Construction has broken ground on Seventeen Gables Residences, an eight-story, 117-unit condominium development at 1715 Douglas Road in Coral Gables. Developed by BAM Development and Ascendra Capital, the project is designed by Caymares Martin A&E Design with interiors by Asprea Studio. The milestone follows the closing of a $60 million construction loan provided by Dwight Mortgage Trust.
The groundbreaking ceremony marked the formal start of construction for the development, which is located along the Douglas Road corridor near Coral Gables’ commercial core. Project principals, representatives from Cervera Real Estate, and members of the design and financing teams attended the event.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
“Today is more than just a ceremony; it is a promise kept to our future residents,” said Mayer Berkovits, founder and CEO of BAM Development. “By breaking ground simultaneously with our sales launch, we are providing our buyers with the certainty that Seventeen Gables is moving forward at full speed.”
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
“The momentum we are seeing today reflects the incredible demand for high-quality residential products in this corridor,” added David Steinberg, partner and CIO of Ascendra Capital. “We are proud to reach this milestone on schedule and look forward to seeing this landmark rise.”
Residences will include one-, two-, and three-bedroom layouts, with pricing starting from the mid-$600,000s. Interior design is being led by Karen Asprea of Asprea Studio.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Amenities are expected to include a fitness center, sauna, pool, resident lounge, co-working spaces, and parking. The building is planned near the intersection of 17th Street and Douglas Road, within walking distance of Miracle Mile and a short drive from Brickell, Downtown Miami, and Miami International Airport.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
Credit: Seventeen Gables Residences.
“Beginning construction on a project concurrent with the sales launch is highly unusual,” concludes Jesse Ottley, President of Development Sales for Cervera Real Estate. “Having a project move forward before the traditional sales threshold is a testament to this development team’s confidence in both the product and the community.”
Sales and marketing for Seventeen Gables Residences are being handled exclusively by Cervera Real Estate.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Be the first to comment on "Seventeen Gables Residences Breaks Ground At 1715 Douglas Road In Coral Gables"