Trending

Shoma seeks approvals for Coral Gables mixed-use redevelopment near UM

Rendering of the project and Masoud Shojaee
Rendering of the project and Masoud Shojaee

Masoud Shojaee’s Shoma Group is reportedly looking to nab city approvals for a $36 million mixed-use redevelopment near the University of Miami in Coral Gables.

The application covers redevelopment plans for the properties at 1500 Venera Avenue and 1515 San Remo Avenue, which house a low-rise rental and condo complex, respectively.

According to the South Florida Business Journal, Shoma wants to raze both parcels and build a mid-rise commercial building with 172 apartments, 33,000 square feet of retail space and 378 parking spaces. Its amenity package includes a community kitchen, fitness center and a rooftop pool.

Sign Up for the undefined Newsletter

The apartments would range in size from 752 square feet to 1,724 square feet and would be located on the upper floors, while a handful of two-story residences would occupy a portion of the ground floor.

Shoma already owns the mid-century apartments at 1500 Venera Avenue after purchasing them for $5.65 million in 2013, according to the South Florida Business Journal, and is in contract to buy out the owners of the 47-unit condominium.

The application is set to go before Coral Gables’ Development Review Commitee on September 30. [South Florida Business Journal]Sean Stewart-Muniz

Recommended For You