New amenity renderings just landed for Ponce Park, the 11-story condominium rising at 3000 Ponce de Leon Boulevard in Coral Gables, showing off a rooftop pool, a full spa with sauna and steam rooms, and a fire-pit lounge meant to extend the building's living space well beyond its 58 residences. The images arrive as vertical construction ramps up on the site at the intersection of Ponce de Leon Boulevard and University Drive, just steps from Ponce Circle Park, The Plaza Coral Gables, and Miracle Mile.
The renderings, first published by Florida YIMBY, detail a rooftop swimming pool and lounge overlooking Coral Gables, landscaped gardens, lounge areas, a private conference room, and a dedicated spa featuring a reception lounge, private treatment rooms, separate sauna and steam rooms, and a yoga and pilates studio. The building will also include additional wellness and gathering spaces scattered throughout, and ground-floor plans call for an active pedestrian frontage designed to activate the surrounding streets. Interior designer Will Meyer described the approach as a warm, contemporary interpretation of Mediterranean living, per the same report.
Meyer Davis, the firm handling Ponce Park's interiors and amenity spaces, is leaning on natural stone, wood, plaster, and filtered natural light throughout the building. Landscape architect Andres Arcila of Naturalficial is shaping the outdoor gardens, while architecture credit for the project spans Zyscovich and John Cunningham. W. A. Spencer Morris, of developer The Allen Morris Company, said Ponce Park was envisioned as a complete living environment extending beyond the units themselves, according to the outlet's report.
From 171 Units to a Boutique 58-Residence Tower
Ponce Park wasn't always this small. The project was originally proposed in 2021 as a denser 171-unit condominium tower before being redesigned into its current 11-story, 58-unit layout totaling 154,000 square feet, according to Multi-Housing News. The scaled-back version now features residences ranging from 1,900 to over 6,500 square feet across two- to five-bedroom layouts, with 11- to 12-foot ceilings, private elevator access, and 12-foot deep terraces fitted with summer kitchens, per Florida YIMBY. Prices start at $3.1 million, and the outlet reports that One Sotheby's International Realty is handling residential sales.
The building will also carry 22,000 square feet of ground-floor retail, anchored by Quintín, which is planned to provide indoor and outdoor dining along Ponce de Leon Boulevard. Coral Gables commissioners unanimously approved zoning changes and alleyway vacations for the site in 2024 after Allen Morris agreed to contribute $2 million in public improvements and fund potential budget gaps for an $11 million renovation of the adjacent, city-owned Ponce Circle Park, according to The Real Deal.
Italian Stone and a Nod to Merrick's Vision
Ponce Park incorporates references to Coral Gables' Mediterranean Revival character, a design mandate tracing back to city founder George Merrick. The developer hand-selected natural stone cladding and marble directly from Italian quarries, including regions stretching from Tivoli to the Apuan Alps, to establish the building's Mediterranean material provenance, according to a report from PROFILEmiami.
Construction began in December 2025, and PROFILEmiami reported in July that Allen Morris had completed demolition of existing structures at the site and opened a new on-site sales gallery to support the upcoming vertical build. Kast Construction is serving as general contractor, with completion anticipated in early 2028.
A $132.5 Million Bet Backed by Early Sales
The project's momentum is underpinned by serious financing. In January, The Allen Morris Company secured a $132.5 million construction loan from Bank OZK to fund Ponce Park, with debt financing arranged by Lotus Capital Partners, according to Commercial Observer. A developer representative told the outlet that approximately 40 percent of Ponce Park's 58 planned residences were already under contract at the time — a pre-sale threshold lenders typically require before releasing major construction financing.
Just two months before closing that loan, Allen Morris had secured a separate $138.5 million construction loan for Ziggurat, a mixed-use project with office space, retail, and 18 condos in neighboring Coconut Grove, Commercial Observer noted. Founded in 1958 and headquartered in Coral Gables, The Allen Morris Company has completed more than 85 commercial and residential real estate projects across the Southeast, according to South Florida Business & Wealth. The family-led firm also created the city's annual George E. Merrick Award of Excellence in 2008.
Part of a Broader Coral Gables Building Boom
Ponce Park is one of several luxury mid-rise projects drawing institutional capital to Coral Gables this year. Lenders issued $60 million in construction debt for the nearby 117-unit Seventeen Gables Condominium in February, a deal Hoodline reported cited Ponce Park's loan as evidence of strong lender appetite for high-end for-sale housing in the area. Just Thursday, Hoodline also detailed the 161-unit Aurelian, another Coral Gables luxury residential tower moving forward with an $18 million land investment and bronze art commitments.
Allen Morris has continued expanding its footprint beyond Coral Gables as well, securing a $43 million construction loan in May for Sarasota Bayside North, a waterfront apartment development on Florida's Gulf Coast. Together, the projects illustrate a developer running multiple luxury pipelines simultaneously across Florida's high-income submarkets, even as Ponce Park's amenity renderings offer the clearest look yet at what buyers paying upward of $3.1 million will get for their money.
