MG Developer secures $67.5 million construction loan for The Village at Coral Gables

The Village at Coral Gables is set for completion by the second quarter of 2025

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Village at Coral Gables
MG Developer secured a $67.5 million construction loan from Churchill Real Estate to build The Village at Coral Gables

MG Developer, led by Alirio Torrealba, announces it has secured a $67.5 million construction loan from Churchill Real Estate to build the highly anticipated Village at Coral Gables development, with groundbreaking expected this July.

Exclusively sold by One Sotheby’s International Realty, The Village at Coral Gables, located at 535 Santander Avenue, is a 48-residence collection featuring: Townhomes, Lofts, Villas, and Flats. The assembly of the project will pay homage to the aesthetic beauty and lifestyle of Seville, Spain, and continue the legacy of the dreamer and founder of Coral Gables, George Merrick, and his vision for “The City Beautiful.” This new enclave is being created to honor the city’s past while building for discerning buyers looking for modern-day luxurious comforts.

“We are truly excited to now be entering the construction phase of The Village at Coral Gables”, said Alirio Torrealba, CEO of MG Developer. “It’s been a true labor of love, from the initial planning phase to now. I couldn’t be prouder to be partnering with Churchill to provide the financing for this highly anticipated community. We are looking forward to a fruitful and long-term relationship for more projects in the future that will continue to elevate the City of Coral Gables.”

The Village at Coral Gables will be set throughout 17 lots, bordered by Malaga Avenue, Santander Avenue, Segovia Street, and Hernando Street. The townhomes, lofts, villas, and flats will vary in style and size, from the sophisticated flats of two bedrooms with a study room and a balcony to the charming four-bedroom townhomes that range from 1,750 square feet to 3,100 square feet. Inspired by Merrick’s seven villages, The Village at Coral Gables will be built in a Mediterranean Revival-Style Architecture, designed by De La Guardia Victoria Architects & Urbanists, and integrate gardens, courtyards, and fountains inspired by the alcoves in the Plaza de España.

“We are thrilled to partner with MG Developer for the financing of The Village at Coral Gables,” added Jeff Rosenfeld who, along with Sean Robertson, Co-Heads Originations at Churchill Real Estate. “MG Developer has a strong track record of delivering exceptional projects, and we are excited about MG bringing this highly anticipated development to life. We are excited to support MG Developer in their commitment to elevating The City Beautiful and look forward to our continued partnership and future projects.”

The classic yet modern village will also feature thoughtful recreational amenities that emanate a contemporary and tropical ambiance, and a color scheme that blends natural tones with lush green foliage, and hints of gold décor accents. Featuring a wellness clubhouse of nearly 4,000 square feet, an indoor and outdoor terrace lounge that is ideal for events and gatherings; a fitness wing; a luxurious plunge pool as well as a library and conference center; perfect for residents who enjoy working remotely and are looking for all the office amenities like high-speed wi-fi and a large monitor screen to host virtual meetings and more. The impeccably designed amenity spaces elevate the standard for modern living in historic Coral Gables.

The verdant canopy streets that surround The Village at Coral Gables evoke the serenity of quiet countryside and it feels like living in the suburbs, but residents will enjoy living within walking distance of Downtown Coral Gables. The development is close to the new Plaza, South Florida’s most sought-after golf courses, the new Lowe’s Hotel, the Biltmore Hotel, cultural attractions, and the best dining venues in Miami. With everything The Village at Coral Gables has to offer, combined with its stunning design and lifestyle, it is poised to become the most desired living destination in South Florida.

The stunning, state-of-the-art, showroom for The Village at Coral Gables provides a sneak preview into the curated interiors and furnishings that were selected from RH (Restoration Hardware), which have proven their design leadership in the luxury lifestyle market. The showroom is open Monday through Friday from 10 a.m. to 5 p.m., Saturdays from 11:00 a.m. to 3:00 p.m., and Sundays from 12:00 to 4:00 p.m. Located at 2990 Ponce de Leon Boulevard, Suite 101. You can also schedule an appointment by calling 786.833.6398.

MG Developer, led by Alirio Torrealba, is one of South Florida’s most active residential developers having completed its newest project, Althea Row, which nearly sold out in less than 90 days. MG will soon wrap up its Biltmore Square community, as it completes Biltmore Row, the 10 exclusive townhomes featuring a total of 5,561 square feet each, with elaborate coralline-stoned entryways that trace back to the heritage of classical design elements found in Spanish colonial architecture.