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