Miami Condo Market and Lifestyle Updates
Terra Group and Related Group Collaborate on Triple Tower Project in Coconut Grove

Terra Group and Related Group Collaborate on Triple Tower Project in Coconut Grove

by Sep Niakan | July 14, 2014

The Related Group and Terra Group are joining together with plans to build a three-tower luxury condo project in the Coconut Grove area in early 2015.

Park Grove, the project's official name, is the first project that this duo has collaborated on, even though Pedro Martin, of Terra, and Jorge Perez, of Related, have been long time friends.

The plan is to create three towers; two with 20 stories and 72 condo units, and one with 20 stories and 140 units. The site, located at 2701 South Bayshore Drive, was the previous location of the Coconut Grove Bank, which is being relocated elsewhere.

Related and Terra plan to be obtain certification from Leadership in Energy & Environmental Design, or simply LEED, for Park Grove's environmentally friendly measures.

 

Some notable features include a large pool with cabanas, a wine cellar, and lockers, along with concierge, valet, and butler services.

One of the 72-unit towers is already accepting reservations. Already 30% of the units have been reserved since May. Prices range from $2.1 million to $4.6 million, with higher rates for penthouses. About 20% of the 140-unit tower is already reserved as well.

 

Source: therealdeal.com

Photo credit: Logos - terragroup.comrelatedgroup.com, Developers park-grove.comhsa.ieRenderings - designboom.com

Recent posts

Real Estate News

Miami’s New and Pre-Construction Condo Update: August 2017

by Sep Niakan | September 17, 2017

August comes up with quite some movement for the preconstruction condo market in Miami. We have Aston Martin Residences gearing up for a fall groundbreaking, Canvas and The Harbour successfully topped off, 1010 Brickell got its ok to open and...

Opinions and Advice

Back to school

by Sep Niakan | August 29, 2017

Septembers can be a sobering time for most as we say goodbye to summertime frolic. Kids are either back to school or are gearing up for it. Parents are busy running around, trying to get everything and every kid organized. It’s back to the...

Opinions and Advice

4 Property Tax Savings and Benefits when Buying Property in Florida

by Sep Niakan | August 29, 2017

For most people, paying taxes equals one big headache. In Florida, knowing your tax laws is worth the pain. Being a Florida resident, you can gain from many tax-saving programs. You can also find affordable real estate in big cities like Miami....

Lifestyle

September Events to Spice Things Up In Miami!

by Sep Niakan | August 27, 2017

Summer may be on its way out, but that doesn’t mean things have to fizzle down. There’s a whole bunch of stuff to do this month, especially around Labor Day weekend. Scroll through our top picks and plan a fun September in...