Key Takeaways
- 174 fully furnished residences over 12 storeys at 4011 Salzedo Street, in the Merrick Park District. Developer Alta Developers; one, two and three bedrooms from 662 to 1,461 square feet.
- It is financed and it is building. A $94.2 million construction loan closed and Florida YIMBY reported construction under way in March 2025. That distinguishes it from a large share of announced Coral Gables projects.
- Delivery is 2027, not 2026. Reporting puts completion in Q1 2027. ⚠️ An earlier version of our own new-construction directory said 2026; that has been corrected.
- 🔴 The published starting price has moved three times. The Real Deal reported from $700,000 at launch; our directory has carried $773,000; the developer’s current material says the $800,000s. All three are shown below with dates rather than picked between.
- Short-term rental is permitted, with a three-night minimum as reported at launch — unusual for Coral Gables. ⚠️ Verify this in the condominium documents and the city code before you rely on it. It is the single most important thing to confirm here.
- The county has no unit records yet, and will not until the declaration is recorded. The parcel is a single folio under the plat ALTA STRATEGIC GABLES.
What is actually being built
Cassia — marketed as Cassia, The Residences at Coral Gables — is a 12-storey, 174-unit condominium at 4011 Salzedo Street, in the Merrick Park District of Coral Gables. Alta Developers, the Raimundo Onetto firm, is the developer. Behar Font & Partners is the architect and IDDI handled interiors. Sales run through Cervera Real Estate.
Residences run 662 to 1,461 square feet in one-, two- and three-bedroom layouts, delivered fully furnished — furniture packages by RH, European appliances and Italian cabinetry by Italkraft. The amenity programme is scaled to the building rather than oversold: front-desk reception, an executive lounge and business centre, a fitness studio, a wellness centre with a treatment room, steam room and dry sauna, an indoor pool, and an outdoor pool deck with barbecues and lounge areas.
A 12-storey building is a real constraint worth understanding, not a shortcoming. Coral Gables does not permit the towers Brickell does, which is why almost nothing in this city is 40 storeys. If you are comparing Cassia to a Brickell high-rise on amenity count, you are comparing two different products.
Where the project actually stands
This is the part most preconstruction pages skip, and it is the part that separates projects that deliver from projects that do not.
- April 2024 — the 174-unit scheme is reported for 4011 Salzedo Street, and sales launch as a short-term-rental-permitted project.
- October 2024 — reservations convert to binding contracts; new renderings of the amenity and living spaces are released.
- March 2025 — Florida YIMBY reports construction under way.
- May 2025 — Alta closes a $94.2 million construction loan.
- Delivery — reported as Q1 2027.
Financing then vertical work, in that order, with dated coverage at each step. That sequence is the thing to look for in any preconstruction purchase, and a great many projects on our own directory cannot show it.
⚠️ One thing the county cannot tell you yet. The Miami-Dade Property Appraiser records 4011 Salzedo Street as a single folio, classified vacant commercial land, under the plat name ALTA STRATEGIC GABLES — the developer’s own recorded subdivision, which independently confirms who controls the site. There are no unit folios, no ownership percentages and no sale records, because the residences do not legally exist until the declaration is recorded. So nothing on this page is derived from the tax roll, and no price-per-square-foot history exists for this building. That is normal for preconstruction and it is worth saying plainly.
The price has moved, and here is the record
Three different starting prices are in circulation for this building. Rather than pick one, here is each with its source:
- From $700,000 — The Real Deal, at the April 2024 sales launch, with the highest units reported around $1.8 million.
- From $773,000 — the figure our own new-construction directory has carried.
- From the $800,000s — the developer’s current sales material, 2026.
Read as a sequence rather than a contradiction, that is a project raising prices as it sells through, which is what a well-absorbed building does. But it also means any price you were quoted more than a few months ago is stale. Ask for the current price sheet in writing, with a date on it.
The short-term rental question
This is the reason a lot of buyers are looking at Cassia, and it deserves care rather than enthusiasm.
Cassia launched as a flexible-rental project, reported at a three-consecutive-night minimum. In Coral Gables that is genuinely unusual — the city is restrictive, and very few condominium projects here permit it.
🔴 Do not buy on that basis without verifying it yourself. Rental permission depends on two separate things: the municipal code, and the condominium’s own recorded declaration and rules. Both can change, and the declaration for this building has not been recorded yet. Before you sign, have your attorney confirm the minimum-stay provision in the offering documents as executed, whether the association can amend it later and by what vote, and what the city currently requires by way of registration or licensing. A developer’s brochure is not a rental licence, and this page is not one either.
On the scarcity argument
Cassia is being marketed on Coral Gables supply scarcity against Brickell, and the underlying point is directionally sound: Coral Gables has far fewer new condominium projects than Brickell, and its height limits mean it always will.
⚠️ But we are not going to publish the specific counts being circulated. The comparison figures in the sales material carry no stated source, no date and no methodology — and the version we were shown contains an arithmetic error, printing Brickell’s unit total in the Coral Gables column. A scarcity argument that miscounts the supply is not a scarcity argument. The structural point stands on its own without invented precision: Coral Gables zoning caps building height, Merrick Park District sites are few, and that is visible without a chart.
What to verify before you sign
- The current price sheet, dated. See above — the starting price has moved at least twice.
- The minimum-stay provision as written in the offering documents, plus the amendment threshold.
- The deposit schedule and escrow terms, and the outside completion date that triggers your termination right.
- What “fully furnished” includes, itemised, and whether the package is substitutable at the developer’s discretion.
- The projected association budget, including reserves. Florida’s reserve rules tightened again for 2027, and a new building’s first budget is an estimate.
- Alta’s current pipeline. The same developer is building Alana in Bay Harbor Islands and has announced a 466-unit project in Hollywood. Concurrent projects are normal; ask how this one is capitalised independently.
Verified 25 August 2026. Project specification, timeline and pricing from Florida YIMBY (April 2024 announcement; October 2024 renderings; March 2025 construction under way), PROFILEmiami (October 2024, reservations converting to contract), The Real Deal (April 2024 sales launch and short-term-rental permission; May 2025 construction loan) and Multi-Housing News (the $94.2 million loan). Parcel facts from the Miami-Dade County Property Appraiser record for 4011 Salzedo Street, retrieved 25 August 2026 — one folio, vacant commercial land, plat ALTA STRATEGIC GABLES. ⚠️ No figure on this page is derived from the tax roll, because no condominium declaration has been recorded and no unit folios exist. Pricing is developer- and press-reported and is shown with dates rather than reconciled. Short-term-rental permission is reported, not verified by us, and must be confirmed in the recorded declaration and the Coral Gables code. South Florida Business Journal could not be checked — it blocks automated access.
Cassia Coral Gables — Frequently Asked Questions
Where is Cassia Coral Gables?
4011 Salzedo Street, Coral Gables, FL 33146, in the Merrick Park District. The county records the parcel as a single folio under the plat name ALTA STRATEGIC GABLES.
How many units does Cassia have, and how big are they?
174 residences over 12 storeys, from 662 to 1,461 square feet, in one-, two- and three-bedroom layouts, delivered fully furnished. ⚠️ These are the developer’s and trade press’s figures — the county holds no unit records until the declaration is recorded.
When will Cassia be completed?
Reported as Q1 2027. Construction was reported under way in March 2025 and a $94.2 million construction loan closed in May 2025. ⚠️ Our own directory previously said 2026; that was stale and has been corrected.
How much does Cassia cost?
The published starting price has moved: from $700,000 at the April 2024 launch (with the largest units around $1.8 million), $773,000 in our directory, and the $800,000s in the developer’s current material. Ask for a dated price sheet — any quote more than a few months old is stale.
Can you do short-term rentals at Cassia?
🔴 It launched as a flexible-rental project reported at a three-consecutive-night minimum, which is unusual for Coral Gables. But do not rely on that without verifying it. Rental permission depends on both the city code and the condominium’s recorded declaration — and the declaration for this building has not been recorded yet. Have your attorney confirm the minimum-stay provision as executed and the threshold for amending it.
Is Cassia actually being built, or just announced?
Being built. Florida YIMBY reported construction under way in March 2025, and a $94.2 million construction loan closed in May 2025. Financing followed by vertical work, with dated coverage at each stage, is the sequence to look for — and many announced projects cannot show it.
Related coverage
Part of New Construction.