MG Developer, in partnership with Prosper Group, has recently acquired two waterfront parcels totaling 42,750 square feet in North Bay Village. Located at 1681 & 1725 Kennedy Causeway, the properties were purchased for $30.9 million and will be used to launch a new mixed-use development.
The project is set to feature 147 luxury condominiums ranging from one- to three-bedroom residences. In addition to these upscale living spaces, the development will also include restaurants and retail spaces designed to create a vibrant community hub.
HKS Real Estate Advisors played a key role in this acquisition by securing financing through RMWC for $21.6 million.
Currently still in the planning stages, construction on this exciting new project is expected to begin in late 2027 with completion projected for early 2029.
Headquartered in Coral Gables and founded by Venezuelan-native Alirio Torrealba back in 2014,MG Developer offers comprehensive real estate services including concept creation, property site selection,and project advancement.
