New mixed-use residential community would comprise of 171-luxury residences, ground floor retail and ¾ acre of landscaped open-air space with a public park
Coral Gables, FL (February 8, 2021) – The Allen Morris Company, headquartered in Coral Gables for nearly 20 years, announced plans for Ponce Park Residences. The project will consist of 171-luxury residences with retail and restaurant space on the ground level. Most significantly, the project will create a ¾ acre open-air space with an urban park dedicated to the City of Coral Gables.
Ponce Park Residences would be located at 3000 Ponce de Leon Blvd., in Coral Gables, FL, and has received significant input from the City, including three City of Coral Gables Board of Architects meetings to enhance the design of the public park and open space. Groundbreaking is anticipated for Q4 of 2021 with an expected completion date of Q3 2023.
The internationally acclaimed Oppenheim Architecture firm is the lead architect overseeing the design of the rotunda, Mediterranean-styled Ponce Park Residences, while Naturalficial, Inc. will be designing the development’s 31,470 sq. ft. open-air greenspace.
The design of the building is inspired by George Merrick’s Coral Gables City Hall and its coral rock rotunda and arcade. Like City Hall, Ponce Park Residences’ podium façade will be covered with natural stone, above which the building tapers back significantly to the project’s slender 80-foot-wide upper floors. In short, no expense was spared in the design and quality of materials for the project.
One-, two-, and three-bedroom residences would range in size from 750 sq. ft. to over 1,780 square feet. Residences would boast 10’ – 12’ ft. high-ceilings with floor-to-ceiling windows. The beautifully landscaped ¾ acre urban open-air space will feature a public park the Allen Morris Company is dedicating to the City of Coral Gables for the benefit of the Coral Gables community. In total, the project will provide a public benefits package above and beyond what is typically required by providing:
- A contribution of $2.4 million to pay for the creation of the park and integration of the right-of-way surrounding the park.
- Maintenance of the park into the future at no cost to the City
- A donation of an additional $1 million towards the beautification of the Fred B. Harnett (Ponce Circle) Park
- The contribution of over $330,000 to the City’s parking fund.
Ultimately, the entire ground floor area will encompass a retail-lined pedestrian paseo joining the park to the northern side of the project, expansive double ceiling height arcade modeled after the historic Hotel Colonnade on Miracle Mile, dozens of specimen shade trees, multiple water features and various seating areas for the public to enjoy.
“As longstanding residents of Coral Gables for 4 generations over the past 73 years and with The Allen Morris Company headquartered at the award-winning Alhambra Towers office building in Coral Gables for nearly 20 years, we are very proud to propose a plan for Ponce Park Residences, which would create a beautiful place to live and an urban park area dedicated to the City” said W. Allen Morris, Chairman and CEO at Allen Morris Company. “It truly achieves our goal of honoring the rich Mediterranean history and style that has a storied presence in the city, while further redefining luxury for modern-day living in the Gables.”
For more information www.AllenMorris.com.
About The Allen Morris Company:
The Allen Morris Company is one of the largest real estate firms in the Southeast U.S., completing their 85th development project and specializing in office buildings, multi-family residential, hotels, mixed-use developments, leasing and brokerage, and property management. The company mission is to inspire, impress, and improve the lives of all they touch. With offices in Miami, Coral Gables, Fort Lauderdale, Orlando, and Atlanta, The Allen Morris Company has served its business and investment clients for 62 years. For more information, please visit www.allenmorris.com, or follow us on Instagram at @allenmorrisco or Facebook at www.facebook.com/TheAllenMorrisCompany.
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