High-rise development begins in Coconut Grove

Park Grove expected to draw wealthiest buyers in Florida

COCONUT GROVE, Fla. - A new project is sprouting in Coconut Grove -- one that is expected to draw the wealthiest in Florida.

"There has been a redefinition of what luxury is," said David Martin, president of Terra Group.

Carlos Rosso, president of Related Group, and Martin said it is Park Grove -- a multiple-building compound in the heart of Coconut Grove.

"On this project we have a 6-acre site and we have 3 acres of park," said Martin.

The green space will showcase two 20-story main towers with only 72 units each.

"So you can really feel how this outdoor-indoor is going to operate when the time of day is right," Martin said.

It will be the last high-rise development ever built in a neighborhood that is undergoing a building renaissance.

"(The development will get) the wealthiest buyers in Florida that really want to appreciate this environment without having to live in the noise and the mess of South Beach," said Rosso.

Priced from $2 million to $7 million for the penthouse, the glass homes in the sky were created by world famous architect Rem Koolhaas.

Glass is everywhere in Park Grove; in fact most of the exterior walls are 12-foot high panes of impact resistant, insulated glass, and whole walls will open up out onto 20-foot wide balconies that have an amazing view.

They have sunk more than $2 million into the sales center and model unit to give buyers a feel for the luxurious residences. However, it won't stay long. The plan is for it to be torn down when they eventually build the 20-story tower on the site of the Coconut Grove bank building.

The development group even brought on interior designer William Sofield.

"Sofield is a very well-known interior designer that has designed for the rich and famous like Jackie O," Rosso said.

They said he will bring amenities necessary to land the big buyer and lure them to the Grove.

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