Texas developer submits plans for mixed-use tower near Merrick Park
Terrace Mountain Investors bought the acre site last year for $11M
September 26, 2016 12:45PM
Rendering of the Henry in Coral Gables
A Texas-based developer wants to build a 10-story, mixed-use tower in Coral Gables.
Terrace Mountain Investors IV submitted plans to the city for the Henry, a project planned for a 1-acre site near the Shops at Merrick Park, at 4015 to 4131 Laguna Avenue. The developer submitted plans for the 152,212-square-foot development with 122 residential units, 10,014 square feet of retail space, 2,572 square feet of office space, and 229 parking spaces, according to the South Florida Business Journal.
Behar Font & Partners’ plans for the project include an amenity deck on the rooftop with a pool and club room, and a fourth-floor garden deck on top of the parking garage. Units would range from 689 square feet to 1,762 square feet.
Terrace Mountain Investors, led by Frank Trabold, bought the development site, which currently includes two office buildings, for $11 million in 2015. It’s also three blocks west of developer Ugo Columbo’s The Collection dealership and the site of his Collection Residences, a mixed-use project that hasn’t progressed since Masoud Shojaee has pulled out of his joint venture with Colombo.
Closer to Merrick Park, Hersha Hospitality Trust plans to build a 135-room, $35 million hotel on vacant land at 4241 Aurora Street. Roger Development Group is also building Laguna House, a 10-story, 13-unit luxury condo at the Shops at Merrick Park. [SFBJ] – Katherine Kallergis
Source: The Real Deal