Luxury builder Gary Shear of Shear Construction and Development Inc. and architect and developer Charles Treister of Treister Design and Development Inc. are developing the project with 50 residential apartments, and 10,000 sf each of office condo space and retail space on the bottom floors of the building. The developers received approval for the Mediterranean-style project from the City Commission in January. The project, to be located at 1607 Ponce de Leon Blvd. just north of the central business district, is valued at around $30 million.

The office space will be divided up into smaller units ranging from about 800 sf to 2,000 sf, but buyers can purchase adjacent units and put them together. "We're targeting some of the small businesses and small professional offices …, many of whom are already in Coral Gables and want to take advantage of ownership," Treister tells GlobeSt.com. "There are quite a few people who are buying these smaller units."

All the units will have private-access elevators, at least 10-ft high ceilings and luxury high-end finishes, such as European cabinetry--amenities found in much more costly condo communities. "We generally find that if we can offer a little bit more than what everybody else is offering for about the same price, it will be more successful," Treister says.