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New $204 Million, 450-Unit Luxury Mixed-Use Multifamily Development Coming to Miami

MG Developer plans to build luxurious residential townhomes in Coral Gables. The two-tower high-rise named Merrick Parc is a multi-million multifamily development encompassing a 43,785 square foot site close to The Shops at Merrick Park and the University of Miami. The mixed-use project will consist of 450-luxury rental units, including studios, one- and two-bedroom apartments with parking and retail space for shops and dining venues. 

“We are seeing a critical demand for luxury rental units in Miami and we want to ensure we fulfill that need while growing our real estate portfolio, particularly our rental division,” Alirio Torrealba says, CEO and Founder of MG Developer. “We’ve been ‘Building Beautiful’ in Coral Gables, where we have a tremendous amount of experience working in the neighboring area, so we felt it was a natural next step in our evolution. We are also very excited to be announcing our second multifamily rental project in Miami.”

MG Developer partnered with The Baron Property Group to develop Merrick Parc and Colliers International to finance the initial $24 million, with $13 million in equity financing.

“MG Developer has established a reputation as creative and savvy acquirers of prime development sites throughout the greater Miami area,” Jeffrey Donnelly says, Colliers’ Executive Director. “Merrick Parc is a repeat of what we have seen from them in the past.”

 Last fall, MG Developer launched its first multifamily project in Hialeah, Metro Parc, a 10-story apartment building with 560 units. MG Developer is also planning a 48-residence community in Coral Gables, west of LeJeune Road and north of University Drive, called Gables Village.

“MG is perhaps the most well-known and highly regarded condo and townhome developer in Coral Gables,” Dmitry Levkov says, Colliers’ Executive Director. 

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.