MG Developer Secures $105M for 347-Unit Metro Parc South in Hialeah​

Key Points

• $105M Loan Secured: MG Developer obtained a $105 million construction loan from SCALE Lending for the Metro Parc South project.

• 347 Units Planned: The development will feature 347 apartments, including studios, one-, and two-bedroom units.

• Part of Metro Center: Metro Parc South is the latest addition to the larger Metro Center master plan in Hialeah.​

MG Developer has secured a substantial $105 million construction loan from SCALE Lending to develop Metro Parc South, a 10-story, 347-unit multifamily project in Hialeah, Florida. This development is a significant component of the broader Metro Center master plan, aiming to revitalize the area with modern housing options.​

• Location: 954 and 934 East 25th Street, Hialeah, Florida.

• Developer: MG Developer, based in Coral Gables.

• Architect: Modis Architects, Miami-based firm.

• General Contractor: KAST Construction.

• Financing: $105 million construction loan from SCALE Lending, the lending arm of Slate Property Group.

• Units: 347 apartments, comprising studios, one-bedroom, and two-bedroom units.

• Construction Timeline: Groundbreaking is scheduled for the second quarter of 2025.​

Metro Parc South is part of the expansive Metro Center master plan, which includes

• Metro Parc: A completed 10-story, two-tower project with 559 apartments.

• Metro Parc North: An upcoming eight-story building with 620 units, currently under development by Baron Property Group.

• Metro Station: A planned 55-unit transit-oriented development at 2691 East 11th Avenue.​

Upon completion, Metro Center will encompass nearly 2.3 million square feet of residential and retail space, significantly contributing to Hialeah's urban revitalization efforts.​

The development of Metro Parc South underscores MG Developer's commitment to addressing the growing demand for multifamily housing in Hialeah. The project's proximity to transit options and inclusion in a larger master plan make it a strategic investment in the region's future.​

SCALE Lending's involvement, with over $3 billion in residential project loans to date, reflects strong institutional confidence in the project's viability and the Hialeah market's potential.​

MG Developer's $105 million financing for Metro Parc South marks a significant milestone in Hialeah's transformation into a hub for modern, transit-oriented living. As part of the larger Metro Center initiative, this project is poised to play a pivotal role in reshaping the city's residential landscape.