Excavation is underway at Ponce Park, an 11-story mixed-use condominium development at 3000 Ponce de Leon Boulevard in Coral Gables. Developed by Allen Morris Co. and designed by John Cunningham with Zyscovich, the project will comprise 58 residential units and approximately 22,000 square feet of ground-floor commercial space. KAST Construction is serving as the general contractor.
The latest construction milestone was announced by Modesto Millo, senior vice president and Miami division manager of KAST Construction, in a recent LinkedIn update.
The excavation work follows the project’s groundbreaking in December 2025 and the completion of demolition in July 2026.
Renderings depict a Mediterranean Revival-inspired design incorporating natural stone cladding, arched openings, expansive windows, and landscaped terraces. The residential component will feature two- to five-bedroom condominiums, including penthouses, with floor plans ranging from approximately 1,900 to more than 6,500 square feet. Meyer Davis is responsible for the interior design, while Naturalficial, led by Andres Arcila, is overseeing landscape architecture.
Credit: Ponce Park.
Planned amenities include a rooftop swimming pool and sky bar, fitness center, spa facilities, meditation courtyard, and private lounge spaces. The ground-floor commercial component will accommodate retail and dining uses, including Quintín Ultramarinos, a restaurant concept from Madrid-based Grupo Paraguas.
In January 2026, Allen Morris Co. secured a $132.5 million construction loan from Bank OZK to finance the development. The financing was arranged by Lotus Capital Partners, led by Faisal Ashraf.
The development is also associated with the planned redevelopment of the adjacent Fred B. Hartnett Ponce Circle Park. The approximately $11.2 million public space improvement project is being undertaken in partnership with the City of Coral Gables, with design by de la Guardia Victoria Architects & Urbanists and Naturalficial. Plans include landscaped gathering areas, pedestrian improvements, public art installations, and an open-air performance venue. Construction is anticipated to begin in January 2027, according to Allen Morris Co., with completion targeted for the first quarter of 2028.
Completion of Ponce Park is anticipated in early 2028.
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This building is proof that landmark architecture can be accomplished…..kudos to the developers and the city of coral gables….this is a beautiful building