Developer to break ground on 194-unit apartment complex

November 11, 2014, Author: South Florida Business Journal

The Gables Prado apartment complex is set to break ground in West Miami with 194 units on the way.

The project is a joint venture between Estate Investments Group, Mattoni Group and Fortune Capital Partners. They paid $6 million in July for the property at 950 S. Red Road, which is just west of Coral Gables.

The official groundbreaking will take place on Nov. 20 at 2 p.m. at the construction site.

Gables Prado will offer units ranging from one to three bedrooms, with some having wrap around balconies. The 300,000-square-foot building will have covered parking, a pool with cabanas and grills, a fitness center, saunas and a raised garden.

Some of the units will have a live/work design.

The same development team is also building Gables Gate Tower in West Miami.