MG Developers hopes to start construction on Merrick Parc, a multi-million-dollar residential complex in Miami, Florida. It purchased the 43,785-square-foot site for $19 million. If approved, the development will offer two 20-story buildings comprising more than 190,000 square feet of new construction.
In total, the venture will offer 450 units and cost $204 million to build, according to the South Florida Business Journal. Amenities will include a swimming pool, social lounge, gym, and business center. The premises also features a parking garage with space for 288 vehicles.
The Next Miami notes that Merrick Parc will offer more than luxury homes. It’ll also offer 32,200 square feet of office space, as well as more than 6,300 square feet of ground floor retail space. The retail space will offer stores and dining options for those in the area.
Developers hope to break ground on Merrick Parc by the first quarter of 2023. Behar Font & Partners is the architect. Other entities associated with this project include Baron Property Group and Colliers International. S3 Capital offered $13 million in equity financing to make the venture possible.
Merrick Parc’s address is 3898 Shipping Avenue, Miami, Florida, 33146, in Miami-Dade County. Sources note that it’s near the Douglas Road Metrorail station and north of GW Carver Middle School.