Coral Gables Commissioners give approval for staff to negotiate with Allen Morris/Related Group on re-development
The proposed re-development – called Coral Gables City Center – was recommended by the City’s Evaluation Committee to be considered by the City Commission
CORAL GABLES, FL. – The City of Coral Gables Commission today approved that city staff begin negotiating with a partnership of The Allen Morris Company and Jorge Perez’ The Related Group for the re-development of two existing parking garages into a mixed-use development.
The development, named Coral Gables City Center, would transform two existing antiquated parking garages, located at 245 Andalusia Avenue and 345 Andalusia Avenue, into a mixed-use community inclusive of apartments, retail and a high-tech parking system.
“We count this as a privilege to have the opportunity to negotiate with City of Coral Gables staff regarding Coral Gables City Center,” said W. Allen Morris, Chairman and CEO of The Allen Morris Company. “We truly believe that Coral Gables City Center will be an extremely positive step to create a truly sustainable, ‘walkable city’, reduce traffic & carbon emissions, and create economic development to re-energize Miracle Mile, while preserving the City’s much-valued heritage.”
The approval for the Coral Gables City Center team to negotiate with staff is a next step in the process as part of their Request for Proposal (RFP) to re-develop the two existing garages.
Designed by Zyscovich Architects, the $250 million proposed development would also feature a significant amount of public spaces, a sky park and roof-top café, among numerous other amenities.
About The Allen Morris Company:
The Allen Morris Company is one of the largest real estate firms in the Southeast U.S. specializing in commercial, multi-family residential and mixed-use developments, leasing and brokerage as well as property management. With offices in Miami, Coral Gables, Fort Lauderdale, Orlando, Jacksonville and Atlanta, The Allen Morris Company has served its business and investment clients for over 58 years. For more information, please visit http://www.allenmorris.com or follow us on Facebook at www.facebook.com/TheAllenMorrisCompany or on Twitter @allenmorrisco.
The Related Group
Established in 1979, The Related Group is Florida’s leading developer of sophisticated metropolitan living and one of the country’s largest real estate conglomerates. Its innovative residential developments, that reach cross-market sectors, have dramatically altered South Florida’s urban landscape. Since its inception, the privately held company has built, rehabilitated and managed more than 90,000 condominium and apartment residences. The Related Group has earned international status for its visionary designs and development of luxury condominiums, market-rate rentals, mixed-use centers and affordable properties – often in emerging neighborhoods that impact the lives of all demographics. The firm is one of the largest Hispanic-owned businesses in the United States with a development portfolio of projects in excess of $15 Billion. The Related Group has redefined the new cycle of real estate by diversifying both its products and buyers, expanding internationally with projects in Mexico, India and Brazil, while sponsoring public art installations that enhance the city’s global culture and streetscapes. TIME Magazine named Founder, Chairman and CEO of The Related Group, Jorge Pérez, one of top 25 most influential Hispanics in the United States, and he’s made the cover of Forbes twice. Currently, The Related Group has over 50 projects in varying phases of development, led by Chief Operating Officer, Matt Allen, and five division presidents, including Carlos Rosso, President of Related Condominium; Steve Patterson, President of Related Development; Albert Milo, President of Related Urban Development; Lissette Calderon, President of International & Strategic Projects; and Larry Lennon, President of TRG Management. www.relatedgroup.com