Coral Gables to begin talks with Allen Morris/Related on mixed-use garages

Miami /
Jan.January 24, 2017 04:30 PM

After more than an hour of deliberating with developers and city staff, the Coral Gables City Commission voted to move forward with the redevelopment of two city-owned garages off of Miracle Mile.

Staff will begin working with the top-ranked bidder, Coral Gables City Center, on the redevelopment of the garages at 245 and 345 Andalusia Avenue into mixed-use projects with high-tech parking systems, retail and office space, and apartments. The Allen Morris Company and the Related Group are partnering on the city center proposal with designs by Zyscovich Architects.

The city has up to six months to negotiate with Coral Gables City Center, and if those talks are fruitless, it can move onto the second-ranked bidder, TC Gables LLC, for up to another six months. The proposals are subject to change, but city center’s included retail space on the ground floor, apartment units above the parking (featuring a smart parking system), in buildings that have a combined 27,800 square feet of commercial space, 140,000 square feet of office space, nearly 1,600 parking spaces and 244 luxury apartments.

The second group is led by Terranova, Zom and Gibson Development with Arquitectonica as the designer. Included in the TC Gables proposal is a building that Terranova owns on the corner of Miracle Mile and Ponce de Leon Boulevard, a combined 328 apartments, more than 1,800 parking spaces, and 50,700 square feet of retail space.

At Tuesday’s meeting, both development groups presented their plans, including videos from the city center project. The commission questioned whether the city would be operating the garage and whether it would retain ownership of the public parking – both points commissioners focused on. Commissioner Pat Keon said more discussion was needed to determine what the staff would be negotiating if a motion was passed.

Commissioners Jeanette Slesnick and vice mayor Frank Quesada moved to pass the resolution, allowing the city to progress on the redevelopment of Garages 1 and 4, a move that is not a binding agreement with the developer and one that the commission can modify.

“This has been going on since 1998,” Slesnick said. “It’s about time we get some new parking garages.”


Related Articles

arrow_forward_ios
From left: David Martin, Aby Rosen, Jorge Perez, Barry Sternlicht, Victor Ballestas and Russell Galbut (Getty)
Developers bet on long-term demand for Class A Miami Beach office space
Developers bet on long-term demand for Class A Miami Beach office space
Domio Wynwood, Gustavo Miculitzki, and Jon Paul Pérez (Credit: Alberto Tamargo/Getty Images)
Iconiq buys Related and Block Capital’s Wynwood apartments for $77M
Iconiq buys Related and Block Capital’s Wynwood apartments for $77M
6875 Sunrise Drive in Coral Gables (Photos courtesy of Allison Blumenthal, Brown Harris Stevens)
Construction honcho buys waterfront Coral Gables mansion for $11M
Construction honcho buys waterfront Coral Gables mansion for $11M
Jorge Pérez with One Park Grove (Getty, Robin Hill)
Related developer Jorge Pérez buys condo at one of his Miami projects
Related developer Jorge Pérez buys condo at one of his Miami projects
Clockwise from left: A rendering of Water Street Tampa, Ian Schrager, Jeff Vinik, Patrick Mahomes, rendering of Tampa Edition, Bill Gates and Tom Brady (Photos via Getty; Water Street Tampa/Photo Illustration by Kevin Rebong for The Real Deal)
Development boom in Super Bowl city: Tampa reaches for its real estate moment
Development boom in Super Bowl city: Tampa reaches for its real estate moment
Renderings of the One Brickell project with Jorge Pérez  and Jon Paul Pérez (Photos via Wikipedia Commons, Related)
Related to partner with Baccarat on major Brickell high-rise development
Related to partner with Baccarat on major Brickell high-rise development
Jon Paul Pérez and Jorge Pérez with renderings of One Island Park (Related)
Related wins Miami Beach board approval for office project on Terminal Island
Related wins Miami Beach board approval for office project on Terminal Island
Shaggy and her Cocoplum home (Getty, Douglas Elliman)
It was him: Shaggy buys Cocoplum home
It was him: Shaggy buys Cocoplum home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...