Coral Gables, Fla. (Dec. 1, 2025) - MG Developer, one of Miami’s premier real estate development firms, announces that its latest project, Alhambra Parc, has formally moved into the contract phase while officially receiving approval as an EB-5 qualified project by USCIS. The dual achievement highlights both strong buyer demand and growing international investor interest.
Alhambra Parc has begun securing signed purchase agreements for its planned 78 residences, adding momentum to the pipeline of new vertical luxury product in the City Beautiful. At the same time, the development has been authorized to open 50 EB-5 investment slots, each requiring a minimum investment of $1.05 million, making it the only EB-5-approved project in Coral Gables and one of a limited number in Greater Miami.
“These milestones reflect a trend in high-end real estate across Coral Gables, one where domestic and international buyers, as well as investors, are gravitating toward the city’s cultural and historic charm built over the last 100 years. The contract activity affirms the strength of the residential market, while the EB-5 designation positions Alhambra Parc within a select group of Miami-area developments offering a federally qualified path for foreign investment.”Alirio Torrealba, CEO of MG Developer
Located at 33 Alhambra Circle, Alhambra Parc will feature 78 luxury residences, 13,000 square feet of office space, and nearly 18,000 square feet of ground-floor retail. Architecture is led by Bellin & Pratt Architects, with unit interiors by Carlos Guevara and common areas and amenities by Raymond Jimenez, founder of Raymond Nicolas and known for his work on Netflix’s Designing Miami and HGTV’s Divided by Design.
Residences include one-, two- and three-bedroom floor plans spanning 860 to 2,800 square feet, with pricing beginning at $1 million. Onsite amenities include a state-of-the-art gym, executive center, wellness spa with sauna, mediation garden, resident library with bar and lounge, resort-style swimming pool, rooftop kitchens, and a paraiso garden with outdoor cinema.
Situated near Downtown Coral Gables, Alhambra Parc brings residents within a five- and ten-minute walk to world-class shopping, dining and entertainment on Giralda Plaza and Miracle Mile, respectively. Hosting Fortune 500 and global firms, with FIFA now having a permanent presence in the city, the gastronomic culture of Coral Gables has been elevated to include numerous restaurants bringing international flavors steps away from Alhambra Parc.
Multiple award-winning and Michelin-recognized restaurants are a few minutes away, with standouts such as Zitz Sum, Bachour and Kojin nearby. The Michelin-starred Japanese restaurant – Shingo – is only a five-minute walk from Alhambra Parc.
As Coral Gables commemorated its historic centennial earlier this year, Alhambra Parc emerges as a new landmark with old-world beauty and modern refinement, designed for those who expect nothing less than exceptional.
Alhambra Parc is being developed by MG Developer in collaboration with Vertical Developments. ONE Sotheby’s International Realty is exclusively handling sales and marketing.
For more information, please visit www.alhambraparc.com the sales gallery at 2990 Ponce de Leon Blvd., Suite 101, Coral Gables, FL 33134, or call 786.971.2982. Follow the journey on Instagram @Alhambra_parc.
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