7/9/14: Coconut Groove Condo Construction Projects | Terra & Related Group

July 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.

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