The Parc at Turnberry Isle, at 19400 Turnberry Way on the last undeveloped parcel on Turnberry Isle, will consist of two, 22-story condominium towers containing a total of 111 units. The $40 million project will feature two- and three-bedroom luxury residences that range in size from 1,425 sf to 1,910 sf and start selling in the $400,000-range.
Amenities will include terraces with glass railings; European kitchen cabinetry; imported marble and granite; a fitness center with sauna, massage and steam rooms; a heated pool with a whirlpool in a garden terrace; and a children's play area.
Construction is scheduled to begin on The Parc at Turnberry Isle early this year, and occupancy is expected within two years.
CABI is also developing the Country Club Center, which will have 70,000 sf of available space, including office and ground-level retail/banking space with 9-foot, floor-to-ceiling windows. This $15 million project, at 19950 W. Country Club Drive, is scheduled to break ground this month and be completed late this year.
Country Club Center will have up to 12 balconies and 16 corner offices per floor, as well as artistic landscaping, 24-hour security and pre-wired cable, among other amenities. The center will be adjacent to Turnberry Isle Resort and the Marriott Residence Inn of Aventura.
CABI, headquartered at 20801 Biscayne Blvd., Suite 306, in Aventura, was formed for the developers' U.S. debut. GICSA, formed in 1989, is one of Mexico's largest and most profitable real estate development companies, according to the company. It focuses on properties that meet the demands of sophisticated commercial, industrial, residential and retail end-users. The company is scheduled to complete nearly 15 million sf of new construction in 2003.
"South Florida and Aventura, in particular, are strong real estate markets with a great deal of potential," Elias Cababie, chairman of GICSA, says in a statement. "That's the main reason we chose to launch our United States operations here."
Cababie said CABI Developers also plans to explore development partnerships in South Florida, as well as further private development opportunities.
GICSA developments in Mexico include Maralago Acapulco; Puerta del Sol in Cabo San Lucas; Cancun's Forum By the Sea, La Isla and Maralago Cancun; and Esmeralda III, Punta Santa Fe, Residencial Lomas II and Torre Picasso in Mexico City.
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