A developer wants to build a condominium and hotel project in a busy stretch of Coral Gables.
Gables Station LLC, an affiliate of NP International, filed plans with the city to build 554 luxury condos, 168 hotel rooms and 87,900 square feet of ground floor retail at 215 and 251 S. Dixie Highway. The 4.3-acre site touches Grand Avenue and has the Metrorail running along it. It’s currently a parking lot for a car dealer.
The application went before the city’s Development Review Committee on Jan. 29 and needs further review to move forward. The architect on the project isGensler.
The developer estimated the project would rise 155 feet and cost $160 million to construct. NP International is the same group that has proposed Paseo de la Riviera further south in Coral Gables. The latter project is seeking final city approval after the developer agreed to lower its height.
For Gables Square, the developer promised to fund improvements to the land under the Metrorail with parks and walkways as part of the Underline, a proposed pedestrian trail along the Metrorail from Brickell to Dadeland.
“At long last, the city will have a high quality hotel in close proximity to the Village of Merrick park, vacant parking lots which have been a longtime scar along one of the major traffic arteries of the city will be converted into the largest single new addition into the city’s exciting and emerging mixed-use district and the first ever full segment of the ambitious Underline project will come to fruition in the City Beautiful,” said Gunster attorney Mario Garcia-Serra in a letter to the city on behalf of the developer.
The traffic study for Gables Square estimated it would generate a net increase of 388 trips during morning rush hour and 427 trips during afternoon rush hour. South Dixie Highway is often packed during those times.
Gables Station LLC acquired the property in 2005 for $24.65 million.