Search
 

Office Building Makes Way for Condos

CORAL GABLES, FL-A five-story office building is being torn down and a new 14-story, 83-unit condominium project will be developed on the site by two-year-old H&H Development Co. The project's completion is planned for the fourth quarter of 2005.

By Melissa Bogdany | Updated on May 06, 2004

CORAL GABLES, FL-Demolition has begun on a five-story office building at the future site of Douglas Place, a 14-story, 83-unit boutique condominium property. The project is being developed by H&H Development Co., a locally based real estate investment and development company formed in 2002. The project will be located near Coral Gables at 60 N.W. Douglas Rd.After the office building is demolished, developers plan to start clearing the site. Construction is set to begin in June, and the project is expected to be completed in the fourth quarter of 2005.The project’s sellout value is $20 million. The 887-sf to 1,330-sf units are priced from $182,000, while penthouses start at $272,950. The project also will include 5,500 sf of ground-floor retail space. Amenities include a fourth-floor recreation area with a sun deck, a pool and a covered terrace, a clubhouse with a lounge, a bar and a billiards table, a fitness center and a barbecue area.H&H Development, which has seven ground-up development projects in its portfolio, is projecting $100 million in revenue this year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.