Shoma Group Plans “Ponce 8,” a 16-Story Live Local Act Tower in Coral Gables with 201 Units

Key Points

• 40% workforce housing: 80 of the 201 apartments will serve individuals earning up to 120% of area median income.

• Mixed-use build: Includes 18,000 sq ft of ground-floor commercial space alongside apartments.

• Expedited approvals: Filing under the Live Local Act may significantly speed up Coral Gables’ typically lengthy permitting process.

Shoma Group, led by Masoud Shojaee and Stephanie Shojaee, has filed ambitious plans for “Ponce 8” — a 16‑story mixed-use project under Florida’s Live Local Act in Coral Gables. This move highlights a growing trend of developers leveraging state incentives to navigate sluggish municipal approval timelines while advancing workforce housing. 

• Developer: Shoma Group—widely recognized in South Florida for mixed residential and commercial developments. 

• Location: 3808–3850 S.W. 8th Street, Coral Gables—currently improved with two small retail buildings from the 1940s totaling approx. 17,000 sq ft.

• Design: A 16‑story tower named “Ponce 8,” featuring 201 apartments ranging from 500 to 1,255 sq ft, plus 18,000 sq ft of commercial space. Amenity deck on the 6th floor includes pool, clubhouse, and coworking area.

• The law allows developers to build to the height/density limits allowed within a one-mile radius, provided 40% of units are workforce housing for those earning up to 120% of AMI. Approvals happen administratively and can bypass lengthy public hearings.

• Coral Gables hadn’t received any Live Local Act applications as of March 2025—making Ponce 8 among the first in the city. 

• Coral Gables offers high rental rates, strong school performance, proximity to corporate offices, and the University of Miami—making it a prime area for multifamily investment. 

• By using Live Local, Shoma Group may speed up approvals in a jurisdiction known for protracted reviews. That’s especially appealing in a competitive South Florida market where timing can make or break a project. 

Ponce 8 marks a timely use of Florida’s Live Local Act to bring needed workforce housing and commercial vibrancy to Coral Gables. With 40% of units reserved for moderate-income tenants, it aligns well with investor demand for scalable, subsidy-friendly multifamily products in high-value markets. If permitted as expected, Shoma’s project could shift the city’s development dynamic—and pave the way for similar ventures. Investors, developers, and brokers should watch this closely.