To give the development a European flair, the firm is designing the building with terracotta stucco and four-, five- and seven-story elevations. "The property will have a real urban feel," according to principal Stu Cohen. "The style of Alaqua was designed around consumer demand, so we introduced 10-ft ceilings and oversized windows to create a spacious feeling in each of the units."

The project will contain one- to three-bedroom units ranging from 900 sf to 1,900 sf. Prices start in the $300,000s and the project's total sellout value is $68 million. Amenities include a private marina, an 1,800-sf fitness center overlooking the waterway, a resident clubroom with an adjoining kitchen, a landscaped promenade, an oversized pool, a heated spa, a fountain, 24-hour guard and valet services.

Cohen, Freedman, Encinosa is known for its work on Peninsula, Hamptons and Grove Isle. Alaqua is Orlando-based GDC Premier Communities of Florida's first development in the Miami area.