The Plaza Coral Gables, city’s largest development, on track
Plans are on schedule for the first section of the mixed-use The Plaza Coral Gables – which includes the north office and residential towers and north retail space – to be available by the end of 2020, said a spokesperson for Agave Ponce, the developer. The 7-acre development, formerly known as the Mediterranean Village, is the largest ever for Coral Gables.
It’s set to rise to a maximum of 190 feet at 2801, 2901 and 3001 Ponce de Leon Blvd., and will comprise a 4.5-star, 242-room hotel with a 9,000-square-foot ballroom, a 3,750-square-foot junior ballroom, a 15,000-square-foot rooftop event space, a fitness center, a swimming pool, and 3,450 square feet of conference facilities, as well as residential and retail components.
The projected received its first building permit from the city July 10, 2018, which allowed for work on the north parcel to begin.
The residential rental component offers 174 units that range from studios to three-bedrooms. The remaining component, 161,000 square feet of retail, “will be carefully curated retail with a focus on food and beverage, as well as lifestyle and entertainment for Coral Gables residents and visitors to enjoy,” a developer document said.
The central and southern parcels will follow the northern construction. According to the developer’s website, “Coral Gables estimates that the project will provide 1,682 jobs, a payroll of $47 million and an additional $43 million from other economic activity generated by the project.” Blanca Commercial Real Estate is handling the office leasing and Koniver Stern Group the retail leasing.
The entire project has been designed to achieve LEED-ND certification, according to a developer release. It opens onto a public plaza of nearly one acre facing Ponce de Leon Boulevard and the soon-to-be-improved Ponce Circle Park.