Developer Agave Ponce received final zoning approval from the city of Coral Gables for its 6.7-acre mixed-use development.
Mediterranean Village at Ponce Circle will include a five-star hotel, Class A office space, high-end retail, 229 townhomes and condos, a rooftop restaurant and parks. RTKL is the project’s architecture and design firm.
More than 50 percent of the former Old Spanish Village site will be dedicated to open space, including rooftop green space, and developers have committed to including public art throughout the project, according to a press release About 2,700 parking spaces will be underground.
“We have before us a truly unprecedented opportunity to add tremendous value to urban life in the city of Coral Gables by transforming a neglected site into a dynamic community hub, and to do so in a sustainable way,” Dan Freed, vice president in RTKL’s Miami office, said in a statement.
Agave announced plans for the $500 million development in February 2014. The company’s CEO is tied to Mexico City-based Grupo JB, which owns the Jose Cuervo brand. The company has developed properties in Coral Gables before, such as the office building at 396 Alhambra Circle. — Katherine Kallergis