Plaza Coral Gables to top off two buildings
Two of the four vertical midrise buildings at the Plaza Coral Gables mixed-use development just south of Miracle Mile will top off this month, the developer said in a release. The two buildings have been under construction for a year, said Agave Ponce, the developer.
Also set to take place before the end of September are the final concrete pour for 2811 Ponce, the class A office building facing Ponce Circle Park, and the rental residential building facing Sevilla Avenue. Final completion for these two elements of the project is slated for summer 2020.
“We now focus some of our efforts towards the foundation work in the central parcel,” the developer said on the project’s website. “The City of Coral Gables issued a master building permit for this phase of the project last month, giving us the ability to keep the momentum going. Auger-cast piles have started which puts us in a position to meet our goal of a December 2020 completion for the central parcel.
“Equally important is the progress that has been made with the off-site utilities that service the project. Florida Power & Light is halfway done with the duct bank installation on Sevilla Avenue, and [complex] sewer improvements along Galiano Street are almost finished.
“Our design team is now wrapping up the south parcel construction documents which will lead us right into the permitting process for the final phase,” the developer said. “All the pieces of the puzzle are identified and the exciting process of putting them together is happening now.”
Blanca Commercial Real Estate is handling the office leasing and Koniver Stern Group the retail leasing.
For the retail element, the developer is recruiting fitness, restaurant and entertainment concepts that will benefit the entire neighborhood. The office segment will target large international and domestic businesses.
BAC Florida Bank has taken the top three floors (63,000 square feet) of 3011 Ponce, an eight-story office tower, and will move in in 2022.
The entire 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 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.”
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.