The Real Deal Miami

Coral Gables board delays decision on Ponce Circle development

Development estimated to cost $500M

December 18, 2014 03:00PM

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Mediterranean Ponce Circle

Mediterranean Village, Ponce Circle

After discussion over proposed amendments to the former Old Spanish Village site went over the allotted time at a Coral Gables zoning meeting, the board reportedly decided to continue the meeting in January.

Developers for the proposed Mediterranean Village at Ponce Circle are asking that the floor area of their project be controlled by a planned area development plan rather than a mathematical formula, among other proposed amendments. The members’ decision would have been passed on to the City Commission, the next governing body that will review the proposed development, according to Miami Today.

The mixed-use development will span about 7 acres and cost $500 million, the newspaper reported. It will include a Class A office building, a high-end hotel, commercial space and residential towers. [Miami Today] — Katherine Kallergis

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