Alhambra Parc: New Luxury Condos Launch in Ritzy Coral Gables, Miami

MG Developer and Vertical Developments have launched sales for Alhambra Parc, a luxury condominium project in Coral Gables. Located at 33 Alhambra Circle, this 78-unit development aims to blend modern living with the city's historic charm. With various unit sizes and upscale amenities, Alhambra Parc is poised to attract discerning buyers seeking a premium lifestyle in a prime location.

Project Overview:

• Developers: MG Developer, led by Alirio and Diego Torrealba, in partnership with Fernando De Nuñez Y Lugones' Vertical Developments.

• Architecture: The building, designed by Coral Gables-based Bellin Pratt & Fuentes Architects, will have a Mediterranean-style design.

• Unit Details: One-, two-, and three-bedroom condos ranging from 860 to 2,800 square feet, with prices starting at $1.1 million.

• Amenities: Two rooftop decks, a pool, spa, children's playroom, coworking space, and a resident's lounge.

• Additional Spaces: The building will include 13,000 square feet of office space and 18,000 square feet of retail space.

Market Context:

The Coral Gables real estate market has experienced significant growth. The median home value reached $1,497,757, an 8.5% increase over the past year. The market, traditionally known for its single-family homes, is seeing more luxury condo inventory come to market.

The introduction of Alhambra Parc aligns with the city's upward trend in property values and demand for luxury living spaces. This comes at the same time as the area, dubbed the "Beverly Hills of Miami," grows as a Class A office market, making it a mecca for executives who look to live, work and play in tightknit radius

Looking Ahead:

Alhambra Parc represents a significant addition to Coral Gables' luxury real estate market. It offers modern amenities and a prime location. As the city grows, developments like this cater to the increasing demand for upscale urban living.