JV Breaks Ground on $350M Mixed-Use Development in Coral Gables

Ponce Circle Developers L.L.C., a joint venture between Ralph Sanchez and Mas Group, has begun work on Old Spanish Village, a $350 million mixed-use community in Coral Gables, Fla.Upon completion the development will consist of three mid-rise condominiums and 38 villa residences. It will also include the 16-story Ponce de Leon Towers at 2801 Ponce de Leon Blvd., to be developed by The Allen Morris Co. Located outside the city’s Central Business District, Old Spanish Village is four blocks south of Miracle Mile. The village’s mid-rise condominiums, along with the Ponce de Leon Towers, will border Ponce de Leon Boulevard.  The office tower is designed as a silver LEED-certified green building. The amenities will include swimming pools, cabanas, fitness centers, common areas and covered parking. Villas will also include private rooftop terraces, private elevators, individual emergency gas generators, two-car garages, a butler’s pantry and a separate laundry room.The lead architect for the development is Jorge Hernandez, with funding provided by First Bank of Puerto Rico and construction by JCON Group.  “We are moving ahead nicely with this development, which we see as a showcase for our abilities and experience,”  Alberto Perez, a principal of the Mas Group, said in a release.  “This is going to be our finest work.”