By Coral Gables Gazette staff

Two major multifamily developments are set to bring a combined 362 new apartments to the North Gables, representing one of the largest waves of residential construction ever along the Galiano Street corridor. Coral Gables–based Shoma Group and Swiss-based Empira Group each announced plans, with construction slated to begin next year. Rising just two blocks apart—one on SW Eighth Street and the other on East Ponce de Leon Boulevard—the projects illustrate both the reach of Florida’s Live Local Act and the continuing appeal of Coral Gables to global investors in luxury housing.

Shoma Group introduces first Live Local Act project in Coral Gables

Shoma Group, led by Masoud and Stephanie Shojaee, will build Ponce 8, a 16-story tower with 201 apartments at 3808–3850 SW Eighth Street. The plan also includes 18,000 square feet of commercial space, with the potential for cafés, convenience shops, or neighborhood services that activate the building’s ground floor.

The project marks the first use of the Live Local Act in Coral Gables. Enacted in 2023 and amended in 2024 and 2025, the law allows developers to exceed local zoning limits on height and density when at least 40 percent of apartments are set aside for workforce or affordable housing. Units must remain restricted for 30 years, serving households earning up to 120 percent of the area median income.

At Ponce 8, about 81 apartments will meet that workforce threshold, while the remainder will be leased at market rates.

The tower is designed by PPKS Architects of Doral. One of its principals, Peter Kiliddjian, is a former member of the Coral Gables Board of Architects, appointed under City Manager Peter Iglesias. The project also draws on the city’s Mediterranean Bonus, which encourages larger buildings in exchange for design features that reference Mediterranean Revival architecture. Without the bonus, the site would have supported a lower-rise structure.

Ownership of the 0.8-acre parcel is currently divided among Jilk Investments and ABC Development, led by Jorge Gonzalez, along with S17TPA Corporation, managed by Adolfo, Alain, and Amanda Bonvecchio. Shoma has the land under contract; financial terms have not been disclosed.

Construction is expected to begin in the second quarter of 2026, with completion projected by mid-2028.

The plan follows Shoma’s recent pivot away from a Bird Road project in Miami, where the firm sold a 748-unit twin-tower site to 13th Floor Investments, LeFrak Organization, and Related Group. That site changed hands for $35 million in March 2025, just above Shoma’s $34 million acquisition price three years earlier. The move reflects a strategic return to Coral Gables for the Shojaees, who are positioning Ponce 8 as both a housing initiative and a commercial anchor for the neighborhood.

Empira Group enters Gables market with The Aurelian

Just two blocks north, Empira Group of Switzerland has acquired 912–921 East Ponce de Leon Boulevard for $18 million and will develop The Aurelian, a 12-story luxury residential building with 161 apartments.

Designed by Behar Font, the Coral Gables firm co-led by Robert Behar, the project will emphasize high-end design and amenities. Behar, whose fourth term on the city’s Planning and Zoning Board as a Mayor Vince Lago appointee concluded May 31, is known for his long involvement in local planning issues. The Aurelian will include one- to three-bedroom apartments, each with private balconies and upgraded finishes. The building will cover two corners of a residential block, offering views toward both Downtown Coral Gables and Brickell.

Amenities are set to include a landscaped pool deck, trellised outdoor lounges, a fitness center, and a yoga studio. The plan also provides 5,000 square feet of public park space with a children’s play area, adding green relief to a densely built section of the city. Residents will have access to a 248-space garage.

At the building’s entrance, internationally known artist Michele Oka Doner will create a bronze sculpture designed to “evoke a golden glow.” Oka Doner’s past commissions include installations at Miami International Airport and the University of Michigan.

“Residents will enjoy unmatched walkability, along with a full suite of premium amenities designed to elevate everyday life,” said Branko Kuzmanovic, Empira’s Director of Acquisitions, in published remarks. Rafael Aregger, Head of U.S. Investments, added that limited land supply in Coral Gables made the opportunity “something Empira couldn’t pass up.”

Groundbreaking is anticipated in early 2026, with completion projected for 2029.