A Coconut Grove parking garage built in the 1980s will be transformed into “Mary Street,” a contemporary mixed-use development by Terra and Mayfair Real Estate Advisors.
Designed by Touzet Studio and located on the edge of Cocowalk at 2860 Oak Avenue, the development will be comprised of 75,000 square feet of Class A office space, 20,000 square feet of retail, and parking, becoming the first newly built office building in central Coconut Grove in over 20 years, per the press release.
Terra is deeply rooted in new Grove developments with two residential projects in Grove at Grand Bay and Park Grove, both located a few blocks away.
“As a longtime stakeholder in Coconut Grove, Terra believes safeguarding the neighborhood’s unique character means creating sustainable developments, walkable streetscapes, and a mix of commercial and residential uses that allows people to live and work in close proximity,” said Terra president David Martin. “Our plan for Mary Street will be consistent with that vision. Equally important, our proposed redevelopment of a dated site will generate additional tax revenue for the City without exploiting the site’s full allowable density while adding new parking capacity throughout the Grove.”