|Location||Coconut Grove, Florida|
Approximately 170,000 SF Retail Center
402 Multifamily Units
|Project Type||Transit-oriented Mixed-use Development|
The residential component of Grove Central will include 402 Class A multifamily units, over 23 stories, and will be seamlessly integrated into the retail component of the project, the pedestrian plaza, and the Coconut Grove Metro Station. Grove Central will be within walking distance to the center of Coconut Grove, Miami’s oldest neighborhood and home to premium shopping and dining in an eclectic setting adjacent to Biscayne Bay and covered by one of the region’s most verdant tree canopies. By way of a 10-minute ride via the Metrorail, residents will be able to quickly reach the employment hubs of Downtown Miami and Brickell without having to drive a personal vehicle on the heavily-transited US1 corridor. When compared to comparable developments with multifamily units in Coral Gables, South Miami and Dadeland along the southern leg of the Metrorail, Grove Central will offer the most central location. Lastly, Grove Central will offer residents the most complete amenity offering of any multifamily rental property in Coconut Grove by way of both indoor and outdoor common areas on the seventh and eighth floors of the tower: party and lounge rooms, golf simulators, an outdoor movie theater, resort-style pool, outdoor yard terrace and a co-working space, among others.
Approximately 170,000 SF of premium retail space is currently pre-leased to Target and Total Wine, and has precommitments totaling 80% of the overall space (inclusive of Target and Total Wine) to national grocer, anchor and gym tenants. Additionally, the development’s proximity to the Metrorail will further increase the retailers’ trade area to serve patrons from areas adjacent to the network’s stations in Miami-Dade County. The retail space at Grove Central will be arranged in a high-density and walkable environment to complement the multifamily units and to foster a new neighborhood hub with pedestrian connections to both the Coconut Grove Metrorail Station and the to-be developed Underline linear park.