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Gables Centre Readies Condo-Hotel Start

CORAL GABLES, FL-The newest condominium hotel project, the 200-unit St. George Residences and Condo-Hotel, will begin to rise in the late summer. It will be the first new hotel built in Coral Gables in 25 years.

By Natalie Keith | Updated on May 09, 2006

CORAL GABLES, FL-Construction is scheduled to begin in late summer on the St. George Residences and Condo-Hotel, a 200-unit condominium project at 2020 Salzedo St. located four blocks away from the Miracle Mile. The project is being developed by Gables Centre LLC.

Gary Prosterman, principal of Gables Centre LLC, tells GlobeSt.com that the project is a joint venture between Memphis-based Development Services Group, which specializes in hotel development, and Atlanta-based City Centre Properties, which specializes in mid- and high-rise residential development.

The project will contain 83 one-, two- and three-bedroom condominium units ranging in size from 792 sf to 1,418 sf and 117 studio and one-bedroom hotel condominium units ranging in size from 428 sf to 928 sf. Preconstruction prices for the condominium units will start at the mid-$400,000s and for the hotel condominium units start from the mid-$200,000s. “It’s a true mixed-used development. Residents of the condominium will have access to the hotel services on an a la carte basis,” Prosterman says.

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