As Coconut Grove regains its appeal as a thriving commercial district, two of the neighborhood’s deepest-rooted developers are transforming a 1980s-era parking garage into a contemporary mixed-use building that will meet growing demand for office space and prime retail.
Developed by Terra in partnership with Mayfair Real Estate Advisors, the Touzet Studio-designed complex — named “Mary Street” — will include 75,000 square feet of Class A office space, reimagined retail storefronts at street-level while retaining a public parking garage. Construction will begin in early 2017.
Mary Street will mark the first delivery of new Class A office space in central Coconut Grove in more than 20 years, following the completion of Terra’s new Grove at Grand Bay condominium two blocks away. Mary Street and Grove at Grand Bay, along with Terra’s Park Grove residential complex now under construction nearby, represent a new wave of design-driven urban infill development reflecting Coconut Grove’s strong residential demographics and allure as one of South Florida’s most walkable urban neighborhoods.
“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 David Martin, Terra president. “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.”
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