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Terra, Mr. C Unveil Plans For Luxury Condo In Coconut Grove

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MIA SummerHill Coconut GroveThe Cipriani family’s next project will be a luxury condo tower in Coconut Grove.

Less than a year after opening its Mr. C Miami hotel in the Grove, the Ciprianis are working with David Martin’s Terra to launch a Mr. C-branded mixed-use condo project nearby at 2655 South Bayshore Drive, according to a press release.

Arquitectonica’s Raymond Fort is designing the building and Meyer Davis is handling the interiors. The 20-story building will have 121 units and ground-floor retail space.

The development is the first major residential project for the Mr. C brand. The hospitality brand will manage the food and beverage operations, including a gourmet market and cafe, Martin said.

Sales are expected to launch in December.

Terra recently closed on $185 million in construction financing for the 1.5-acre site, previously known as the Bayshore Grove project. Mack Real Estate Credit Strategies is the lender.

Martin said he plans to break ground on the new project by the second quarter of next year.

The property is one parcel away from Terra’s Grove at Grand Bay, a pair of Bjarke Ingels-designed luxury condo towers. It’s also across the street from Treo Group’s Regatta Harbour, a 9.5-acre, mixed-use bayfront development with more than 100,000 square feet of retail and restaurants, a new marina, dry boat storage and more.

 

Source:  The Real Deal

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