.
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