Coral Gables-based MG Developer intends to move forward with a 12-story apartment building on a recently acquired 2.06-acre property. Previously, the property was home to a now-demolished auto dealership. MG Developer purchased the parcel for $5.3 million — a 324% increase from its last recorded sale at $1.25 million.
Plans filed with Miami-Dade County in 2023 indicate that the developer wants to build a mid-rise building with 279 apartments, with communal amenities featuring a swimming pool, fitness center, and communal gathering space. There would also be about 8,500 square feet of retail and 329 parking spots.
The site once hosted an auto dealership. Image from Google Earth
It doesn’t appear as though MG Developer is seeking incentives through the Live Local Act or other affordable housing incentives, so these could be at-rate market units. RentCafé reports that the average cost of a 946-square-foot apartment in Homestead is currently $2,013 a month. Homes at the 12-story complex may or may not fall within those parameters.
If all goes according to plan, the venture could finish construction in 2028. Modis Architects designed the venture. The Miami-based firm also designed ParcView at Miramar, a for-sale, 66-unit townhome community in Broward.
MG’s 12-story project is slated for 13400 SW 248th St, Homestead, FL, 33032, in Miami-Dade County.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Be the first to comment on "MG Developer Plans 12-Story Apartment with Retail for 13400 SW 248th St, Homestead, FL"