Texas mogul paid $36m for 1963 Coral Gables home, then demolished it

A Texas property developer recently demolished the Wood Residence, a historic mansion in Coral Gables, Florida. The estate, designed by Alfred Browning Parker, was not designated as a historic landmark. Local preservation advocates expressed frustration over regulatory loopholes allowing such demolitions without public hearings. The demolition reflects a broader trend driven by rising land values in South Florida’s luxury real estate market.