The Melo Group, one of Miami’s most prolific residential developers who have quickly transformed Downtown Miami and its Arts & Entertainment District, have launched pre-leasing for Art Plaza, a transit oriented, community minded 667-unit apartment complex walking distance from the School Board Metro Mover Station. Located in the burgeoning downtown Miami Arts & Entertainment District, the 34-story, two-tower Art Plaza will offer one- and two-bedroom apartments which range in size from 760 SF to more than 1,300 SF, with monthly rents starting at $1,600. Art Plaza has topped off construction and is slated to deliver to market in mid-2019. Building amenities will include a resort-style swimming pool and pool deck, Jacuzzi, fully-equipped fitness center, valet service, available covered garage parking, security control remote access and a social room for residents – plus on-site services provided by another 15,000 square feet of ground-floor retail and restaurants. The opening will cap off phase three of a four phase plan that will deliver more than 2,300 market-rate apartments in Miami’s urban core.
“Although our renters are diverse,” says Melo Group principal Carlos Melo, “we’re seeing strongest demand coming from millennials who prefer 24-hour, live-work-play environments over long commutes. We look for sites within easy walking distance of public transportation as well as shopping and entertainment venues. Both projects, for example, are just steps away from the Metromover, providing easy access into Downtown Miami’s CBD and Brickell Financial District.”
As a community-minded real estate developer, Melo Group has made a concerted effort to build for local and regional market demand, bringing nearly 5,000 market-rate rental and luxury condominium residences to market over the past decade. Next-door to Art Plaza, Melo’s Square Station apartment tower, which opened May 2018, has seen is 710 units approach full occupancy. A fourth development, the 425-apartment Miami Plaza, is planned nearby, bringing the total number of market rate apartments that the development firm has brought to downtown Miami’s Arts & Entertainment District to nearly 2,300. Melo kicked off development in the district in 2016 when it delivered the 497-unit Melody apartment tower. In addition to market rate apartments, the three developments are also bringing more than 40,000 square feet of street-level retail space that will be populated with restaurants, shops and services catering to nearby residents.
“The Arts & Entertainment District’s concentration of attractions – from world-class cultural venues to dozens of dining and shopping choices – cater to every taste,” says Melo Group principal Martin Melo, “as does the district’s proximity to other hot neighborhoods such as Wynwood, Miami Design District and Midtown Miami. We also have an exciting collection of ground-floor retail at Square Station, including Bunbury, a popular bar and lounge that is relocating here; The Spot, a high-end barber shop; Testa Rossa Deli; a sports bar and Cucinova.”