The Miami real estate market has been less than ripe for many of big preconstruction ventures that have tried to take a foothold in South Florida,  for several years now.  And although many townhouse projects were designed and actively being marketed as pre-construction investments, as the  construction loans came due, developers and investors  of these various pre-construction projects were forced to weigh their options …  

The Venetian Coral Gables has been actively exploring the possibilities of a condo conversion …. as well as the possibility of  infusing additional investment capital…    and the lender  meantime is pressing for re- payment of the over $4 million in outstanding construction loans. 

Had the Venetian Coral Gables project been built, even with the challenges South Florida’s real estate market of the past several years, every single one of those 20 luxury town-homes could have  been sold in my opinion… and easily … because the need  for alternative options OTHER than condo living.  Being able to downsize,  and yet keep a sense of independence as we go from opulent estates and acre properties to being empty nesters is important.

The Venetian was expected to fit the needs of those downsizing … nothing to finish, nothing to upgrade or renovate … the ability to take off on vacation and travel at the turn of a key …   These were to be fully finished, very private, exclusive, luxury 4-story townhouse units priced from $1,675,000 to $1,975,000… and they were to have had outdoor rooftop summer kitchens and elevators, stone flooring, top of the line everything, with European kitchens … and be generator ready.

Prices  plummeted on preconstruction projects in Miami… impacting sales of town house projects in Coral Gables, Coconut Grove and in South Miami …  Pricing in the Cloisters took a nose dive.   Oaklane in South Miami struggled to hold on …  and after many a hiccup, they are now finishing off the last remaining interior spaces on the handful or unsold units.   Oaklane’s 40 townhouse project on Red Road are now close to being sold out.

A number of pre-construction and under-construction projects stopped in their tracks.  The Valencia  in Coral Gables abandoned efforts on the remaining townhomes  there…  Prices slipped as the property went into foreclosure, and a number of  other projects went belly up.  Unfortunate … There are homeowners  all across South Florida, looking for an alternatives to their oversized homes … wanting an alternative to downsizing into condo living … and they have relatively few options …

The market for single family homes seems to have already begun to climb … That is good news for South Florida real estate.  Most pre-construction projects in Miami  … whether they be town homes or condos… are most likely looking to the distant horizon before they’ll see a solid recovery.   What a shame  because there is definitely a market for finished townhomes here in Miami, right now!

If you’re considering buying, selling, leasing or building we’d welcome the opportunity to assist with any and all of your real estate needs.  Call us anytime at 305 793-1365 or feel free to contact the Restivo team here as well.

The developer/builder opted to weather-out the downturn, rather than accept reservations on the Venetian Coral Gables. He  postponed the start of construction, opting to wait for the real estate market to bottom out.  I think it was wise to wait.  The idea was to have the Venetian be very high-end … with every upgrade and amenity possible.  Starting constuction as the domestic real estate market was feeling the pinch, seemed unwise. 

So many of the construction projects that were slated to be built in Miami  a couple of years back were ditched… or forced into using lower end finishes …  They sat empty…  or teetered on or fell into either foreclosure or short sale.   

The end result is that  there are very few upscale townhouse/villa  options in existence now in Miami… yet many buyers looking at upscale townhomes as the ideal.  

We have gotten so many calls over the past couple of months, from  both buyers and agents, looking finished townhomes and villas in Miami … If the Venetian was already built, we could have sold them easily.  But it’s not.  This is a pre-construction project …  open now to taking reservations.

Most  of the calls I’ve gotten want completed projects…ready to move in.   The Venetian hasn’t yet started construction, nor have we broken ground.  There is a distinct  lack of luxury townhomes in Coral Gables …  We are getting calls for finished luxury townhomes …  and don’t have any to speak of ( in Coral Gables or in Miami!).  They simply don’t exist.   

It’s a shame that so many of the projected high-end townhouse projects  were discontinued and abandoned.   I am hoping that  by opening up the Venetian now for buyers to reserve pre-construction ,  that we can move forward on this… If you are  pondering real estate, and where the market is headed, and thinking about selling your home and downsizing… but this not being the ideal environment for that … perhaps this might be an option.  If buying at pre-construction pricing  is something you might like to explore, or if you think moving from a single family home into something less problematic that would allow you more freedom to pack up lock up and travel…. will you call me please?  Or send me a note here.

The Venetian Coral Gables was a GREEN pre-construction project of luxury villas to be built in the heart of residential Coral Gables, slated for occupancy in 2012.  And by the looks of it,  we anticipate  pushing occupancy 2013….  We look forward to breaking ground as the economy turns the corner… and in the meantime now opening this to  pre-construction pricing to buyers who would like to reserve a villa.

The Venetian Coral Gables will be on Sevilla, near the Biltmore … at the south edge of the historic Venetian Pool.  The views will be of  the courtyards,  the tree canopy, the historic Venetian Pool, and the Biltmore Hotel.  And each of the villas will be unique and different, with open free-flowing interiors, terraces and balconies … and  private outdoor utilizable rooftops for relaxing and entertaining.

There will be 20 villas in total, each of them 4 stories high, with individual private residential elevators.  Each will be completed and finished  by the developer…  with stone flooring throughout …  They will NOT  be “decorator ready”.  Most new construction  projects come  ‘decorator ready’…. but not the Venetian.   “Decorator Ready”  is a fancy way of saying “without flooring or  finished interior paint” … which means that  the buyer has to pay additional amounts  for flooring, interior paint, and finishes.  The term has always struck me as rather odd.

No… the Venetian townhomes will notbe decorator ready. (Thank goodness!)   Each of the villas will be finished to the nines…. many of them will have fireplaces, wine cellars…  entertainment areas … and all will have stone floors… and top of the line finishes.    All will have open stairwells, and a sleek, modern look, impact windows and doors,  private 2-3 car garages  (individual for each townhome).   As a buyer,  the only thing you might possibly want to add  might be a rooftop spa tub or possibly a generator.  (Each of the townhomes will come generator ready… and  with plumbing in place for the outdoor spa as well.)

Kitchens and baths will all be Italian designed  … with top of the line appliances from Miele and SubZero.  Mia Cucina in Miami is installing them… and  as a buyer, you will have design options and choices so as to have whatever design/color you prefer.  On the rooftop level, there will be a pergola and an outdoor summer kitchen.  Also on the rooftop level will be indoor entertainment areas … and guest powder room.

There will be 7 Villa designs/floorplans, each ranging from 3,500-3,800 square feet (under air), with additional outdoor terraces and balconies, literally everywhere you look. The enclave is the brain-child of architects Bellin and Pratt… with their European lifestyle design options for the high end consumer in Coral Gables. Each villa will be beautifully designed to appeal to the luxury buyer, with intricate attention to detail, quality, flow and finishes. Rooftop terraces with outdoor summer kitchens and optional jacuzzis will make for the quintessential Miami lifestyle, with luxurious entertaining, and private enjoyment of the inviting outdoor spaces. Each villa will have it’s own  private elevator,  a 2-3 car garage, be prewired for electronic control, and be natural gas generator ready … and each will be Green Certified and Energy Star Rated.

Please don’t hesitate to call either Vicki Restivo (305) 793-1365 or Alexandra Restivo (305) 632-0164  at EWM Realtors…. listing agents for the Venetian Coral Gables.  There are so few options now in Miami to buy pre-construction …  and if you are looking at the possibility of a townhouse/villa as an alternative to condo living… and thinking that it might be nice to untangle yourself  somewhat from having to maintain and oversee a home and grounds and all that that entails …. (without feeling confined by condo living) … we would be pleased to chat with you about The Venetian Coral Gables Villas.  Moving into a condo is not for everyone…. and I for one certainly understand that.  Reserving a villa, pre-construction, might provide  option to explore …  Pricing for the finished units will run from $1.675.000 to $1.975.000.

You’ll be in the heart of historic, residential Coral Gables… with that ‘walkability’ factor…. and the lifestyle that affords.  If you’re thinking about being able to travel more…  come and go as you please… downsize but still have space to breathe … and enjoy the luxury you’re accustomed to…   we would be delighted to talk with you more about the Venetian.   Reserving pre-construction, would let you ride the real estate market out for a while … and wait a bit before listing and selling the property you’re currently living in.   It’s an option that might just work …  Please don’t hesitate to call.  Alexandra and I would love to talk with you …

Our buyer’s requests: a townhouse in a gated community, 5 bedrooms, new construction in Coral Gables, South Miami or Pinecrest. The Venetian Coral Gables was the first community that came to mind. The only problem is that it won’t be built in the timeframe he wants. The other options were Old Spanish Village, Oak Lane, Pine Manor and the Cloisters. After checking them out and weighing his options, our buyer chose Oak Lane.

Remember, the buyer wanted 5 bedrooms (Oak Lane has a max of 3 per unit), so we sat down with the developer and the architect, who were very helpful in coming up with a solution…combine 2 units and make them into one larger one! The architect drew up beautiful plans to accomodate the buyer’s requests, and voila! After negotiations with the developer and finalizing plans with the architect, the buyer ended up buying four units and combining two and two (to make 2 large units).

That’s the beauty with new construction-the developer can work with you to accomodate your needs. We have been a part of this process, step by step, and will be until the project is complete.

If you would like to buy your own townhouse in one of these communities or any other in community, or would like to look into the Venetian Coral Gables and what it has to offer, contact the Restivo Team today! We would love to help you find and create the perfect home for you!

For a variety of reasons, villas and townhouses are a plausible answer to ‘what’s next?’ Whether you want to lock-up and take-off for a well-deserved romp around the globe… or  eliminate  entirely the hassle of maintaining a large home ( and grounds!)…  a townhouse can offer  freedom, without catapulting you into  quarters of claustrophobically minimal dimensions.  If you want  independence and elbow room …  and a condo is just too confining…the answer COULD BE  a townhouse.   

In both Coral Gables & South Miami there are several in the works – some in the development stages (having already broken ground, or about to)…   others ready for occupancy.  They run the whole gamut, with some available for under $500,000.  

The cream of the crop may well run from $1.2 million to nearly $2 million.  Some are located in more commercial settings with easy access to shops, dining and transportation… Others are situated in  absolutely charming residential settings.  Elevators, private garages, butler pantries, fireplaces, and a summer kitchens … are among the selling points that many offer.   Many have abundant outdoor space:  terraces, balconies …   and elegant, simplified luxury. It’s a “home”,  without the concerns a “house” might pose. 

Townhouses and villas are NOT in abundance, by any means, but there’s a smattering of them in Coral Gables, Coconut Grove, South Miami & Pinecrest… all adding a lifestyle option to what was previously limited to single family homes and condo living.  

In Coral Gables you have:

Venetian Coral Gables,

Old Spanish Village   (both preconstruction);  Valencia Gardens (currently under construction); and  Almeria Row, Casa Valencia, Valencia Grande, Villa Alhambra, Bermuda Village, Riviera Town Villas and Deering Bay (already built) … 

In Coconut Grove you have:

 Cloisters on the Bay, &  Abitare in the Grove…

In Miami, near the University of Miami you have Bridgepoint  …

In South Miami you have Oaklane (under construction) and Pine Manor (already built). 

And in Pinecrest you have the French Village.  Contact us for further information on buying or selling real estate in Miami… townhomes, condos, or homes.    We will be more than happy to assist you.  Alexandra Restivo restivo.a@ewm.com  or Vicki Restivo restivo.v@ewm.com      -   www.MiamiRealEstateCafe.com  Cercasi CASA a MIAMI?  Agencia Immobiliare EWM Realtors, International  305-793-1365

In honor of Earth Day and Earth Week,  here are a handful of ways to  “Green Your Home For Less”:

Here are the 12  Top Eco-friendly Homeowner Tips to Green Your Home and Save Money:

#     Top Ranked            Eco-friendly Savings Solutions                                                                                                                 

1.     Window/Door           Impact glass/double-panes                                                                                                                                      

2.     Water Usage             Low flow toilet/showerhead                                                                                                           

3.    Water Efficient           Tankless water heater                                                                                                                         

4.   Appliances                    Energy Star Rated:Washer/Dryer/Dishwasher /Oven/Refrigerator                          

5.   Insulation                     Sprayed/Rolled/Radiant Barrier (attic,exterior walls)                                                   

6.   Pool                                Operate Pool pump  4-6 hrs                                                                                                              

7.  Electricity                      Energy efficient bulbs                                                                                                                      

8.  Heating/Cooling          High Efficiency A.C. Unit/frequent filter changes                                                              

9. Electric Usage                Reduce high energy culprits: Oven& Iron                                                                                

10.Renovations                  Incorporate recycled materials                                                                                                      

11: Shade                              Plant trees and  Install Awnings                                                                                                      

12: Back to Basics              Air dry dishes & clothes

The author’s personal favorites, both green certified  and energy star rated Miami properties, are The Venetian Coral Gables Townhomes and Smather’s Four Fillies Farm in Pinecrest.

High ceilings, and a private four-story villa in the heart of residential Coral Gables.  Individual access through a single private elevator…  Yours.  ( There’s home…  There’s work…. And there’s more. There’s Miami, and there’s The Venetian Coral Gables) 

Indulge your senses:  The loggia, tree canopy and views of the Biltmore Hotel, are yours, everyday. … rain or shine.  Private terraces and a covered outdoor-summer-kitchen promise to invite memories, and not a single one of them spoiled by weather.  Eight-foot French doors connect terraces, entertainment, and game rooms. Whether a dinner party for thirty…. or an intimate interlude… weather won’t dampen it.  The Miami lifestyle…. with open air and breezes….flows… and is one of the many reasons you opt to be here. 

On occasion, perhaps you’ll see a barn owl … more frequently though, it will be the parrots, as they fly by at dusk.  Your time, the evening… relaxing outdoors… a dusty bottle from the wine cellar  …the wood-burning fireplace…. a dinner party for thirty, or a vintage port for a select few. 

Step into the courtyard, and into your private elevator…   Your spacious media/ game/ entertainment areas lie above the tree canopy on the fourth floor…  prewired for sound, fiber optics  and electronic control (and with sound attenuated walls!)  French doors take you onto the terrace and loggia… lusciously landscaped… and maintained through irrigation systems.  Voila’ …the cherished and trendsetting covered summer-kitchen. 

One floor below, are three beautiful bedrooms. Terraces, private baths. Balconies, a fireplace… in your maser suite.  A two person shower.  Double walk-in closets.

Another floor down, by elevator or open stairwell, you’ll find the main living quarters. Open… spacious…. and gracious.  Light streaming in.  Views and outdoor space everywhere you turn. A stunningly appointed Italian kitchen by Scavolini (Sub Zero Wine Storage, Wolf and Miele appliances) opens onto the family room. The Living and Dining areas are designed to be comfortable and livable, with sophiticated touches, fine detail and elegance . Natural stone countertops and flooring. Ten foot ceilings. Wine cellar. Wet bar.

The Venetian Coral Gables Villas, 920 Sevilla Avenue, Coral Gables, Florida 33134 www.venetiancoralgables.com

To reserve … Please call. Offered from $1,675,000  to $1,975,000 pre-construction. Scheduled for completion in 2011.

Vicki and Alexandra Restivo, Exclusive Listing Agents www.MiamiRealEstateCafe.com   (305) 793-1365 or (305) 532-0164

A single, private elevator within your four-story villa.  Coral Gables has a lot to offer.  The Venetian Coral Gables Townhomes insist on pampering… Why not embrace it?   Green Certified and Energy Star Rated.  Eliminate the hassle of maintaining an older property. Live in the Gables, at 920 Sevilla Aveue…  Indulge yourself.  Perhaps it’s time.  Preconstruction offering. Seven models. If you can envision, you may already be there.

The Venetian Coral Gables Villas

920 Sevilla Avenue

Coral Gables, Florida 33134

To reserve …  Please call.  Offered from $1,675,000 preconstruction. Scheduled for completion in 2012. 

Vicki and Alexandra Restivo

Exclusive Listing Agents

MiamiRealEstateCafe.com

305 793-1365

From the outside, the Venetian exudes luxury. Designed by architects Marshall Bellin and Glenn Pratt, the community features traditional Italian architecture and design, with paved stone courtyards and waterfountains.

Enter through your private elevator, from street level, or through your individual underground garage.  Enjoy the decadence of your state-of-the-art Italian kitchen (Wolf, Miele and SubZero appliances). Your own 500 bottle wine cellar wtih the perfect bottle of wine. Kick off your shoes and relax by the living room fireplace, or step out onto your many terraces and take in the tropical Miami air. Retire and rejuvenate overnight in your third floor bedroom. In the morning, draw open the blinds… overlooking courtyards and the Coral Gables tree canopy. TAKE A PRIVATE TOUR.

Relax with friends on the loggia of your fourth-floor private entertainment area. Whether you barbeque, broil steak, or savor Florida’s stone crabs, your rooftop garden, with it’s covered outdoor summer kitchen (with sink, stove and refrigerator) opens to the sky above. Watch the football game in the grand media room connecting to the outdoor terrace, or throw on your swimsuit and hop into the rooftop jacuzzi spa tub.

Be among the few to live in one of twenty magnificent villas and embrace the lifestyle that is the Venetian Coral Gables… Your home … in Miami.