The largest project in Coral Gables history, celebrates construction progress during ceremonial event
MIAMI, Fla., September 20, 2018 – The Plaza Coral Gables— the largest, mixed-use, development within the City of Coral Gables—revealed today its final design and construction plans, which include a one acre ‘open plaza’ extending to a dramatically enhanced Ponce Circle Park.
In the heart of the City Beautiful, The Plaza Coral Gables brings a luxury 4.5-star hotel, two Class ‘A’ Office Towers, luxurious residential units and lofts, casual and fine dining establishments, selected retail & commercial establishments, entertainment options and outdoor activations throughout the project; while offering two City of Coral Gables trolley stops connecting with the Metrorail and the rest of Coral Gables Business District.
The Plaza Coral Gables will be a LEED-ND certified project, ensuring Neighborhood Development projects that successfully protect and enhance the overall health, natural environment and quality of life of its residents.
Plans were revealed during a ceremonial groundbreaking event on Thursday, September 20, 2018 recognizing the construction progress.
Final plan announcements included revelations for property perimeter and city improvements, with further announcements forthcoming. The project maintains planner George Merrick’s Art Center Building and original office as its centerpiece.
“After much speculation, today we join our business partners and community supporters to share the advancements of what we believe brings urban style living to this luxurious suburban environment of the City Beautiful”, said Carlos Beckmann, Director of Operations for developers Agave Ponce LLC. “The Plaza Coral Gables is a highly integrated, and masterfully designed office, residential and retail destination providing tenants, and visitors alike, with a true sense of community. Our promise is to bring the best quality leasing options to Coral Gables for many years to come”.
Managing Partner for Agave Ponce LLC, Jose Antonio Perez Helguera, added: “Agave Ponce has been part of the Coral Gables community since 2008 when we began the development of ‘396 Alhambra’, which has already drawn top, local businesses, multinationals and retailers. Since then, we identify with the heritage of the City Beautiful, and are committed to, not only deliver another project to the robust community development, but to add value to its residents. Today is the day where we confirm that we are progressing to bring The Plaza Coral Gables to its fruition.”
The ceremonial event counted on participation by The Honorable Mayor Raul Valdes-Fauli; Mark Trowbridge, President & CEO, Coral Gables Chamber of Commerce; City of Coral Gables Officials including: Commissioner Pat Keon, Commissioner Vince Lago; Commissioner Michael Mena; and Interim City Manager, Peter Iglesias; as well as construction, design and local business partners.
The Plaza Coral Gables is a projected to have a significant economic impact on the city. 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.
“We have worked on numerous large-scale, mixed-use projects throughout the United States and can unequivocally say that The Plaza Coral Gables will rank amongst the top projects of its kind in the United States. The Plaza Coral Gables will be a transformative, iconic project that will be the pride and joy of the South Florida community,” stated Manny De Zarraga, Executive Managing Director of commercial real estate capital intermediaries firm HFF.
The Plaza Coral Gables, under the leadership of Agave Ponce, was designed by CallisonRTKL— the global architecture, planning and design firm which has created many successful environments for developers, retailers, investors, institutions and public entities around the world.
The Plaza Coral Gables seven-acre, mixed-use project will total 2.25 Million square feet of construction comprised of office, retail, multi-housing a 242-key hotel and approximately 2,050 parking spaces with intelligent parking controls and five valet stations.
The Project’s open plaza design concept surrounding the Historic House at 2901 Ponce de Leon Blvd. unites the new development with a several million-dollar enhanced Ponce Circle Park infusing each with a variety of uses and public amenities, opening of new spaces for recreation and maintaining an integrated pattern that encourages walkability via paseos. New colonnade style sidewalks, shaded with trees during the day and well-lit for nighttime safety and water features will offer a pleasant pedestrian experience. Agave Ponce will also be integrating extensive public art throughout the development.
Coastal-Tishman Construction— one of the top 100 construction management companies in the country, with a distinguished roster of public and private-sector clients— is completing the north parcel, which includes the North Office Tower, North Residential Tower and North Retail.
The Plaza Coral Gables leasing partners include Blanca Commercial Real Estate—Florida’s leading independently owned commercial real estate services firm— for the office space leasing, and Koniver Stern Group—one of the most respected retail real estate companies in the country— for the retail space leasing.
The Plaza Coral Gables office leasing includes North and South Class-A office towers equipped with the latest technological advances, tenant amenities, meeting rooms, gym, lush outdoor spaces, art installations throughout the project, unique green spaces, activated outdoor spaces for tenant programs and unique architectural features. The entire project has been designed to achieve LEED-ND certification encouraging ‘smart growth’ and ‘new urbanism’ best practices by:
• Promoting the location and design of neighborhoods that reduce vehicle miles travelled (VMT)
• Creating developments where jobs and services are accessible by foot or public transit
• Promoting an array of green building and green infrastructure practices, particularly for more efficient energy and water use
• Protecting and conserving habitat, wetlands, water bodies, and prime agricultural lands through the maintenance of natural areas and “smart location” choices
From studios to 3- bedroom residences and lofts, 174 rental units will have the convenience of enjoying all that The Plaza Coral Gables has to offer by simply taking an elevator ride. With easy access to cultural events at Ponce Circle Park across the street, to dining with friends at one of the restaurants within the 7-acre project, residents have Coral Gables’ best at their fingertips. In addition to gorgeous views, residents at The Plaza Coral Gables and South Miami will also enjoy independent amenities exclusive to them such as a rooftop pool and a state-of-the-art fitness center.
The Plaza Coral Gables will house a variety of Miami’s top dining and entertainment venues integrated all throughout the project. There will be 161,000 sq. feet of carefully curated retail with a focus on food and beverage, as well as lifestyle and entertainment for Coral Gables residents and visitors to enjoy.
The Plaza Coral Gables presents a long-awaited, luxury hotel experience. The 4.5-star hotel offers 242 keys with an extensive meeting space: 9,000 sq. feet Main Ballroom, a 3,750 sq. feet Junior Ballroom, 15,000 sq. feet Rooftop event space, in addition to a fitness center, swimming pool, and 3,450 sq. feet of conference facilities/corporate meeting space.
The luxury hotel partner is expected to be announced within the next 90 days.
ABOUT THE PLAZA CORAL GABLES
The Plaza Coral Gables is the largest, mixed-use, LEED-ND development within the City of Coral Gables. The 7-acre property at 2901 Ponce de Leon Blvd., in the heart of the business district, includes a 4.5-star hotel with meeting space for business and social events, class “A” offices, street-level shopping and dining areas, high-end rentals and lofts. The new design incorporates an almost one acre open to the public plaza facing Ponce de Leon Blvd. and the soon-to-be-improved Ponce Circle Park. For more information visit, www.theplazacoralgables.com
ABOUT AGAVE PONCE
Agave Ponce, LLC is a subsidiary of Agave Holdings, LLC— a privately owned, commercial real estate firm, specializing in the acquisition and development of commercial properties throughout the United States and Mexico. The South Florida portfolio includes the Class ‘A’ office building at 396 Alhambra in Coral Gables hosting top multinational companies, and Biscayne Bank Tower, the largest, Class ‘A’ office building in Coconut Grove. The Agave group, which includes members of the family behind the Jose Cuervo spirits business, is committed to delivering best-of-class real estate development properties.