$50M, Seville-inspired village planned for Coral Gables with townhouses and condos
A $50 million village of duplexes, townhouses and condominiums is planned for Coral Gables, replacing existing apartment rental buildings with new residences.
The approximately 50-unit project Gables Village will add about 50 units to a primarily residential pocket of Coral Gables by 2024, steps from the Coral Gables Branch Library and Coral Gables War Memorial Youth Center. It will be set on 17 lots being acquired by MG Developer Miami for a total of $20 million, according to the firm’s founder Alirio Torrealba.
The project will include a handful of duplexes, three-story townhouses and three-story condominiums. It is set for completion by 2024.
The Coral Gables-based MG Developer Miami is finalizing the plans and design, according to the firm’s founder Alirio Torrealba. The firm also is in the process of acquiring 17 lots for the project for a total of $20 million.
One- and two-story apartment buildings currently occupy the lots, bordered by Malaga Avenue, Santander Avenue, Segovia Street and North LeJeune Road.
The project will have a range of layouts and prices, Torrealba said, with an average of $650 to $700 per square foot. Each 1,300-square-foot condominium will have two bedrooms, two bathrooms and a den. Prices will start around $845,000. Each approximately 2,000-square-foot duplex will have three bedrooms and four bathrooms. Prices will range from about $1.3 million to $1.4 million.
The townhouses would cover about 3,200 square feet and include three bedrooms, four bathrooms and a den. Prices will range from about $2 million to $2.2 million. The village will also have a community center with a pool, gym and yoga room.
Gardens will border each project and — inspired by the alcoves in the Plaza de España — some of the building’s facades will have built-in shelves and pockets for books, Torrealba said.
After years in the works, Torrealba said his firm is betting on the the increased demand for housing to last in Miami.
“The market has gotten stronger and interest to live in Coral Gables has grown,” Torrealba said. “We are seeing this from the sales for some of our own projects.”
Gables Village is inspired by Gables founder George Merrick’s seven villages, all built during the 1920s. Merrick developed villages each with its own architectural style, ranging from the French Normandy Village modeled after 15th century towns in England and France to the Chinese Village, styled after a Chinese compound.
Final plans will be submitted to the city early next year, Torrealba said, and he hopes to start construction by mid-2022.
MG Developer Miami has built a handful of townhouses and duplexes in Coral Gables, including the recently completed Althea Row and Biltmore Row, which just topped off.
This story was originally published July 6, 2021 at 6:00 AM.
