Coral Gables-based MG Developer is building a $204 million, two-tower luxury residential multifamily in Miami.

MG Developer has partnered with The Baron Property Group to develop Merrick Parc and with Colliers International to finance an initial $24 million tranche with $13 million in equity financing. The initial land acquisition debt financing was provided by S3 Capital.

The mixed-use project will consist of 450 rental units including studios, one- and two-bedroom apartments with parking, retail space for shops and dining venues. The architectural team overseeing the design is Behar & Font.

Merrick Parc will site on a 43,785 square foot site near The Shops at Merrick Park and the University of Miami, bordering Coral Gables. The property is located four miles away from the Tri-Rail station, four miles away from the Miami International Airport, five miles away from Brickell, eight miles away from Wynwood and 13 miles away from Miami Beach.