Market Research Logo

TG/RG – Park Grove Residential Development – Florida - Project Profile

TG/RG – Park Grove Residential Development – Florida - Project Profile

Synopsis

"TG/RG – Park Grove Residential Development – Florida - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "TG/RG – Park Grove Residential Development – Florida - Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary

Terra Group (TG) and Related Group (RG) are undertaking the construction of the Park Grove condominium project in Florida, the US.

The project involves the construction of three 20-story cylindrical condominium towers with heights of 78m, 87m and 90m on 2.5ha of land. The project is being developed in phases.

The project includes the construction of 297 condominium units, two 20-story towers with 72 condominium units each, a 20-story tower with 140 smaller units, four two-story amenity buildings, a three-story bank building, a two-story office building, 325m2 restaurant, green-roof-topped bases, a pool, a fitness center, 730 parking spaces and related facilities and the installation of elevators, safety and security systems.

The Coconut Grove Bank office will remain on the same site during the first phase of construction.

The second and third phases will be undertaken after moving the bank into a new facility constructed in the first phase.

The 50% of the site area (1.2ha) will be green space in the development.

In July 2013, TG purchased Coconut Grove Bank site with an investment value of US$55 million for the project.

On December 12, 2013, the Office for Metropolitan Architecture (OMA) was appointed as architect for project.

Arquitectonica has been appointed as executive architect for the project. Studio Sofield Inc. has been appointed as interior designer, and Enea Landscape Architecture as landscape architect.

On July 23, 2014, designs for the development were unveiled.

In June 2015, construction work commenced.

On December 17, 2015, TG and RG secured US$159 million construction loan from Mack Real Estate Group for the first phase.

On December 21, 2015, TG and RG entered into a US$15 million mortgage agreement with Regions Bank.

Construction activities are underway and scheduled to be completed in 2018.

Scope

The project involves the construction of three 20-story cylindrical condominium towers with heights of 78m, 87m and 90m on 2.5ha of land in Miami, Florida, the US.

The US$190 million project includes the following:

1. Construction of 297 condominium units

2. Construction of two 20-story towers with 72 condominium units

3. Construction of a 20-story tower with 140 smaller units

4. Construction of four two-story amenity buildings

5. Construction of a three-story bank building

6. Construction of a two-story office building

7. Construction of 325m2 restaurant

8. Construction of green-roof-topped bases

9. Construction of a pool

10. Construction of a fitness center

11. Construction of parking facilities

12. Construction of other related facilities

13. Installation of elevators

14. Installation of safety and security systemsReasons To Buy

  • Gain insight into the project.
  • Monitor the latest project developments.
  • Identify key project contacts.


1.Key Statistics
2.Key Dates
3.Sector
4.Operating metrics
5.Scope
6.Description
7.Latest update
8.Background
9.Key Contacts
10.General News, Project News
11.Appendix

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report