New Construction in Coral Gables: What Is Being Built and What It Costs

New construction in Coral Gables is limited by the city’s strict architectural standards and the built-out nature of most of the city. What exists is custom and high-end - Coral Gables does not allow generic tract development and its architectural review process ensures new construction meets the Mediterranean character of the city.

Custom Home Market

The primary form of new construction in Coral Gables is custom single-family homes built on lots acquired through teardown. These are typically 5,000-8,000 sq ft Mediterranean Revival inspired homes with modern interiors. The exterior must comply with Coral Gables’ architectural standards which require design review approval. Prices for completed custom homes start at $3M and go to $10M+ depending on size and lot.

Spec Luxury Homes

Several luxury builders construct spec homes in Coral Gables targeting buyers who want new construction but do not want to go through the custom build process. These are typically completed, move-in ready homes at $2.5M-$5M in established neighborhoods. They sell quickly to buyers who can move fast and want new without waiting.

Condo Development

New condo development in Coral Gables is primarily concentrated near Miracle Mile and the downtown area. A few luxury boutique condo buildings have delivered in recent years with units in the $700,000-$2M range. These cater to buyers who want the Coral Gables address and lifestyle without single-family home ownership obligations.