MAJOR MILESTONE ACHIEVED
On September 21, 2021, a major milestone in the development of The Plaza Coral Gables was achieved.
Executives from the Loews Hotel and Agave Holdings hosted an event to celebrate the Topping Off of the Loews Hotel tower currently under construction and slated for completion in the Fall of 2022.
The copper cupola that “caps” the highest point in our entire project, was hoisted to its permanent home. A link to the video of this special event can be seen below. It was a symbolic achievement that represented years of planning and hard work by all involved. Leadership from the City of Coral Gables, the design team, and our construction partners from Coastal Construction, were all there to enjoy this special event.
While we took a moment to celebrate this milestone, we are once again completely focused on the next 12 months ahead. Our plan is to have all elements of the project ready for occupancy by the end of next year. The South office tower is already topped off, and we are working on the exterior elements to close-up the envelope. Our central parcel which consists of two levels of commercial space and 5 levels of parking garage, will be completed by the end of this year. The 39 apartments on Galiano that line the east side of our project, will be delivered in North, Central and South phases. The first phase will be available for occupancy in early 2022.
We have had tremendous success in our leasing efforts. The Reserve, our residential tower is 95% occupied and our North office tower is filling up quickly. Multiple tenant improvements are ongoing with several slated for Certificate of Occupancy this year. The leasing efforts on the commercial / retail spaces are also exceeding our expectations. Our first restaurant “Fogo de Chao” will obtain its construction permit soon and should be open to the public early next year. “Pinstripes” and “Sweet Paris” will start their improvements early next year. A long list of other reputable tenants will be announced soon.
We have a lot of work to get done in a short period of time, but we are very confident that The Plaza Coral Gables is going to be a huge success and a destination that will be enjoyed by many for years to come.