MG Developer continues to solidify its presence in Coral Gables with a newly secured $39 million construction loan for its latest luxury townhome project, The George. This development represents the final phase of the Biltmore Square community, a long-term vision the firm has been building in the heart of Coral Gables. The loan was provided by Pine Bay Capital, a Miami-based lender, further emphasizing market confidence in MG Developer’s high-end residential projects.
A Mediterranean-Style Townhome Collection
Located at 717 Valencia Avenue, The George will consist of 13 two-story Mediterranean-style townhomes, designed by local firm De la Guardia Victoria Architects & Urbanists. Each residence will span over 5,000 square feet and include four-car garages, private elevators, and ample outdoor spaces. Priced from $5.9 million, the project is expected to achieve total sales of around $90 million when complete.
Sales Led by High-Profile Brokers
Sales for The George launched in September. MG Developer plans to break ground soon, with completion anticipated in 2027.
Biltmore Square: A Vision Nearing Completion
The George marks the fifth and final piece of MG Developer’s Biltmore Square community. The company previously completed four other residential projects in the same neighborhood:
- Biltmore Park – a 32-unit condominium
- Althea Row – five townhomes
- Beatrice Row – nine townhomes
- Biltmore Row – ten townhomes
Together, these developments have redefined luxury townhome living in Coral Gables, blending classical architecture with modern amenities.
Expanding Footprint Beyond Coral Gables
Beyond Coral Gables, MG Developer is actively expanding across Miami-Dade. In April, the firm secured a $105 million construction loan from Scale Lending to develop Metro Parc South, a 10-story, 347-unit multifamily project in Hialeah. This site is located next to Metro Parc, a two-tower residential development with 559 apartments, co-developed with New York-based Baron Property Group.
Upcoming Project: Alhambra Parc
In addition, MG Developer is preparing to break ground on Alhambra Parc, a planned 11-story boutique condominium with 78 units. The company obtained a $14.5 million pre-development loan in October. Located in Coral Gables, Alhambra Parc will further extend MG Developer’s upscale residential offerings in the city.
Conclusion
With a growing pipeline that spans from Coral Gables to Hialeah, MG Developer is making its mark as a premier luxury and multifamily builder in South Florida. The George not only concludes a significant chapter in the firm’s Coral Gables portfolio but also sets the tone for continued innovation and growth in Miami’s dynamic real estate landscape.