The two development partners recently completed pouring concrete for the foundation of Two Park Grove, one of three residential towers planned for their 284-unit development site across from Biscayne Bay at 2701 South Bayshore Drive.
Beginning in the wee hours of the morning on May 28, construction workers spent hours spreading roughly 2,600 cubic yards of concrete for the 20-story condo tower. The pour marks the beginning of vertical construction for tower two as the project speeds toward its 2017 completion date.
Terra and Related paid $55 million for the 5.2-acre site in 2013, then occupied by the Coconut Grove Bank. The two scored $145 million in construction financing for the three-tower project in December, and launched sales for its final building — One Park Grove — in February after nearly selling out the other two.
So far, the project has already attracted some high-profile names: healthcare billionaire Mike Fernandez and race car driver Emerson Fittipaldi have both signed contracts on units at the project. — Sean Stewart-Muniz