Progress made at Old Spanish Village

CORAL GABLES - Old Spanish Village, the $350 million New Urbanism development in Coral Gables, is progressing steadily. The exterior structure of the first building, part of Phase I of The Villas, is complete. Underground utilities and underground infrastructure are 90% complete. Construction of Phase I began in April 2008, and the first of seven buildings in this phase will be complete in April.

The Spanish-inspired grand archway, which serves as the village’s entry and symbolizes the realization of the vision of Coral Gables’ founder George Merrick, was inaugurated in January.

To date, approximately 40% of the luxury units in the 49-residence El Prado, part of Phase II, have been reserved. Construction on El Prado will begin in the third quarter of 2009.

Ponce Circle Developers is a joint venture between racing-promotion legend Ralph Sanchez and prominent regional development firm Mas Group.
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