Developer Harvey Hernandez says the project fills a demand for affordable luxury condos in a desirable location, as it will be close to Coral Gables, Coconut Grove, Downtown and Brickell Avenue, and the beaches. Part of the Mediterranea philosophy is attractive pricing. "Few new luxury condominiums offer residences from under $200,000," says Hernandez. "Buyers have been very responsive to the total package value."

Development amenities will include a large pool, a landscaped sun deck, a covered patio, and a gazebo and barbecue area on the fifth floor; a fitness center, a lava rock sauna, covered parking, a dog walk area, 24-hour controlled access, and a clubhouse with a lounge, a bar and a billiards table. In addition, the project will include 8,500 sf of ground-floor retail space. Residences will include fully equipped kitchens with European-style cabinetry, granite countertops and stainless steel appliances, large living rooms with private terraces, imported ceramic tile and floor-to-ceiling windows.

The project sales center is set to open soon. Sales launched in December, and 60% of the units have been sold.