If you’ve driven through Coconut Grove lately, you’ve undoubtedly noticed the abundance of residential condo tower construction taking place on such streets as Bayshore Drive. With units starting at $2.8 million in Tower Two, Park Grove is slated to be the most expensive condo development in Coconut Grove, but that’s not deterring buyers. Earlier this year, the developer revealed that Tower Two is 80 percent sold out. As the popularity of luxury construction in Coconut Grove soars, other developers are taking notice and launching projects of their own.
Proposed luxury condo building Bay Colony would require land use and zoning changes.
A new luxury condominium tower could soon begin construction in Coconut Grove at 3851 Glencoe St. by Mercy Hospital. However, the developer, Grove Bay Properties LLC, has to pass a few legal hurdles first. To build the condominium tower on that site it requires a land use and zoning change. Luckily for the developer, it has already been approved by Miami city commissioners.
The site of the proposed 20-unit luxury condo building, named Bay Colony, sits on a waterfront parcel that is currently occupied by a condominium building that was constructed in 1958. The developer is asking for a change to a waterfront setback standard city charter citing that the new development will allow for direct public waterfront access.
Other land use changes include adapting land use to include only low and medium density multifamily residences as well as changing the zone from suburban to urban.
TheRealDeal.com, “Developers plan luxe condos in Coconut Grove,” 8 July 2015
MiamiToday.com, “Luxury condos due on water near hospital,” John Charles Robbins, 7 July 2015