Monday, August 13, 2012

Gables Estates: Why Is It So Special?

There is so much to choose from when it comes to purchasing Coral Gables real estate. The City Beautiful as it has been known since its inception back in the 1920s, has a current population of more than 43,000 people and has a high cost of living (81 percent). The median cost for a home in Coral Gables is $656,300.

There are many fabulous places to call home but one of the most beautiful includes more than 200 acres of lush shoreline along Biscayne Bay. The secluded waterfront enclave known as Gables Estates represents the ultimate in living a life of opulence, luxury and sophistication.

Gable Estates was the loving creation of industrialist Arthur Vining Davis who was the successful manager of Alcoa, the first company to manufacture commercial aluminum. His estate was valued at $400 million at the time of his death in 1962, and his private investments financed Gable Estates back in the early 1960s. Sea-walled canals meander along the magnificent residences that comprise Gable Estates.

Davis envisioned a secluded, elitist community that exceeded in terms of amenities the wildest dreams of the country’s richest of men and women. He created a demand for memberships to the Gables Estates Club, which is required before an individual is allowed to purchase one of the residences at Gables Estates.

The homes in Gables Estates represent a blend of architectural styles   encompassing Mediterranean, traditional Spanish, Mediterranean and Art Deco flourishes. The interiors are grandiose with beautiful cathedral ceilings, deluxe marble floors, spacious walk-in closets and fireplaces.

Among available Coral Gables real estate, this secluded community represents one of the most difficult subdivisions to buy into. It is among the most desirable enclaves both in South Florida and in the nation. Its location is secluded and yet within easy access to Miami’s International Airport, Biscayne Bay, the University of Miami, National Parks and the Greater Miami Area.

Gables Estates is comprised of 170 estate homes located east of Old Cutler Road on Biscayne Bay and those seeking to buy a home here must be sponsored by at least two residents, not including the seller or anyone involved with the sale of a home. Potential residents must also pay a hefty, non-refundable fee of $18,000, which covers membership in the homeowner’s association. All of the homes in Gables estates are at least 3,000 square feet in size and median home values are currently at 2 million and up.

There is no question that the epitome of fine living and luxurious Coral Gables real estate can be found within the magnificent properties that comprise the Gables Estate complex for those who are rich enough to afford it.

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