MG Developer and Baron Property Group propose an 806-unit apartment project near Miami’s Coconut Grove.
The development firms want to build Merric Parc with two 31-story towers on a full city block between Shipping Avenue and Orange Street, and between Southwest 38th Court and 39th Avenue near the Douglas Road Metrorail station, according to an application submitted to Miami-Dade County late last month.
Designed by Behar Font & Partners, the project would have 17,000 square feet of ground-floor commercial space, an 865-space garage and over 60,000 square feet of open space.
Coral Gables-based MG and New York-based Baron are asking the county for a pre-application meeting. That’s generally done for developers to get feedback from Miami-Dade staff members.
The firms assembled the development site in 2022. First, MG paid $19.5 million for the lot at 3898 Shipping Avenue. Four months later, MG and Baron dropped $16 million for the lots at 3191 Southwest 39th Avenue and 3160 Southwest 38th Court.
The project application marks a near doubling of the development firms’ initial plan. Shortly after the first lot purchase, MG and Baron announced a two-tower project with 450 units at 3898 Shipping Avenue. At the time, the firms scored $24 million in debt for Merric Parc and $13 million in equity from New York-based S3 Capital.
Led by Alirio Torrealba, MG is working on multiple projects. In Hialeah, it’s developing a three-phase apartment project consisting of the 10-story, 559-unit Metro Parc; 10-story, 620-unit Metro Parc North; and 10-story, 347-unit Metro Parc South.
Baron, founded and led by Matthew Baron, is partnering on Metro Parc and Metro Parc North.
MG is also developing the 48-unit Village at Coral Gables complex with townhomes, lofts, villas and condos at 535 Santander Avenue in Coral Gables.