Allen Morris Co. has secured a $138.5 million construction loan for Ziggurat, a mixed-use development planned for a 1.7-acre site at 3101 Grand Avenue in Miami’s Coconut Grove neighborhood. The financing was provided by affiliated funds of BDT & MSD Partners alongside BHI, the U.S. banking subsidiary of Bank Hapoalim. The transaction was arranged by Lotus Capital Partners, led by Faisal Ashraf.
The project is being developed by Allen Morris Co. at the intersection of Grand Avenue, Matilda Street, and Florida Avenue. Ziggurat has been designed by Oppenheim Architecture and is planned as a low-rise, mixed-use campus integrating office, residential, and retail uses within a pedestrian-oriented site plan.
Credit: Allen Morris Company.
Plans call for two architecturally distinct structures organized around a landscaped interior courtyard and a network of pedestrian paseos. The office component will rise five stories and contain approximately 100,000 square feet of workspace. A rooftop restaurant and lounge is planned at the top of the office building. The residential component will consist of a three-story building containing 18 condominium residences. Approximately 45,000 square feet of ground-floor retail space is planned to line the surrounding streets and internal circulation areas.
The condominium residences will range from approximately 1,254 square feet to more than 5,000 square feet. Sales are being handled by ONE Sotheby’s International Realty. The residential building will overlook Kirk Munroe Park, which is slated for renovation through a public-private partnership between the developer and the City of Miami.
Credit: Allen Morris Company.
Office leasing will be led by Ryan Holtzman, Andrew Trench, and Brian Gale of Cushman & Wakefield, alongside Thad Adams of Allen Morris Co. Retail leasing is being managed by Daniel Cardenas and Michael Sullivan of Vertical Real Estate.
The development site has longstanding ties to Coconut Grove. The Espinosa family, which has operated Grove Laundry & Cleaners on the property since 1961, is partnering with Allen Morris Co. on the project.
Construction was reportedly expected to commence in December 2025. As of late December, no public reporting has confirmed that construction has begun. Completion remains targeted for early 2028.
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Very “Grovey” design and renderings – especially all the ‘greenies’ growing on the building.
Love it. Quiet luxury. Well suited to the site and great use of vegetation. South Florida should have more developments like this
I find it incredibly hideous and un-Coconut Grove, let alone South Florida. Did they not learn from Mayfair? Should be something more Victorian Vernacular or Mediterranean Revival.
Totally. Looks like ancient Mayan ruins, not Coco G.