CLIENT NEWS: MG Developer Could Replace 20 homes in Hialeah with Apartment Complex
February 28, 2023MG Developer wants to replace a full block of 20 single-family homes in Hialeah with an apartment complex.
The City Council will consider a land use amendment for the 3.84-acre site a block west of the Hialeah Tri-Rail/Metrorail Transfer Station on Feb. 28. It covers 901 to 983 East 26th Street and 906 to 990 East 27th Street.
Metro Parc Hialeah II LLC, an affiliate of Coral Gables-based MG Developer, has acquired 14 of the 20 homes there. It’s negotiating the purchase of the remaining six homes from the individual owners, according to the application.
Records show the developer purchased the homes for well above market value. For instance, the home at 990 E. 27th St. was assessed at $267,083 by the Miami-Dade County Property Appraiser and was purchased for $940,000 in August 2022.
The developer wants to change the land use from “low density residential district” to “transit oriented development district” because of the nearby mass transit station. The application states the project would have 620 apartments and 772 parking spaces in eight stories. There would be a 15,000-square-foot internal courtyard featuring a playground and a pool.
Coral Gables-based Modis Architects designed the project. Miami-based attorney Melissa Tapanes Llahues represents the developer in the application.
“The project will attract young professionals and empty nesters who are seeking housing with amenities in close proximity to a high-capacity transit system,” the developer stated in the application.
This followed MG Developer proposing the first phase of Metro Marc Hialeah at 955 E. 25th St. It has already cleared the land for that 433-unit project and it’s still in permitting with the city. MD Developer said it plans to break ground in March.
“Hialeah is a very strong and growing market,” MG Developer CEO Alirio Torrealba stated. “We set our eyes on Hialeah in 2020 and identified that the City of Progress was a market that was quickly emerging, but it was still in need of luxury rentals. We are experts in luxury and identifying a region’s potential.”
He noted the project is also near Hialeah Medical Center and the emerging Hialeah Arts District.
A recent study found Hialeah had a huge increase in high-income rents in recent years. City officials have been working to increase density around its public transit station.
