Grove Bay Residences Condos - Coconut Grove

Related Group of Florida to build Grove Bay Residences

Mercy Hospital, Inc. agreed in November, 2004 to sell 6.6 acres to Boca Raton-based Ocean Land Equities, Inc. for $96 million. The Related Group of Florida will develop this property, with the design by Arquitectonica and will be three buildings situated on Biscayne Bay in the southeast corner of Mercy’s existing property in Coconut Grove.

Grove Bay Residences, will be a three-building mid-rise development, consisting of a total of 300 luxury bayfront residences averaging 3,500 square feet and ranging from $3 million to $15 million.

Jorge M. Perez, chairman, The Related Group of Florida states, "This is one of the most incredible sites in the City of Miami, every residence will have unobstructed water views."

Ocean Land and Related will co-own the land, on which Related will build Grove Bay Residences once the city of Miami issues a zoning variance to allow residential development on the site. The development should generate $13 to $14 million of additional tax revenue for the city.

Re-zoning of this tract of land could take from six to 18 months, but Ocean Land says it is confident the project will garner the support of Coconut Grove residents and the city.

Mercy Hospital's campus is located at 3663 S. Miami Ave., just south of the Vizcaya Museum and Gardens. The property overlooks Biscayne Bay and Grove Isle.

With available South Florida waterfront property increasingly rare for new condominium projects, developers have become very creative in finding vacant waterfront vacant parcels from previously unlikely sources.

The Miami Condo Lifestyle team is very excited about this ultra-luxurious bayfront condminium project. Contact us today about reserving your residence in the Grove Bay Residences Coconut Grove, Florida.

Grove Bay Residences Siteplan

Grove Bay Residences Siteplan

Buying and selling condominiums in the current Miami condo market can be confusing because there are so many projects, developers and options available. Plus there is so much conflicting media information, how do I make an informed decision?

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