The long-discussed Merrick Parc project is getting a fresh shot of adrenaline. The developers say a new equity partner and a $30 million loan have put the two-tower apartment venture back in motion, with plans now clocking in at roughly 806 rental units. The site sits in the busy corridor between Coral Gables and Coconut Grove, just off The Shops at Merrick Park, and neighbors are already wondering whether this cash infusion will finally push permits, shovels, traffic and retail changes into high gear.
According to South Florida Business Journal, the Merrick Parc team recently brought in a new partner and closed a $30 million financing package to move the project forward. The outlet reports that updated plans now call for about 806 apartments spread across multiple buildings, a sizable jump from earlier concepts. The piece, by Brian Bandell, was published June 3, 2026.
Site history and design
The development site did not come cheap. It was assembled in 2022 for roughly $35.5 million, after MG Developer paid about $19.5 million for one key parcel and then scooped up adjoining lots, according to The Real Deal. That two-acre assemblage set the stage for a larger residential play.
Coral Gables-based Behar Font & Partners is listed as the project architect, Florida YIMBY notes, and earlier reports show the venture had already secured acquisition financing and investor equity to pull the site together. Developers initially floated smaller plans on the parcel, then shifted to a higher-density concept allowed under local zoning once they had the land and backing to support it.
What it could mean for the neighborhood
Merrick Parc’s address puts it just steps from The Shops at Merrick Park and within walking distance of the Douglas Road Metrorail corridor, which means hundreds of potential new residents could land right next to an already humming retail and transit hub. Local coverage has tracked a steady wave of large multifamily proposals in this stretch, and planners are expected to scrutinize traffic flow, parking and infrastructure capacity as the project advances.
As Miami Today reported, neighbors have previously raised flags about scale and density on similar sites, and Merrick Parc is unlikely to escape that conversation as it grows in unit count.
Next steps
The South Florida Business Journal reports that the fresh financing and new partner are aimed at nudging Merrick Parc into permitting and early site work. The developer, however, did not provide a public construction timeline in that story, so neighbors will have to keep guessing how soon cranes might appear.
County and city approvals are still needed for any revised plans and additional entitlements before vertical construction can start. For now, the loan and equity shakeup are the clearest signals yet that this long-planned project might finally be inching from the drawing board toward reality.
