Developers Launch Sales for Coral Gables Wellness Condos

Eduardo Otaola and Jose Boschetti are launching sales for Cora, a planned wellness-focused condo project in Coral Gables.

Otaola’s Constellation Group and Boschetti’s Boschetti Group are planning the 13-story, 74-unit Cora for 4241 Aurora Street, according to a press release. The building will have 8,000 square feet of ground-floor retail and 13,000 square feet of offices on the second and third floors, the release shows. As part of the project, the developers are also building a 5,000-square-foot park featuring a 12-foot-tall bronze sculpture by renowned artist Jaume Plensa.

The development partners hired Arquitectonica to design the building and Miami Beach-based Urban Robot to handle the interiors. Units will range from 700 square feet to 2,700 square feet, with one to three bedrooms. Unit prices start at $950,000, Otaola said. Douglas Elliman is leading sales and marketing.

Rendering of the Cora project in Coral Gables (Constellation Group, Boschetti Group)

They bought the 0.7-acre site for $6.1 million in 2022, records show. The project is set to finish construction in 2027.

Constellation and Boschetti are frequent development partners. They are also building Ella Miami Beach, a 10-story, 95-unit condo project in North Beach.

The developers have changed Cora from its original plan as an apartment building. It follows a trend of South Florida multifamily developers converting their projects to condos, which are more in demand. Condo projects are also generally easier for developers to obtain construction financing.

The project also follows a growing movement toward wellness-focused residential projects, which incorporate health and longevity amenities into buildings.

“We’re not asking you to change your lifestyle. We’re not asking you to change your habits,” Otaola said. “You are indirectly increasing your longevity by living in this building.”

Madrid-based Lamarca Well was brought in as the wellness consultant for the project, which will incorporate red light therapy panels, health monitoring systems and pursue a Well building certification from the International Well Building Institute, the release shows.

Other wellness amenities include spa facilities, a fitness center and wellness concierges for the building. Cora will also have a coworking lounge, boardroom, catering kitchen, entertainment spaces and a tea lounge, the release shows.

Otaola said he anticipates a range of buyers: empty nesters, second home buyers, young families and students at the University of Miami.

“I think we’re going to get a little bit of everything,” he said. “The price makes it a lot more accessible than many other projects in the area.”

In nearby Coconut Grove, David Martin’s Terra is also planning a luxury wellness condo project. He launched sales for the eight-story, 194-unit Well-branded project last month, with prices starting at $1.5 million. Terra’s first Well-branded condos are nearing completion in Bay Harbor Islands, and the building will house Tom Brady’s family office when construction is completed.