Location Ventures CEO Rishi Kapoor and Mario Garcia Serra at the groundbreaking for Villa Valencia in Coral Gables. Credit: Location Ventures

Luxury condo development Villa Valencia broke ground in downtown Coral Gables June 27, the latest residential project to take shape in the city. Location Ventures, a Miami-based real estate investment firm, celebrated the project with an event held at 515 Valencia Ave, the building’s future address. The company’s CEO and project developer Rishi Kapoor spoke at the event. 

Kapoor is aiming to redefine the luxury experience along with others in Florida’s luxury market. Coral Gables Mayor Raúl Valdés-Fauli and Daniel de la Vega, president of ONE Sotheby’s International Realty, also made remarks to city officials, luxury real estate brokers and other attendees at the exclusive gathering.

“We are thrilled to embark on the construction process, further holding true our maxim of leaving no stone unturned in every Villa Valencia experience,” said Kapoor. “We appreciate everyone who has helped make this project possible and look forward to providing residents with a thoughtfully-designed home that constitutes truly exceptional living in Coral Gables.”

Villa Valencia will rise to be 13 stories high and feature 39 estate-sized condo residences ranging from three- to six-bedrooms starting at $1.65 million. The interiors will be delivered move-in ready with Medeterranean-inspired modern designs. The building will boast 19,000 square feet of amenities including a hammam-style spa, hydrotherapy plunge pools, a 78-foot resort-style pool, two summer kitchens, a Cucina, tearoom, entertainment room and more. The residences are anticipated for delivery by summer 2021, and the project is represented by ONE Sotheby’s International Realty.