MG Developer, based in Coral Gables with a new project in Hialeah, procured a $16 million loan to buy land in Hialeah for Metro Parc South. This upcoming project will consist of 347 rental apartments of varying sizes. It aligns perfectly with MG Developer's strategy of creating vibrant neighborhoods close to public transportation in Hialeah.
Metro Parc South will complement the existing Metro Parc and Metro Parc North buildings, forming part of the ambitious Metro Center project. This significant undertaking will reshape the living experience in Hialeah, offering residents modern amenities and convenient access to transit. Alirio Torrealba, CEO of MG Developer, views the acquisition of Metro Parc South as a strategic decision. It not only facilitates MG Developer's expansion but also contributes to enhancing the overall quality of life in Hialeah, creating a more desirable and livable community for its residents.
Construction of Metro Parc South will commence in late 2024 and is expected to be completed by late 2026. MG Developer collaborates with Hialeah to ensure that these developments benefit the community. The entire Metro Center project is slated for completion in 2027, featuring shops and recreational areas for residents to dine and stay active.
Beside Metro Center stands MG's Metro Station, offering 55 apartments. MG Developer believes these new spaces will benefit both the company and the residents of Hialeah. They pledge to construct durable, high-quality buildings that endure over time.
Alirio Torrealba is the head of MG Developer, and they've completed 11 projects and have more planned in South Florida, totaling nearly $1.5 billion. They recently purchased land in Coral Gables for The George, a collection of upscale townhomes named after a notable figure in the area. This upcoming project is set to begin in late 2024 and will play a significant role in shaping Coral Gables.
