Mexican Companies Investing in Coral Gables
By JM Padron, CCIM, CCP, MRICS, CCIM, CCPP, CRB, MRICS
(LA ROSA CRE)
On June 12th, the Coral Gables commission approved the city’s biggest development project ever—“The Mediterranean Village” a 7.1-acre Coral Gables project once known as Old Spanish Village.After more than three years of hard and persistent work the project got finally approved. The massive $500 million plan developed by Agave Ponce LLC will include: a high-end business hotel office space restaurants, retail establishments and a gym 214 condo units and 15 townhouses. Construction paper work will take about six (6) months, plus three (3) months to apply for building permits. The project is estimated to be completed in four (4) years including the paper work and permitting time.The developer is Agave Holdings, LLC a company related to the tequila giant José Cuervo. Agave is the owner and o...
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