Coral Gables

Coral Gables planning board gives early approval to massive development project

The City Beautiful might look very different in the next couple years.

On Feb. 11th, the Coral Gables Planning and Zoning Board unanimously approved the biggest development ever on the drawing board — the Mediterranean Village project developed by Agave Ponce LLC.

For the project to come to pass, it must go before the city commission for first and second reading, and would require a prevailing vote both times. That could take months.

If passed, the mixed-use project would rise on the former Old Spanish Village site on Ponce Circle, just a few blocks south of Miracle Mile.

The Mediterranean Village will encompass almost seven acres. It will include a high-end hotel with 184 rooms; 314,000 square-feet of office space; restaurants, retail establishments, a gym and a multiplex cinema. The project is also slated to include three residential towers with 214 condo units and 15 townhouses.

The project is estimated to cost about $500 million.

Follow @MoniqueOMadanMH on Facebook; @MoniqueOMadan on Twitter.