Construction Update On CMC Group’s Vita At Grove Isle In Coconut Grove Posted on March 20, 2024March 20, 2024 by Sarah Elles Boggs One year has passed since Ugo Colombo’s CMC Group broke ground on Vita at Grove Isle and everything is moving along as scheduled. The seven-story boutique condominium has now surpassed the halfway mark of their 2-year build schedule and is nearing top-off. Located on the Northern pointe of Coconut Grove’s 20-acre private island named Grove Isle, the seven-story project is deceiving in that the curved structure is actually three separate buildings that are joined. This allows for the curved exterior to maximize the view for each of the 65 private residences. In January of 2024, CMC Group was awarded a massive $239 million construction loan from Bank OZK. This infusion of financing will complete the tower, taking into consideration the strength of the developer and the sales contracts received from the pre-construction selling period. It is expected that the conjoined buildings will reach full height by the summer, allowing for closings to begin in the summer of 2025. Aerial of Vita at Grove Isle Construction Progress March 2024 Developer Ugo Colombo’s Thoughts One of the aspects of this project that stuck out to Ugo Colombo early on was the location at 5 Grove Isle Drive is truly unlike any other in the city. Not only is it the last available site for a project on Grove Isle, but the last waterfront development site in all of Coconut Grove. Pairing the last waterfront development site with Coconut Grove’s new status as the “it” community for the area’s elite, something truly substantial had to be planned. The ambiance that he planned was 65 boutique residences that are evocative of living in waterfront single family estates, with the level of convenience and service that condominium living is able to offer. In a statement, Mr. Colombo said, “Vita at Grove Isle will be the cornerstone of Grove Isle’s renaissance, bringing back the spirit of its glory days while ushering in a new era of luxury that the island has yet to see. Once complete, Vita will be a haven for residents and its island neighbors who seek a waterfront escape, complete with a Michelin-quality restaurant and clubhouse that’s just minutes from a walkable, family-friendly neighborhood with endless live-work-play options.” Those who are curious of the quality that comes with an Ugo Colombo-developed project can see some examples of his work locally at the famed Grovernor House, which was completed in 2006. In Brickell, he added towers that include Santa Maria from 1996, Epic Residences from 2008 and Brickell Flatiron, which was completed in 2019. One of the most notable characteristics I can point out as a professional in the local marketplace for over 15 years, the projects developed by Ugo Colombo do not show their age. Even buildings he built 30 years ago stand tall in the skyline with timeless design and quality. This will certainly ring true for Vita at Grove Isle as well as the newly announced Four Seasons Coconut Grove that will be built just across the private causeway. Vita at Grove Isle Boat Dock Rendering Inside Vita at Grove Isle As the construction wraps up on the structure, making way for the interior finishes, let’s talk about what those will entail. The project is designed to offer resort-style amenities to a select few, this includes a Vista at Grove Isle Club. Vista at Grove Isle Club is a private club exclusive to residents. The club offers a pool and adjacent bar with night-lit tennis, padel and pickleball. Guests will also be able to enjoy gourmet restaurant and bar options and access to the private marina. The residence-style layouts include private elevators to each home with expansive views from the 13-ft deep terraces. The kitchens are stylishly integrated with concealed appliance suites, book-matched marble backsplashes and counters and masterfully crafted stonework. Layouts of the exclusive residences include three-, four-, and four-plus-den layouts that start at $6 million. Exclusive penthouses with rooftop terraces measuring 6,600 square feet and private pools are priced from $19.5 million. If you are interested in a presentation and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman AND long-time Coconut Grove resident. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Image Credit: CMC Group Vita at Grove Isle Construction Progress March 2024 Rendering of Vita at Grove Isle Entry Rendering of Vita at Grove Isle Primary Bath Rendering of Vita at Grove Isle Kitchen Rendering of Vita at Grove Isle Balcony
Ugo Colombo Plans To Build Four Seasons Coconut Grove Posted on August 3, 2023 by Sarah Elles Boggs Just as Ugo Colombo prepares to deliver Vita at Grove Isle relatively soon, it looks like he’s already planning his next steps in Coconut Grove, and they are exciting! We will more than likely be getting a Four Seasons Coconut Grove soon, according to The Real Deal. Sources have revealed that CMC Group has partnered with Nadim Ashi’s Fort Partners, who owns all of the Four Seasons-branded properties in Florida. Neither reps from CMC Group or Fort Partners have officially commented, but The Real Deal isn’t a publication to just make things up, so this is quite exciting! What We Can Verify The new tower is coming. CMC Group does own the building by his own admission and shows in the tax rolls. The site, which is just over an acre shows to be owned by an LLC with the mailing address of CMC Group’s office address. A demolition permit was filed back in 2016-2017, back when the property was held by MAST Capital and some of the neighbors were unhappy. It is unclear whether MAST Capital moved on from the property due to this or other factors, but they sold the investment firm that holds the property to CMC Group in 2020 according to The Real Deal. Whatever happens, it will most definitely be an ultra-luxury tower. The site is surrounded by the likes of Grove at Grand Bay, Park Grove, and The Residences at The Ritz-Carlton Coconut Grove, so a luxurious development like a Four Seasons Coconut Grove would fit right in on the street. It is also just in between Regatta Park and Cocowalk, so there will be plenty of entertainment options. This is indeed very exciting. We will make sure to keep up with every detail we can in order to let our fellow Groveites stay informed. Image Credit: 13th Floor Investments
Onda Residences Bay Harbor Tops Off On Developer Ugo Colombo’s Birthday Posted on March 2, 2023March 5, 2023 by Sarah Elles Boggs Timelessness. What does this word bring to mind? If you Google it, a timeless brand is one that is unique and disrupts the industry. It has a lasting solution or product that can conceivably help users even in the future. Quality over quantity. In a Miami real estate sense, this is a building developed by Ugo Colombo, who is also timeless himself. It hasn’t been disclosed whether there is a correlation or if it is pure chance, but Mr. Colombo celebrates his birthday today and also is topping off his latest project, Onda Residences in Bay Harbor Islands. Long known as a very methodical developer who only has one project under construction at a time, Colombo’s buildings are known to retain their elegance and value for decades. While his next project, Vita at Grove Isle is in the works, it is not yet under construction. Onda Residences Bay Harbor Construction For those who are unfamiliar with Bay Harbor Islands, it is a small residential gathering of islands adjacent to Bal Harbour and Oleta State Park. As many of these areas are water-locked, it is quicker to access Oleta via boat than by car. Being so rich in waterfront real estate, it is the perfect spot for a new boutique development for those who love tranquil ambiance that is also quite convenient to the sand as well as the shopping and other entertainment outlets. Onda at Bay Harbor will be the first new project in the residential enclave to be completed in quite some time, starting a contagion of new luxury projects that are certain to bring a renaissance to the area. Before Colombo set his sights on the area, it was a quiet and tranquil haven for Mimo-style and Art Deco walk-up buildings that are traditionally more affordable than other waterfront properties. As times change in Miami and older buildings give way to newer building technology, neighborhoods change and this is a fantastic outlet for those who will love to be adjacent to extremely high class dining, shopping and other lifestyle amenities while also retaining privacy and quiet security. “Once complete, Onda will be a coveted residential retreat in one of Miami’s most desirable neighborhoods,” said Ugo Colombo, who is the founder of CMC Group. “The building’s boutique lifestyle, idyllic bayfront location, and timeless design will make it a standout property for years to come,” added co-developer Valerio Morabito, CEO of Morabito Properties. Rendering of Onda Residences Bay Harbour Waterfront At just 8 stories tall, the project should be fully completed by the end of the year. Each residence has between 2-4 bedrooms plus a den or office. The square footage ranges from 1,800 square feet up to 3,500 square feet, and penthouses go up to 5,000 square feet with private rooftop pool decks to soak in the bay breeze over the 300-linear-feet of bayfront with a private marina. The interiors are outfitted as can be expected from CMC Group, the same way a Bentley delivers what is expected of their brand. There are ample tiled terraces, private gardens and open floor plans with natural Italian marble flooring, Snaidero kitchens with Miele appliances, and energy efficient heating, air conditioning and water filtration systems. As is the case with most projects that are unique, elegant and well-positioned, Onda Residences has only limited purchase opportunities remaining. The project has 41 residences and is estimated to be 85% sold, with select inventory remaining that is priced between $5 million and $8.4 million. If you are in the market for a residence in an impeccable location, with sleek designs and elegant finishes, this is the place you should look. If you are interested in a private presentation and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Vita At Grove Isle Set To Begin Construction – Completion Timeline Announced Posted on February 23, 2023February 25, 2023 by Sarah Elles Boggs It may look like a luxurious flying saucer rising from a 20-acre private island, but it is actually Ugo Colombo’s latest contribution to Miami’s shoreline. Vita at Grove Isle is preparing to begin construction soon, with completion scheduled for late 2024. The project began at a snail’s pace, riddled with litigation from neighbors on Grove Isle who were not eager to have more neighbors on the private island. After changing hands to Ugo Colombo’s CMC Group, things ran more smoothly. Initially called The Markers, it underwent a complete redesign under the watchful eye of Mr. Colombo, whose other contributions to the skyline include Epic Residences in Downtown Miami as well as Brickell Flatiron in the Financial District and Santa Maria along the quiet South Brickell waterfront. Despite being nearly 30 years old, the most affordable residence in Santa Maria is currently $2 million, but prices in the development routinely average in the $4-$6 million range. Vita at Grove Isle has been scaled back to only 65 residences, so is meant to feel like single-family residences without the upkeep necessary for a stand-alone home. The 7-story project is actually 3 different buildings that wrap along the curve of the Biscayne Bay. Being from Milan, Colombo prides himself in using only the highest-quality materials for every inch of his projects and this shows. Buildings in his portfolio tend to offer more longevity in their beauty and newness than some other projects. For instance, by looking at Epic Residences, you would never realize that this building is 15 years old this year. It appears just as new as Brickell Flatiron, which was completed in 2019. “Each home will have unobstructed panoramic waterfront views and will offer estate-sized condominium living, featuring hand-picked finishes I’ve personally sourced from Italy,” Colombo says. “The care and quality in this project is only made possible through our philosophy of developing just one or two projects at a time—a rarity in Miami.” Vita at Grove Isle in Coconut Grove Rendering Rendering of Vita at Grove Isle Balcony At Vita, each residence will feature bookmatched marble, state-of-the-art designer appliances and cabinetry. Noce Canaletto wood paneling will adorn the walls of the powder rooms with sinks carved from Marquina marble. The atmosphere is tranquil, private and peaceful, with each elevator servicing only 2 residences per floor. This is perfect for people who are phasing out of high-upkeep single family homes but still expect a certain level of service and privacy. Rendering of Vita at Grove Isle Kitchen Rendering of Vita at Grove Isle Dining Room Sales for the project began in late March of 2022, quickly selling 20% of the residences. Select inventory is still available with prices starting at $5 million. Layouts range from 2,500 square feet to 6,500 square feet with penthouses spanning 3,400 square feet to 6,600 square feet. The upper penthouses feature private rooftop terraces with full-sized swimming pools and summer kitchens, from $10 million. Now that potential buyers see that the date of completion is in short sight, we expect that the remaining inventory will be signed for soon. If you are interested in a presentation and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman AND long-time Coconut Grove resident. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.