Coral Gables has approved a $40 million bond agreement with Thornton Construction to fund the long-awaited restoration of its historic City Hall at 405 Biltmore Way, with construction set to begin in October 2026.

What did Coral Gables officials actually approve?

Coral Gables city officials voted to authorize a bond agreement with Thornton Construction valued at an estimated $40 million to finance the full restoration of the 1928 City Hall building at 405 Biltmore Way. The financing structure combines bond proceeds with cash the city already has on hand, rather than relying solely on borrowed funds.

  • Construction start date: October 2026
  • Financing method: bond proceeds combined with existing city cash reserves
  • Contractor: Thornton Construction

Why is the city confident this financing plan is sound?

City Manager Peter Iglesias said Coral Gables conducted an extensive review of all projected costs and potential savings before committing to the financing plan. That careful vetting process, Iglesias indicated, gave city leaders confidence that the combined bond-and-cash approach represents a fiscally responsible path forward for what is expected to be a multi-year project.

What will residents see during construction?

During the multi-year construction period, the restoration fence surrounding the 405 Biltmore Way property will display renderings of the finished City Hall building, giving the public a visual preview of the completed restoration. City officials said the decision to feature the renderings is intended to maintain community interest and engagement throughout the lengthy construction timeline.

  • Fence will wrap the historic property during the full construction period
  • Renderings will depict the building's appearance upon project completion
  • The approach signals a deliberate effort to keep residents connected to the project's progress

Why does this building matter to Coral Gables?

The Coral Gables City Hall, constructed in 1928, is one of the city's most recognizable civic landmarks and a cornerstone of the Mediterranean Revival architectural character that defines the municipality. Restoring the nearly century-old structure preserves a building that has served as the seat of local government since the early years of Coral Gables' incorporation, and its rehabilitation has been a stated priority for the city for years.

Original reporting by Miami Today.