The eight-unit apartment building will be demolished to make room for a new, five-story condominium project called La Torre del Valle. The project will have 14 units ranging from 1,192 sf to 1,649 sf at pre-construction prices ranging between $329,000 and $499,000.

Alliance Development will oversee the development of the project, which will be built in the Coral Gables Mediterranean-style. La Torre del Valle was designed by Marshall Bellin and Associates.

This is just one of several South Florida projects planned jointly by the two companies. "We (the partnership) are actively seeking to acquire development sites to build 1,000 units in the cities of Coral Gables, Miami, Miami Beach, Bay Harbor and North Bay Village," says Robert Cambó, president of Alliance.