BAM Development, Ascendra Capital Break Ground On Seventeen Gables Condo In Coral Gables

• 117-unit condo project breaks ground at 1715 Douglas Road in Coral Gables
• Developers secured a $60M construction loan and launched sales simultaneously
• Units start in the mid-$600K range, targeting “attainable luxury” buyers

What The Project Brings To Coral Gables

A new condo development is officially underway in Coral Gables as BAM Development and Ascendra Capital break ground on Seventeen Gables. The 117-unit project is positioned along the Douglas Road corridor, a key growth area connecting Coral Gables to Brickell and Downtown Miami.

What The Financing And Timing Signal

The developers secured a $60 million construction loan and are moving forward with construction at the same time as launching sales. This approach is less common in today’s market, where many projects wait to hit pre-sale thresholds before breaking ground. It signals strong confidence in demand and capital backing.

What The Pricing Strategy Targets

Units are priced starting in the mid-$600,000s, a relatively rare entry point for new construction in Coral Gables. The project is being marketed as “attainable luxury,” aiming to capture buyers priced out of higher-end developments while still offering premium finishes and amenities.

What The Design And Amenities Offer

Interiors are designed by Karen Asprea, blending a New York-style aesthetic with Miami’s lifestyle-driven design. The building will feature a full amenity package, including a fitness center, pool, sauna, co-working spaces, and resident lounge. The goal is to appeal to modern buyers seeking both convenience and lifestyle.

What The Location Adds To Value

Located near Miracle Mile, the project benefits from walkability to retail and dining while offering direct access to major employment hubs. Its positioning between Coral Gables and the broader Miami urban core makes it attractive for both end-users and investors looking for long-term appreciation.

What This Means For Investors And Developers

This project highlights the continued demand for mid-tier luxury products in South Florida, especially in supply-constrained submarkets like Coral Gables. For investors, the combination of early construction start and competitive pricing could support strong absorption. For developers, it reinforces that well-located projects with disciplined pricing can still move forward despite broader market uncertainty.