Allen Morris Co. Secures $132.5 Million Construction Loan from Bank OZK for Ponce Park Coral Gables
Allen Morris Co., one of the leading real estate firms in the Southeast U.S., announced that it has secured a $132.5 million construction loan from Bank OZK for Ponce Park, an ultra-luxury condominium development in the heart of Coral Gables that will redefine boutique luxury living. The loan for Ponce Park comes on the heels of the $138.5 million secured by Allen Morris Co. for their landmark Ziggurat project in Coconut Grove in November 2025. The financing was arranged by Lotus Capital Partners, led by Faisal Ashraf.
Located at 3000 Ponce de Leon Blvd., at the intersection of Ponce de Leon Blvd. and University Drive, Ponce Park will introduce world-class retail and residential offerings that honor Coral Gables’ Mediterranean roots through contemporary design.
“Ponce Park is designed to be an architectural landmark for Coral Gables. With natural stone cladding, interiors by Meyer Davis, and a thoughtfully curated retail mix, the project reflects a level of quality and care that sets a new bar for Coral Gables living."
W.A. Spencer Morris, President of the Allen Morris Company
“We value the opportunity to partner with Allen Morris Co. on this exceptional development in Coral Gables. This financing reflects our confidence in their ability to successfully deliver on their vision and we are excited to see Ponce Park come to life.”
Tom Moore, Managing Director of Originations at Bank OZK
The 11-story tower offers 58 bespoke two- to five-bedroom residences ranging from 1,900 to more than 6,500 square feet. At ground level, the development will introduce 25,000 square feet of curated retail anchored by a world-class restaurant, all just steps from The Plaza Coral Gables and Miracle Mile.
Designed by John Cunningham with interiors by the internationally acclaimed Meyer Davis, each home will feature 11- to 12-foot ceilings, private elevators, Italian-crafted kitchens, expansive terraces with summer kitchens and interiors that blend modern refinement with classic European-inspired details.
Residents will enjoy access to a suite of amenities including a rooftop pool, sky bar, artisanal cafe, spa and serene meditation courtyard, fitness studio and a private rooftop lounge offering panoramic views of the Southeast Gables.
As part of its commitment to enhancing the surrounding community, Allen Morris Co., in partnership with the City of Coral Gables, is undergoing a $11 million renovation of Ponce Circle Park next door to the project, which will transform the neighborhood streetscape.
The residential component, exclusively represented by ONE Sotheby’s International Realty, features prices starting at $2.9 million. Construction broke ground in December 2025, with completion anticipated in early 2028.
For more information visit www.poncepark.com.
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