7/9/14: Coconut Groove Condo Construction Projects | Terra & Related GroupJuly 9, 2014
Terra Group and the Related Group (Joint Venture) hopes to start building a three-tower luxury condo project in Coconut Grove by early 2015.
Park Grove at 2701 South Bayshore Drives, two 20-story, 72-unit condo towers and a third 20-story building with 140 units. The development site includes the longtime home of Coconut Grove Bank, which is getting a new headquarters as part of the project.
Terra and Related are planning to obtain LEED Silver certification for Park Grove. Other planned features include a large pool with cabanas, a wine cellar and lockers, concierges and valet and butler service.
One of the two 72-unit towers is available for reservations, with about 30 percent of the units reserved since May. About 20 percent of the 140-unit tower is reserved. Prices in the 72-unit towers range from $2.1 million to $4.6 million, not including penthouses.