Weitzer's 106-Unit Trio Expects $67M Sell-Out

CORAL GABLES, FL-Villa Zamora, the first of three mid-rise condominium developments planned by Davie-based Weitzer Communities, has broken ground at 118-126 & 134 Zamora Ave. in the north central area of the Gables. Villa Alhambra at 32-50 Alhambra Circle in the Downtown District and Valencia Grande at 650 Valencia Ave. in the Biltmore District will soon follow.

The trio has an aggregate of 106 residential units. The anticipated sell-out totals $67 million. All are designed by locally based Bellin & Pratt Architect in traditional Coral Gables Mediterranean-style with archways, columns and gardens. Miami-based Fortune International Realty is marketing all three.

Villa Zamora is a five-story building with 38 two- and three-bedroom units in six different floor plans, all fronting Zamora Avenue. They range from 1,357 sf to 1,604 sf, and pre-construction prices begin in the $400,000s and reach to the $700,000s for an estimated $19-million sell-out. Completion is scheduled for May 2006.

Villa Alhambra is a four-story building over enclosed, partially underground parking. It has 36 units ranging from 1,157 sf to 2,860 sf in 10 different floor plans. Twelve are two-story townhomes with frontage on Alhambra Circle; the others are single-level units on the building's top two floors. The condo unit pricing is between the $400,000s and $500,000s, and townhomes range from the $900,000s to over $1 million. Sell-out is estimated at $23 million, and completion is set for July 2006.

Valencia Grande is a five-story structure with 32 units of four different layouts ranging from 1,934 sf to 2,364 sf. All have two bedrooms, three baths and a den. Pre-construction prices reach from the $700,000s to more than $1 million for a $25-million sellout. Delivery is expected in October 2006.

Each property is true to its individual neighborhood and to the city's European motif, according to Jim Rosewater, Weitzer partner and project directors, "and all are in immediate proximity to the Gables' many area businesses, restaurants, cafes, shops, entertainment and galleries." The cost of land and construction is undisclosed.