Watermark Works Up Big Appetite in Coral Gables and Jupiter

CORAL GABLES, FL-Watermark Communities Inc. continues to build out its Deering Bay Yacht & Country Club in this Miami-Dade County community along Biscayne Bay. The Bonita Springs, FL-based company is also working on construction plans for a portion of the 14,808-acre land holdings that WCI purchased last year from the MacArthur Foundation in Palm Beach, Martin and St. Lucie Counties.

On the 220-acre Deering Bay tract, the new Siena Tower, like the Verona building completed last May, will have only four residences per floor on the first 12 floors. The living areas will range from 2,745 sf to 3,669 sf, including balconies and terraces.

The top two levels will each feature three penthouses, with the two center penthouses containing 5,780 sf, including balconies. Unit prices range from $500,000 to just under $2 million.

Located in the southern tip of Coral Gables at 13605 Old Cutler Rd., the Deering Bay site will be limited to 286 residences. Amenities will include an 18-hole Arnold Palmer-designed golf course and three deep-water marinas. Coastal Construction Co., the general contractor, expects to complete the Siena late next year.

Farther up South Florida’s East Coast, WCI plans a $150-million project in northern Palm Beach County that would expand the existing 43-acre Jupiter Yacht Club to include condo apartments, offices, a hotel and retail.

Initial plans show a six-story, 48-unit condo building, the Pointe, to be followed by two more condo structures. Units in the first building would range from 2,200 sf to 4,000 sf in four two-story penthouses. Prices would start at $400,000 and top $1 million for the penthouses.

The Beame Architectural Partnership of Miami designed the condos, as well as the 35,000-sf office building, 119-room hotel and 28,000-sf retail center. O’Connor and Taylor of West Palm Beach is general contractor for the office building, which could go into the ground mid-November.

Plans call for eventual connection of the office building and the hotel through a three-level, 350-space parking garage. The first garage level, starting six feet below grade, would feature store-type showroom windows and landscaping.