Baron Property Group Secures $206M for Florida Project
A transit-oriented development is already underway.
Baron Property Group has secured $206 million in construction financing from Post Road Group to help transform Hialeah, Fla., with a new transit-oriented residential property. Developers broke ground on the project, Metro Parc North, last month, with completion expected in late 2027.
Metro Parc North will offer 661 homes ranging from studios to three-bedrooms. The units are designed by Modis Architects. KAST Construction is heading up construction on the project.
Homes in Metro Parc North are set to feature open-concept floor plans, stainless steel appliances, washers/dryers, designer kitchens and private balconies. Community amenities will include coworking spaces, a pool with pool-side cabanas, a multi-purpose clubroom, bike storage, a pet groom station and parking.
Baron Property Group’s Metro Parc—a 559-unit workforce housing property with 15,000 square feet of retail space—is next door to the development. Together, both projects will include almost 2 million square feet of apartment and retail space.
“We see Hialeah as the next sought-after destination,” Matthew Baron, founder and president of Baron Property Group, told Multi-Housing News.
Situated at 983 E. 26th St., Metro Parc North and Metro Parc residents are nearby a Metrorail entrance and the Hialeah Hospital. The Amelia Earhart Park and Hialeah Park are in close proximity, as are dining, retail and entertainment options.
Ayush Kapahi, principal and founding Partner at advisory firm HKS Real Estate Advisors, told MHN that in today’s market, certainty of execution on a deal such as this one is everything.
“The longstanding relationship between Baron Property Group and Post Road Group fostered a collaborative approach, enabling both parties to navigate the nuances of the deal structure efficiently,” he said. “In an environment where capital markets remain complex, trusted partnerships like this are key to getting deals across the finish line.”
TODs across the nation
Transit-oriented housing developments continue to be popular across the nation.
“A healthy mix of transit, housing and retail has been a popular recipe for U.S. towns and cities looking to keep up with the times and not be left behind,” Michael J. Romer, Esq., co-managing partner, Romer Debbas, told MHN. “Although additional housing is desperately needed, the adage ‘location, location, location’ still holds. Savvy developers are coordinating with local towns and cities to lure in additional residents with well-placed and convenient rental developments.”
On the East Coast, another transit-oriented development recently secured construction financing. Hoboken Connect, located along the Hudson River waterfront, began construction in January. It will feature 386 units and 5,000 square feet of retail space near bus, ferry, light and heavy rail and PATH services.
In Miami, a development site for a transit-oriented development was purchased in mid-2024 by Oak Row Equities. The project, MiamiCentral, will feature 816 luxury rental residences above the MiamiCentral Station.
Also in the New York area, Triangle Equities recently began move-ins at a transit-oriented development in Staten Island. The area lacks the transit density that the majority of the city enjoys. Yet, this development is built directly adjacent to the Staten Island ferry, which provides free transit between Staten Island and Lower Manhattan.
“Especially in New York, transit-oriented development is often associated with the access to rail and the subway,” Evan Petracca, chief operating officer of Triangle Equities, told MHN. “This property provides residents free access to lower Manhattan.”
