Ugo Colombo And Masoud Shojaee Cancel The Collection Residences

The 270-unit Collection Residences project in Coral Gables has been cancelled.

Developers Ugo Colombo And Masoud Shojaee are terminating their partnership. In a statement, Shojaee claimed that the decision wasn’t a reflection of market conditions.

The Arquitectonica-designed project was to feature oversized units that averaged 2,500-square-feet, at prices that starter above $700 per square foot.

Colombo told The Real Deal yesterday that “We’re putting every effort now in [Brickell] Flatiron, and we’re about to break ground”.