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Watermark Works Up Big Appetite in Coral Gables and Jupiter

CORAL GABLES, FL-After completing the 14-story Verona Tower at Deering Bay Yacht & Country Club in the local Old Cutler area last May, Watermark Communities Inc. has begun the Siena multifamily building of similar size. The Bonita Springs, FL-based company also plans a $150 million expansion of the Jupiter Yacht Club in Palm Beach county.

By Harold Kelman | Updated on October 23, 2000

CORAL GABLES, FL-Watermark Communities Inc. continues to build out its Deering Bay Yacht & Country Club in this Miami-Dade County community along Biscayne Bay. The Bonita Springs, FL-based company is also working on construction plans for a portion of the 14,808-acre land holdings that WCI purchased last year from the MacArthur Foundation in Palm Beach, Martin and St. Lucie Counties.

On the 220-acre Deering Bay tract, the new Siena Tower, like the Verona building completed last May, will have only four residences per floor on the first 12 floors. The living areas will range from 2,745 sf to 3,669 sf, including balconies and terraces.

The top two levels will each feature three penthouses, with the two center penthouses containing 5,780 sf, including balconies. Unit prices range from $500,000 to just under $2 million.

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