A new 145-unit apartment complex is in the works for Coral Gables, led by development group Erwin and Issac Sredni. The project has secured a $59 million construction loan from City National Bank of Florida and will be designed by Behar Font & Partners, based in Coral Gables.
The nine-story building will feature live/work units for small businesses to operate within their residence. With 227 parking spaces available, the development also includes an amenity deck on the fourth floor with a pool, gym, and lounge area. Spanning over 1.5 acres of land, this project adds to the growing trend of developers choosing Coral Gables as a prime location due to its high rental rates compared to other areas in South Florida.
Known for its corporate headquarters and financial offices as well as renowned restaurants and cultural attractions, it’s no surprise that developers are drawn to this popular neighborhood when planning new apartment complexes.
