MG Developer has secured a $41 million construction loan from Pine Bay Capital for The George Residences, a collection of 13 ultra-luxury townhomes at 717 Valencia Avenue in Coral Gables. This financing marks the next major step toward completing the final project in the developer’s decade-long transformation of the Biltmore Square area.
Credit: MG Developer.
“This financing milestone reaffirms our belief in the timeless vision behind The George,” said Alirio Torrealba, CEO of MG Developer. “We’re proud to have Pine Bay Capital’s support and excited to move forward with what will be one of the most exclusive residential offerings in Coral Gables. With world-renowned broker Ryan Serhant and his team leading sales, interiors by Nina Takesh, and architecture by De la Guardia Victoria Architects & Urbanists, we’ve assembled a best-in-class team that reflects a continued love and contribution to the legacy of Coral Gables and its founder.”
Credit: MG Developer.
The George is named in honor of George Merrick, the founder of Coral Gables, and continues MG Developer’s commitment to preserving the city’s historic Mediterranean Revival architecture while introducing modern design sensibilities. The townhomes are being designed by Maria de la Guardia of De la Guardia Victoria Architects & Urbanists, with interiors by Nina Takesh.
Credit: MG Developer.
“This is one of the most architecturally significant and emotionally compelling projects our team has encountered,” said Ryan Serhant, CEO of SERHANT. “The George is the final jewel in the Biltmore Square legacy, and we are honored to represent it. It’s a rare opportunity to own a piece of Coral Gables luxury that elegantly defines its future.”
Each residence will span over 5,000 square feet and feature solid mahogany doors and windows, Italian millwork, marble countertops, and high-end appliances from Sub-Zero, Wolf, and Waterworks. Interiors will offer ceiling heights up to 12 feet, a sculptural staircase beneath a skylight, and built-in elevator access. Custom automation packages will control lighting, music, and security systems.
Outdoor spaces are designed for entertaining, with private courtyards, loggias, and summer kitchens. Each residence will include a four-car garage, EV charging infrastructure, and generator-ready systems.
Credit: MG Developer.
The George follows a series of successful MG Developer projects in Coral Gables, including Beatrice Row, Biltmore Row, Biltmore Parc, and The Village at Coral Gables. All have helped define a new standard of luxury while remaining rooted in the city’s architectural heritage.
Sales and marketing for The George are being led exclusively by Ryan Serhant and his team at SERHANT. New Development. Prices start at $5.9 million, with completion expected in the second quarter of 2027. Total sellout of the project is projected at approximately $90 million.
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