MG Developer Breaks Ground of State-of-the-Art 48-Residence Complex in Coral Gables

MG Developer recently hosted a groundbreaking ceremony and Harvest Festival for The Village at Coral Gables, a residential development paying homage to Seville, Spain and inspired by the legacy of Coral Gables’ legendary and innovative founder George Merrick, and his vision for “The City Beautiful”. The 48-residence collection includes townhomes, lofts, villas, and flats, scheduled for completion by the second quarter of 2025. Attended by over 600 guests, including Coral Gables Mayor Vince Lago and One Sotheby’s International Realty CEO Mayi de la Vega, the event celebrated the commencement of construction at 504 Malaga Avenue. The subsequent Village Harvest Festival drew families and residents, offering a farmer's market and carnival activities.

MG Developer’s Track Record of Delivering Exceptional Projects

“I’m beyond words today. I feel truly proud to be able to celebrate the groundbreaking of The Village at Coral Gables with all of you and share in this auspicious occasion,” said Alirio Torrealba, CEO and Founder of MG Developer, during the official groundbreaking ceremony held in September. “It’s been a true labor of love for me, and for everyone at MG Developer, my family, our partners, our investors, the entire community. They have all entrusted us to build a beautiful enclave that is part of the vision George Merrick had when he founded Coral Gables in 1925 and that is exactly what we are doing now.”

Architectural Splendor Inspired by Seville, Spain

The Village at Coral Gables, spanning 17 lots bordered by Malaga Avenue, Santander Avenue, Segovia Street, and Hernando Street, embraces a Mediterranean Revival-Style Architecture. The residences, inspired by George Merrick's seven villages, vary from two-bedroom flats to four-bedroom townhomes, boasting sizes from 1,750 to 3,100 square feet. De La Guardia Victoria Architects & Urbanists designed the project, incorporating gardens, courtyards, and fountains reminiscent of the Plaza de España alcoves.

Luxurious Living with Recreational Amenities

Residents of The Village at Coral Gables will indulge in a wealth of recreational amenities, including a wellness clubhouse, indoor and outdoor terrace lounge, fitness wing, plunge pool, library, conference center, and high-speed Wi-Fi. The development's prime location, within walking distance of Downtown Coral Gables, golf courses, hotels, cultural attractions, and renowned dining venues, positions it as a coveted living destination in South Florida.

$67.5 Million Construction Loan Secured

MG Developer secured a $67.5 million construction loan for The Village at Coral Gables from Churchill Real Estate. The loan ensures the development of the 2.6-acre site at 535 Santander Ave. Construction began at the end of September, with completion expected in the fourth quarter of 2025 or the first quarter of 2026. The project, encompassing 48 units, will offer a mix of villas, townhomes, lofts, and flats, with townhouse prices starting at $1.7 million.

Continued High-End Development in Coral Gables

In addition to The Village at Coral Gables, the company is working on plans for a condo on Alhambra Circle. This development mirrors the ongoing trend of high-end residential projects in Coral Gables, driven by the city's allure with its popular restaurants, excellent schools, and a thriving office sector attracting financial and law firms.