MG Developer breaks ground on apartments with $10M loan

By Brian Bandell for South Florida Business Journal

MG Developer has broken ground on an eight-story apartment complex in Hialeah after obtaining a $10 million construction loan.

New York-based S3 Capital provided the loan to the Coral Gables-based developer. It covers the 11,627-square-foot site at 2691 East 11th Ave., on the north side of the Tri-Rail/Metrorail Transfer Station that links both mass transit lines.

MG Developer, through affiliate Metro Station LLC, acquired the property for $1.6 million in 2022. It also owns a lot directly to the north that’s slated for a second phase in the future.

Metro Station 1 is slated for 55 apartments in eight stories. That breaks down to 14 studios, 35 one-bedroom units and six two-bedroom units.

“Metro Station 1 is another step forward in our ongoing commitment to shaping the Metro Center District in Hialeah,” said Alirio Torrealba, CEO of MG Developer. “Our vision for this community has always been about thoughtful urban planning—centered around transit, community, and quality of life.”

Miami-based Modis Architects designed the project and TA Builders is the general contractor. It should be completed in February 2026.

Metro Station I is the latest in a handful of transit-oriented apartment projects MG Developer has in Hialeah. In April, it obtained a $105 million construction loan for the 347-unit Metro Parc South. It previously completed the 559-unit Metro Parc in the city.

City officials boosted density around the mass transit stations to encourage development where people could utilize the stations.

External Source: MG Developer obtains construction loan for Metro Station apartments in Hialeah – South Florida Business Journal