Co-developers are Miami-based architect/developer Treister Design and Development Inc. and luxury homebuilder Shear Development and Construction, also of Miami. Charles Treister, president of the company that bears his name, designed the Mediterranean-style building with area architect Fullerton Diaz.

Described as a boutique project, Ponce De Leon is a 14-story building with residences beginning on the sixth floor. Selling prices for the one-, two- and three-bedroom units starting in the high $200,000s, $350,000 and $450,000, respectively, with penthouses reaching beyond the $500,000 level. Each residential unit has a private elevator, "the only new condominium in this price range to offer that," says Gary Shear, president of Shear Development. Units also have 10-foot ceilings, large balconies, and upscale appliances and finishes. There are no more than six units a floor.

Marketing for the project began in July 2004. Just one penthouse unit on the top floor remains available. The office area is in a two-story arcade and just one space of approximately 2,500 sf remains available.

The property is located at 1607 Ponce de Leon Blvd. on the new Coral Gables Trolley route. It has 24-hour concierge, landscaped pool deck, exercise room and sauna, and a covered outdoor entertainment area. Completion is scheduled for late spring or early summer 2006. On the strength of the pre-sales at Ponce De Leon, Treister says the development team "is working on new projects and continues to search for additional development opportunities in Coral Gables and elsewhere."