Cam Group's $35M State-of-the-Art Medical Complex Vision in Coral Gables

Cam Group, a Miami-based firm, has made a significant move in Coral Gables by acquiring an older office building with plans for a grand redevelopment. This strategic purchase brings new life to the 2.05-acre site at 760 Ponce de Leon Boulevard, along with 112 and 120 Avila Court, in a deal valued at $18.5 million. The project, led by Pedro Camejo and Joel Campo of Cam Group, has been given the green light with a $13 million mortgage from Granada Financial.

Historic Property Transformation

The property, which currently hosts a 17,245-square-foot office building constructed in 1954, has a fascinating history. It was last sold for a mere $2.65 million in 2001, marking a significant increase in its value over the years. Cam Group's vision for the site involves a remarkable transformation into a $35 million, five-story medical office complex known as "760 Ponce," designed by Behar Font & Partners.

Impressive Redevelopment Plans

So, what's in store for this redevelopment project? The proposed complex will span an impressive total construction area of 355,000 square feet. It includes 89,370 square feet of dedicated medical office space, along with 17,260 square feet of ground-floor commercial space. To cater to the needs of visitors and professionals alike, the development will feature 502 parking spaces spread across five stories. For those driving electric vehicles, 26 lower-level parking spaces will come equipped with electric vehicle chargers.

Architectural Brilliance

The design of the complex is nothing short of visionary. Medical offices will occupy the top three floors, ensuring easy access for patients and healthcare providers. Additionally, the project will introduce open-air terraces on the fourth and fifth floors, providing a welcoming and aesthetically pleasing environment. The vision for "760 Ponce" is to replace the outdated office building with a high-quality, mixed-use development designed to seamlessly blend with the city's existing Mediterranean architectural standards, preserving the area's unique aesthetics.

Strategic Location

Coral Gables, known for its high-income demographics in Miami-Dade County and a thriving office sector, proves to be an attractive location for medical professionals. The city's population includes residents who can afford and appreciate high-quality healthcare services. This redevelopment project aligns with Cam Group's commitment to enhancing the medical facilities in the area and providing the community with top-notch medical services.