A plain, unassuming 1950s two-story apartment building near Miracle Mile is in a developer's crosshairs. Michael Garcia Carillo's GC3 Development paid more than $2 million for what the sale's broker claims is among the last developable parcels of land in Coral Gables. The existing building will be torn down and replaced with five "ultra-luxe" town homes targeting empty nesters who weren't lucky enough to inherit or buy cheaply-because-they're-in-shitty-neighborhoods brownstones of their own, like their boomer friends in New York, Boston and Chicago.
The developer hasn't released renderings yet, but at $1.7 million a pop, let's hope they're basically copies of the neighboring Almeria Row Townhouses, with their envy-inducing mahogany banisters, private courtyards and louvered kitchen cabinets. It's not much but we know that, instead of a century and more of grit, the five new town homes' facades will be imprinted with Coralina coral stone imported from Santo Domingo.
· Subtle Luxury, Timeless Design [Miami Herald]