Concrete is finally climbing skyward on the Four Seasons Private Residences in Coconut Grove, as the 20-story tower begins to poke above its footprint along Bayshore. Rising on a waterfront site at 2699 South Bayshore Drive, the project is slated to deliver 70 private residences, including a limited collection of penthouses, with completion targeted for mid-2028. Developers say the turn to vertical construction follows the close of construction financing and steady presales.
Construction milestone
Recent site photos show the ground floor largely formed, with decking work in progress on the southern side and shear walls taking shape across the slab. The early elevated concrete work and the now-enclosed elevator core signal the shift from foundation work to a stacked structure. As reported by Florida YIMBY, those images accompanied word that the project had officially moved into its vertical phase after financing closed.
Big-bank financing closes the gap
Developers CMC Group and Fort Partners secured a $323.8 million construction loan from Bank OZK, a deal that helped push the project out of the ground. "The level of interest was exceptional, with more than 10 lenders providing highly competitive terms," CMC Group's Ugo Colombo said in a statement, according to Commercial Observer. The loan covers construction on the roughly 1.2-acre Bayshore site and follows demolition of the nine-story office building that previously stood on the property.
Design, homes and Four Seasons service
Designed by Revuelta Architecture International, the tower is planned with interiors by Michele Bönan and residences that span roughly 2,025 to 3,975 square feet, plus four penthouses measuring up to about 9,690 square feet. Each home is slated to include private elevator entry, open-plan layouts and ceiling heights of approximately 10 to 11 feet, according to the Four Seasons Private Residences Coconut Grove website.
Residents are expected to get a resort-style amenity lineup, including a pool deck, restaurant and fitness and wellness spaces, along with Four Seasons-managed services such as a Director of Residences, lifestyle management, in-residence dining and housekeeping, per the project website.
Market context and sales
Sales launched in 2024, and the development has attracted buyers from the local market as well as national and international audiences. The development team has told lenders that more than 50 percent of the residences are already presold. That presale activity played a central role in securing construction financing and lines up with a recent run of large loans in Coconut Grove, which lenders regard as one of Miami's most sought-after neighborhoods. Commercial Observer reports that the presales and loan activity supported the project's move into vertical construction.
What this means for Coconut Grove
The tower is rising on the former site of Offices in the Grove, which CMC Group acquired before demolishing the 1972-era office building, a sequence detailed by The Real Deal. It arrives alongside other big-ticket projects nearby, including Terra's Well Coconut Grove, which recently closed a roughly $410 million loan.
Once complete, the Four Seasons-branded residences will add a full-service, hotel-style residential option to the Bayshore frontage. Developers and the sales team continue to market the remaining inventory, with delivery still projected for mid-2028, according to the project website.
