A Coral Gables real estate firm has big plans for its home city.

The Allen Morris Company has proposed mixed-use residential community Ponce Park Residences with luxury residences and retail on the ground floor.

“As longstanding residents of Coral Gables for 4 generations over the past 73 years and with The Allen Morris Company headquartered at the award-winning Alhambra Towers office building in Coral Gables for nearly 20 years, we are very proud to propose a plan for Ponce Park Residences, which would create a beautiful place to live and an urban park area dedicated to the City” said W. Allen Morris, Chairman and CEO at Allen Morris Company. “It truly achieves our goal of honoring the rich Mediterranean history and style that has a storied presence in the city, while further redefining luxury for modern-day living in the Gables.”

Lead architect Oppenheim Architecture will design the Mediterranean-influenced building, which is inspired by George Merrick’s Coral Gables City Hall. The company notes that like city hall, “Ponce Park Residences’ podium façade will be covered with natural stone, above which the building tapers back significantly to the project’s slender 80-foot-wide upper floors.”

The 171 one, two and three-bedroom residences ranging from 750 square feet to over 1,780 as well as 10 to 12-foot ceilings and floor-to-ceiling windows.

The highlight for the city will be 3/4 of outdoor space with a public park, designed by Naturalficial, Inc. and enhanced with the City of Coral Gables Board of Architects. Along with the park, the Allen Morris Company will also contribute to its maintenance in the future, donate $1 million to beautify Fred B. Harnett (Ponce Circle) Park, contribute $330,000 to the city’s parking fund and pay $2.4 million for the park creation and integration of the right-of-way surrounding it.

Shoppers on the ground floor will enjoy a pedestrian paseo lined with shops on the project’s northern side that will connect to the park. The company will model the shopping arcade after the historic Hotel Colonnade on Miracle Mile, and it will feature shade trees, water features and public seating areas.

The company expects to break ground in the fourth quarter with the project completion expected in the third quarter of 2023.