Terra Launches Luxury Rental Tower in Miami's Coconut Grove Neighborhood.
August 18, 2016
With demand for market-rate apartments in South Florida on the rise, Miami-based real estate development firm Terra is bringing luxury rental living to the city’s historic Coconut Grove neighborhood. Renovations atBayshore Grove, a 98-unit apartment building, are expected to be completed in August with residents moving in by early September. Terra is completely revamping the existing seven-story property, located at 2655 South Bayshore Drive, with upgrades being made to all units along with the complex’s common areas.
Situated across from the Grove Key Marina, Bayshore Grove will capitalize on the influx of new residents moving to Coconut Grove, long known for its bohemian attitude and laid-back waterfront lifestyle. The property is targeting young professionals and millennials who work in downtown Miami and its adjacent neighborhoods but desire easy pedestrian access to a burgeoning collection of new restaurants, bars and nightclub venues.
“Coconut Grove is the perfect location for young professionals and millennials who want to live close to Miami’s vibrant urban core without sacrificing the old-school charm of an authentic neighborhood,” said Terra President David Martin. “We saw that there was demand for this kind of residential product from people wanting to be in the Grove for all the right reasons – location, walkability, proximity to parks and the water. Up until now, their options were limited in terms of housing. Now they’ll have a place to call home.”
KW Property Management is overseeing leasing for Bayshore Grove, which is already underway. Residents can choose from 16 different floor plans with monthly rates for one-bedroom units, available from $1,950 and two-bedrooms, starting at $2,950.
From the exterior architecture to the surrounding landscape, Bayshore Grove puts a premium on superb design. A beautifully canopied deck – with cabanas, loungers, grills, and more – surrounds the outdoor pool, while the interior showcases a tastefully furnished lobby, clubroom lounge area, and state-of-the-art gym. Added amenities and perks at the boutique building include bike storage, 24-hour full service concierge, outdoor yoga/flex space, covered parking, along with available valet dry cleaning and complimentary weekly laundry service for all units; wash, fold and delivery.
Apartment features include hardwood-style flooring throughout; modern designer kitchens with granite countertops and stainless steel appliances; contemporary bathrooms with cantilever white vanities; impact widows and sliding glass doors; and large balconies featuring beautiful skyline and bay views.
In Coconut Grove, Terra is currently developing the Bjarke Ingels-designed Grove at Grand Bay and Rem Koolhaas-designed Park Grove towers. The firm also has plans to develop a mixed-use office and retail development nearby.
Bayshore Grove will be ready for occupancy in September 2016.