Allen Morris Co. has successfully secured a $132.5 million construction loan from Bank OZK for Ponce Park, an ultra-luxury condominium in the heart of Coral Gables. This financing, arranged by Lotus Capital Partners, follows the firm’s recent $138.5 million loan for its Ziggurat project. Construction on the 11-story tower officially broke ground in December 2025, with completion targeted for early 2028.

Located at 3000 Ponce de Leon Blvd., Ponce Park will offer 58 bespoke residences ranging from two to five bedrooms (1,900 to over 6,500 sq. ft.). Designed by John Cunningham with interiors by Meyer Davis, the homes feature 11- to 12-foot ceilings, private elevators, and expansive terraces with summer kitchens. Prices for these exclusive residences start at $2.9 million.

The development includes 25,000 square feet of curated retail and a world-class restaurant. Residents will enjoy a rooftop pool, sky bar, artisanal cafe, and wellness spa. Furthermore, Allen Morris Co. is partnering with the City of Coral Gables for an $11 million renovation of Ponce Circle Park next door, significantly enhancing the local neighborhood streetscape.