MG Developer: A Coral Gables Institution Goes Beyond

Ten years ago, MG Developer entered the Coral Gables market with a bold vision: to build not just homes, but neighborhoods that reflect the soul of their surroundings. Today, with a growing portfolio that stretches from the heart of the Gables to the edge of the ocean in North Bay Village, Executive Vice President Diego Torrealba is helping lead the charge on a new era of boutique, design-forward development in South Florida.

“We started developing in Coral Gables because we saw a market that was undervalued and underbuilt. There hadn’t been new product in seven years,” Torrealba recalls. “We had no comps when we launched our first project—that tells you everything.”

That pioneering spirit remains the core of MG’s ethos. From its early days building luxury villas in Biltmore Square to their latest mixed-use concepts in Doral and North Bay Village, MG Developer has become synonymous with quality, authenticity, and a distinct Mediterranean architectural style that feels uniquely at home in South Florida.

The Gables Blueprint

Coral Gables remains MG’s flagship market, where the company has steadily redefined the development landscape through projects like The Village at Coral Gables and the upcoming Alhambra Park. These are not high-rise towers that overshadow the city’s historic character. Instead, they’re designed to blend in—intimate, elegant, and intentionally human-scale.

“The Village is a full city block, but only 48 boutique units,” says Torrealba. “We could have gone higher, added more density, but the idea was to maintain the charm and rhythm of the neighborhood.”

This focus on community-first design is more than aesthetic. It’s about lifestyle—walkable streets, lush landscaping, and timeless architecture. The Village offers a mix of apartments, townhomes, lofts, and villas, all within walking distance to Miracle Mile, Coral Gables’ cultural and commercial heartbeat.

“People here want a work-live-play experience that doesn’t sacrifice character,” he explains. “They want family life with proximity to vibrant city life.”

Alhambra Park, MG’s first mixed-use project in Coral Gables, pushes the envelope further. With interiors by acclaimed designer Ray Jimenez (yes, the one from Netflix's Designing Miami), and a high-end restaurant and curated retail component planned on the ground floor, it’s a statement piece designed for modern living.

“We’re merging the culture of Brickell and Surfside into the Coral Gables lifestyle,” says Torrealba. “But always through a Gables lens.”

Expansion with Intention

While MG’s roots run deep in Coral Gables, the firm is now taking its boutique playbook to other promising pockets across Miami-Dade. One of the most anticipated is their North Bay Village project, a mixed-use, ocean-view development situated along the Kennedy Causeway with Prosper Group.

“We see North Bay Village the way we saw Coral Gables ten years ago,” Torrealba says. “It’s underbuilt, but now it’s attracting major players—Related, Pagani, Continuum—and we’re proud to be among them.”

The project, still in the design phase, will include residential condos, office space, and retail, with a unique zoning feature allowing for guest suite units—compact, studio-style spaces that add functional square footage without impacting unit count.

“It’s a way for buyers to have flexibility—maybe for family, guests, or even as a private workspace,” he says. “It’s something the zoning in that area allows and we’re taking advantage of it.”

Bringing Coral Gables Craftsmanship Everywhere

Even as MG expands geographically, the Coral Gables DNA—thoughtful design, local partnerships, and architectural integrity—remains foundational.

“We work with local architects, local GCs, even local artisans. Our architect, Maria de la Guardia, has lived in the Gables her whole life,” Torrealba says. “She understands the soul of this place. And that shows in the product.”

It’s an approach that stands in stark contrast to larger-scale development in the region. Where many developers aim for efficiency and density, MG champions character and detail. It’s also why they’ve teamed up with big names like Ryan Serhant and interior designer Nina Takesh for their upcoming Coral Gables project, The George—13 ultra-luxury New York-style townhomes in the heart of Biltmore Square.

“It’s a high price point, very boutique, and Ryan’s understanding of the New York buyer gives us a unique edge,” Torrealba says.

From Father to Son, and Now to the Future

The MG story is as much about family as it is about real estate. Founded by Diego’s father, the company has grown into a multigenerational operation with a deeply personal approach to decision-making.

“There are advantages and disadvantages,” Diego laughs. “But we make decisions over dinner, we brainstorm constantly, and there’s a lot of mutual trust.”

Torrealba joined MG formally after a summer stint in New York with one of the firm’s institutional partners—an experience that sharpened his vision for what MG could become.

“That summer, I saw how pipeline meetings worked, how institutional development was run,” he says. “Bringing that structure to MG was a natural transition.”

Advice for the Next Wave

When asked what advice he’d give to rising professionals in the development space, Torrealba doesn’t hesitate.

“Persistence and patience. Real estate will test both—markets shift, costs go up, things go wrong,” he says. “You need to stay grounded and focused.”

And network relentlessly.

“Especially in markets like New York and Miami, relationships are everything. Never pass up an opportunity to connect.”

Looking Ahead

From Coral Gables to North Bay Village and beyond, MG Developer is proving that thoughtful, design-led development still has a place in one of the most dynamic real estate markets in the country. And with Diego Torrealba at the helm of its next chapter, the firm is poised to keep shaping South Florida with a steady hand and a community-first heart.

“We don’t just want to build,” he says. “We want to belong.”