MG Developer Receives TCO For The Nearly Sold-Out Althea Row and Tops Off Biltmore Row In Coral Gables

MG Developer has received its TCO for Althea Row and revealed the townhome development’s 7,000 SF model residence. MG Developer also topped-off of Biltmore Row and submit plans to build a 50-residence community called Gables Village. The Coral Gables-based development firm is wrapping up its Biltmore Square community and planning for a new project, just west of LeJeune Road and north of University Drive.

Althea Row, situated at 739 Almeria Avenue, is a five-unit development designed by Coral Gables-based De La Guardia Victoria Architects & Urbanists and premiered its model unit at the 12th Annual Tour of Kitchens. Furnished by Artefacto, the residence opened to much splendor as guests indulged throughout the residence’s European-inspired luxury and design. Inspired by George Merrick and original Gables architects H.George Fink, Phineas Paist and Richard Kiehnel, the 3-story town houses include four bedrooms, four bathrooms with one half bath, a four-car garage, private elevator and private terraces with crafted loggias that bring the best of outdoor Gables living. With 80% of its town houses sold less than 60 days after completion, the fast pace in sales speaks to the demand for products such as Althea Row. Prices for the town houses start at $4.1 million.

“We’re thrilled to have introduced Althea Row to Coral Gables, a high-end community for those who appreciate the finest details of luxury living and lush surroundings of the City Beautiful,” said MG Developer CEO Alirio Torrealba. “Our goal is to always bring a sophisticated product that exceeds expectations while also complementing the aesthetic of the local community.

MG Developer is “building the city beautiful” and enhancing the Coral Gables neighborhoods with their luxurious residences. In all of their projects, they pursue a ceaseless quest for quality, value, and intelligent design which is reflected in the beauty of the Althea Row Residences.

Right next door, Biltmore Row has just topped off, marking a milestone for MG Developer’s master community of Biltmore Square. Biltmore Row fills the void in tasteful luxury that understands the roots traced back to the heritage of classical design elements found in Spanish colonial architecture that is carefully shaped and carved. Elaborate coralina-stoned entries surround and draw the eye to the front door of each of the 10 exclusive townhomes featuring a total of 5,561 SF.

Now in its early planning stage, Gables Village will integrate gardens and courtyards throughout an entire block, with 50% of the site expected to include lush landscaping and hidden parking garages featuring an artistic component that complements the entire Coral Gables community. The assembly of the project will be approximately $50 million and will certainly honor the city’s past while building for modern-day comforts.

“As our projects evolve and move through the planning and design phase, we remain committed to working closely with the City of Coral Gables to deliver communities that fall in line with their aesthetic values, which are rich in cultural and historic traditions,” added Torrealba. “Furthermore, we create homes, we create places that people and the entire community can enjoy and appreciate.”

Also designed by De La Guardia Victoria Architects & Urbanists, Gables Village will be located at 535 Santander Avenue. The development will include townhomes, duplexes, lofts, flats and an archway that raises residences above ground level, creating a distinct welcome into Gables Village.

MG Developer Partners With Berkshire Hathaway HomeServices In Coral Gables To Complete The Final Phase Of The Biltmore Square Community

MG Developer has recently partnered with Berkshire Hathaway HomeServices (BHHS) EWM Realty to lead sales and marketing for Althea Row and Biltmore Row. These are the last two projects that will complete the developer’s community, Biltmore Square, in Coral Gables. 

Althea Row and Biltmore Row include fifteen grand townhomes featuring 4-bedrooms and 4.5 bathrooms starting at $3.4 million. The residences are near the Coral Gables Business District and within walking distance of Miracle Mile, Riviera Club and The Biltmore Hotel. Five of the townhomes are in Althea Row and will be completed in 2021, the remaining ten will be in Biltmore row which will be completed in 2022.

“We are extremely proud to be working with BHHS EWM Realty,” says Alirio Torrealba, CEO of MG Developer. “As we enter a new era in real estate and a new era of the development of Biltmore Square, I have the deepest respect and admiration for Ron (Shuffield) and the team he built in the community. I look forward to growing the future of Coral Gables with him and his team of experts, who have been such an integral part of The City Beautiful.”

“MG Developer has done great things in Coral Gables and we highly regard Alirio’s confidence in our expertise as we finalize his unique neighborhood’s final phase,” said Ron Shuffield, President and CEO of BHHS EWM Realty. “Alirio and the MG team are an integral part of the Coral Gables community and we look forward to watching his vision for the city evolve.”

A finance team led by Jeffrey Donnelly and Dmitry Levkov has structured about $16 million in equity financing for the Althea Row and Biltmore Row projects. MG Developer, being based in Coral Gables, has taken on many projects in the area. The luxurious townhomes they are currently working on fit in perfectly with Coral Gables’ charm and feature design elements that blend into the city’s aesthetic. 

MG Developer Locks Down $16.5 Million In Equity Financing To Complete Coral Gables Luxury Townhome Projects

MG Developer, led by CEO Alirio Torrealba, has locked down $16.15 million in equity financing to complete two luxury townhome projects in Coral Gables, Biltmore Row and Althea Row. The projects are currently under construction after broking ground in February 2020. The financing was provided by PBVMF 23 LLC and was arranged by Jeffrey Donnelly and Dmitry Levkov of Colliers International South Florida.

The projects are being developed as part of MG Developer’s Biltmore Square, which features MG Developer nearby projects including apartment projects Biltmore Parc and the recently sold-out Beatrice Row. Biltmore Row features 10 townhome units and is located at 760 Valencia Ave. while Althea Row features 5 townhome units and is located at 735 Almeria Ave. Each townhome under development offers 4 bedroom floor plans and range from 4,514 to 5,524 square feet, featuring terraces, private loggias and luxurious finishes. Pricing starts just over $3 million per unit.