Villa Valencia in The Real Deal South Florida
March 26, 2019.
Villa Valencia featured in The Real Deal South Florida’s article titled “South Florida by the numbers: Spotlight on Coral Gables”
Time waits for no town, even one bold enough to call itself “The City Beautiful.” Coral Gables is in the midst of a dramatic overhaul; transforming it from an old-fashioned neighborhood into a fresh, modern, walkable village, while maintaining its historic splendor. Obvious signs include the lovely pedestrian-friendly Giralda Plaza between Ponce de Leon Blvd and Galiano Street (featuring hip bars and restaurants), as well as a forest of construction cranes building new commercial, residential, and hotel offerings along Coral Gables’ main thoroughfares. While many are excited for this long-awaited renovation, others are concerned that it is “too much too soon,” and could threaten the legacy of a city known for slow and strictly controlled development. We explore the changing face of Coral Gables in this edition of “South Florida by the numbers.”
$45 million: Construction loan secured by developer Rishi Kapoor to build Villa Valencia, one of many new condominium projects targeting buyers who are expected to downsize from homes in Coral Gables, South Miami, Coconut Grove and Pinecrest. Kapoor paid $16 million last year for the site at 515 Valencia Avenue, which will house 13 stories and 39 units once completed. [TheRealDeal]