MG Developer has officially broken ground on Metro Parc South, a significant 347-unit transit-oriented multifamily development in Hialeah, Florida. The project has secured $105 million in construction financing from SCALE Lending, marking a major step forward for the Metro Center master development and underscoring SCALE’s expanding footprint in the Miami real estate market. This development is set to enhance the area’s community-focused offerings.
Metro Parc South Secures Major Funding
MG Developer announced the successful acquisition of $105 million in construction financing for Metro Parc South. The funding was provided by SCALE Lending, a prominent player in the real estate finance sector. This financial backing is crucial for the commencement of construction, which is slated for the second quarter of 2025.
A New Addition to the Metro Center Development
Metro Parc South is envisioned as a key component of the larger Metro Center master development. It will join MG Developer’s existing projects in the vicinity, Metro Parc and Metro Parc North, further solidifying the company’s commitment to transforming high-growth areas. The development aims to provide thoughtfully designed, community-focused residential options.
Key Takeaways
- Project Scope: Metro Parc South will feature 347 residential units.
- Location: The development is situated in Hialeah, Florida, within the Metro Center master development.
- Financing: $105 million in construction financing has been secured from SCALE Lending.
- Developer: MG Developer is leading the project.
- Timeline: Groundbreaking occurred in Q2 2025.
Community Impact and Vision
The partnership between MG Developer and SCALE Lending signifies strong institutional confidence in MG Developer’s strategic vision. The company is focused on creating developments that not only offer modern living spaces but also contribute positively to the community fabric. Metro Parc South is expected to enhance the Hialeah area by providing much-needed housing and amenities.