Melo Group's Aria Reserve Luxury Condominium Exceeds 60% Sold In Less Than 6 Months As Groundbreaking Nears

As travel restrictions lift, foreign buyers have begun to return to Miami’s luxury real estate market, adding another layer to the already red-hot demand in South Florida. In the latest example of this international comeback, Melo Group, the developer behind Aria Reserve, a dual tower luxury condominium development situated on five acres of Biscayne Bay waterfront land in Miami’s Edgewater enclave, has pre-sold more than 60% of its 383-residence South Tower in less than six months since its summer 2021 sales launch. Approximately half of the tower’s buyers hail from domestic markets across the country, with an almost equal number of international buyers.

Aria Reserve’s 62-story towers will mark the tallest waterfront dual tower residential development in the United States. Construction of the project’s South Tower is expected to begin in early 2022, with completion slated for 2024.

“When we launched sales at Aria Reserve over the summer, the majority of our buyers were coming from the domestic market – New York, California, Boston,” said developer Carlos Melo, Co-Principal of the Melo Group. “While we’re still seeing an incredible amount of domestic demand, we’re now seeing some competition coming from overseas as international buyers return to the market. Buyers from Latin American countries like Mexico, Colombia, Argentina, Chile and Peru are relocating to Miami following the implementation of Covid-19 vaccines, continued political instability, and a recent rise in international tourism.”

Residences at Aria Reserve will include impeccably finished units with one- to four-bedroom floorplans measuring between 1,100 and 2,600 square feet in size. A limited collection of penthouse residences, ranging from 3,500 to over 9,000 square feet, each come with its own one-of-a-kind personal three-car garage vault – of which five trilevel penthouse mansions will also feature private rooftop decks with pools and summer kitchens. Residences are priced from about $850,000 to over $2 million, and up to $12 million for penthouses.

Every residence will include two private or semi-private elevators, a dedicated office/den, at least 10-foot-high ceilings, and open flow-through layouts with up to 11-foot-deep expansive terraces boasting unparalleled sunset views to the west and bay and ocean views to the east.

“Buyers are attracted to our waterfront location and our abundance of amenities,” said Martin Melo, Co-Principal of the Melo Group. “With a two-acre resort-style deck, home to an indoor/outdoor wellness center, a variety of sports courts, and multiple pools for the entire family, along with spacious residences, and some of the best bay and ocean views in Miami, Aria Reserve is appealing to end-user buyers looking to take advantage of the city’s cosmopolitan lifestyle.”

Aria Reserve has been architecturally designed by Bernardo Fort-Brescia of Arquitectonica, with interiors by MORADA Haute Furniture Boutique, and lush landscaping by ArquitectonicaGEO.

The development will boast over two acres of amenities, with standout features including a semi-Olympic sized lap pool and whirlpool spa, a children’s splash pad, playground area, teen lounge and gaming center, a theater, tennis courts, basketball courts, paddle courts, a golf putting green, and an indoor/outdoor wellness center with spa/steam/sauna facilities, massage rooms, a state-of-the-art gym, yoga lounge and meditation garden.

The building will also feature a double-level 25-foot lobby, a signature waterfront restaurant and café, two additional pool and lounge areas with two Jacuzzis and poolside daybeds, a fire pit, a dog park, and a telescope observatory area looking out over the bay. Residents will also have access to a custom-designed watersports dock with available paddleboards, kayaks, and inflatables.

On the ground floor along 23rd Street, Melo Group is developing a public park with open green space that will connect to the Miami Baywalk, providing direct access to the 5-mile-long pedestrian and bicycle-friendly waterfront promenade which runs along Biscayne Bay from Edgewater, around Brickell Key, and all the way to Brickell Bay Drive in Brickell.

Situated along the bayfront just north of Downtown Miami, nestled between the Venetian and Julia Tuttle Causeways – the two main arteries connecting the City of Miami and Miami Beach – Edgewater has fast-emerged as the epicenter of the new Miami. The surrounding neighborhoods of Downtown’s Arts & Entertainment District, Miami Design District, Wynwood Arts District, Midtown Miami, and Miami Beach put residents within blocks of dozens of luxury retail shops, high-end restaurants and world-class arts and culture venues.

Aria Reserve benefits from the development expertise of the Melo Group, one of South Florida’s preeminent residential development firms with a portfolio of more than 6,000 total luxury condominium and high-end multifamily units completed throughout Greater Downtown Miami. The firm is one of Downtown Miami’s most prominent long-term investors and landowners, having found success by investing early in prime real estate and building for market demand. Over the last two decades, Melo has delivered more than a dozen residential towers across Miami’s Central Business District, Edgewater, Miami River, and Arts & Entertainment District neighborhoods.

For more information about Aria Reserve, private showings or purchasing/ leasing information please fill out the form below:

Melo Group Completes $40 Million In Penthouse Sales In Past 90 Days At Aria Reserve

As penthouse demand skyrockets across South Florida, Melo Group, the developers behind Miami’s Aria Reserve twin tower luxury condominium development, have completed $40 million in penthouse sales at the project’s South Tower over the last 90 days. All 12 of the tower’s single-story penthouses are now under reservation, with only five soon-to-be-released tri-level penthouse mansions remaining available for purchase. More than 40% of the first tower’s 391 residences have already been sold since sales launched in June, with more than half of its buyers hailing from domestic markets within the United States. Situated on five acres fronting Biscayne Bay in Miami’s Edgewater enclave, Aria Reserve’s 62-story towers will mark the tallest waterfront dual tower residential development in the United States. Construction of the project’s South Tower is expected to begin in early 2022, with completion slated for 2024.

Aria Reserve’s limited collection of penthouses residences each come with its own one-of-a-kind private three-car garage vault. The 12 now-sold single-story penthouses, which range between 3,500 to 3,800 square feet in size, captured prices between $3 million and $3.5 million. Five remaining tri-level penthouse mansions, which measure between 5,000 and over 7,000 square feet, all feature private rooftop decks with pools and summer kitchens and are priced up to $12 million.

“Aria Reserve’s penthouse collection includes everything Miami’s most discerning buyers are looking for – privacy, space, access to an abundance of outdoor amenities, and, of course, some of the best waterfront views in Miami,” said Carlos Melo, Principal of the Melo Group. “One of the major selling points for our penthouses is our unique ‘garage vault’ which gives residents access to their own private climate-controlled and secure three-car garage within the building’s larger parking facility – a distinctive feature that has been especially popular among homeowners who are transitioning to condo living.”

Non-penthouse residences at Aria Reserve will include one- to four-bedroom floorplans measuring between 1,100 and 2,600 square feet in size. Prices range from about $850,000 to just over $2 million, at an average of approximately $850 per square foot.

Every residence will include two private or semi-private elevators, a dedicated office/bonus room, at least 10-foot-high ceilings, and open flow-through layouts with up to 11-foot-deep expansive terraces boasting unparalleled sunset views to the west and bay and ocean views to the east.

“Over the last few months, we’ve seen incredible demand for our penthouse residences, as buyers look to downsize from large houses and upgrade to amenity-rich and convenient luxury condo living,” said Martin Melo, Principal of the Melo Group. “Aria Reserve’s spacious penthouses are like waterfront homes in the sky designed and built for residents to live in and utilize year-round. Although we’ve already sold the entirety of our lower penthouse inventory, some of the most beautiful residences in the building – our five tri-level upper penthouse mansions – will be released to the market very soon.”

Aria Reserve has been architecturally designed by Bernardo Fort-Brescia of Arquitectonica, with interiors by MORADA Haute Furniture Boutique, and lush landscaping by ArquitectonicaGEO.

The development will boast over two acres of amenities, with standout features including a semi-Olympic sized lap pool and whirlpool spa, a children’s splash pad, playground area, teen lounge and gaming center, a theater, tennis courts, basketball courts, paddle courts, a golf putting green, and an indoor/outdoor wellness center with spa/steam/sauna facilities, massage rooms, a state-of-the-art gym, yoga lounge and meditation garden.

The building will also feature a double-level 25-foot lobby, a signature waterfront restaurant and café, two additional pool and lounge areas with two Jacuzzis and poolside daybeds, a fire pit, a dog park, and a telescope observatory area looking out over the bay. Residents will also have access to a custom-designed watersports dock with available paddleboards, kayaks, and inflatables.

On the ground floor along 23rd Street, Melo Group is developing a public park with open green space that will connect to the Miami Baywalk, providing direct access to the 5-mile-long pedestrian and bicycle-friendly waterfront promenade which runs along Biscayne Bay from Edgewater, around Brickell Key, and all the way to Brickell Bay Drive in Brickell.

Situated along the bayfront just north of Downtown Miami, nestled between the Venetian and Julia Tuttle Causeways – the two main arteries connecting the City of Miami and Miami Beach – Edgewater has fast-emerged as the epicenter of the new Miami. The surrounding neighborhoods of Downtown’s Arts & Entertainment District, Miami Design District, Wynwood Arts District, Midtown Miami, and Miami Beach put residents within blocks of dozens of luxury retail shops, high-end restaurants and world-class arts and culture venues.

Aria Reserve’s preconstruction sales model allows for 30-percent-down deposits for domestic U.S. buyers, and 40-percent-down deposits for international buyers. Under this model, payments are staggered with 10 percent deposits made at varying stages throughout the course of the development’s construction, from the reservation/contract stage all the way to top-off, with the remainder of the unit’s value due upon completion/closing.

Aria Reserve benefits from the development expertise of the Melo Group, one of South Florida’s preeminent residential development firms with a portfolio of more than 6,000 total luxury condominium and high-end rental units completed throughout Greater Downtown Miami. The firm is one of Downtown Miami’s most prominent long-term investors and landowners, having found success by investing early in prime real estate and building for market demand. Over the last two decades, Melo has delivered more than a dozen residential towers across Miami’s Central Business District, Edgewater, Miami River, and Arts & Entertainment District neighborhoods.

Melo Group's Downtown 5th, The Largest Multifamily Project Ever Built in Downtown Miami's CBD, Now 100% Leased

Melo Group has completed Downtown 5th, the single largest multifamily project built in Downtown Miami’s Central Business District. The twin 52-story tower development, located at 55 & 25 NE 5th Street, comprises 1,042 rental apartments and approximately 12,500 SF of ground floor retail space. With both towers now open for tenant move-ins, Downtown 5th has delivered with 100% of its apartments already leased, a clear sign of the continued demand for market-rate housing in Downtown Miami. Approximately 25% of leases at Downtown 5th are being signed by out-of-state renters moving to Miami. The two-tower development broke ground in late 2019 and was completed in a record of 18 months.

Now open for occupancy, Downtown 5th apartments include one-, two- and three-bedroom units measuring between 650 and 1,200 SF in size. Monthly rental rates range from approximately $1,700 to $4,000.

“We continue to invest in areas where we see demand for high-quality rental product fueled by population and employment growth,” said developer Carlos Melo, Principal of the Melo Group. “We completely pre-leased Downtown 5th’s East Tower before even opening our doors, while the West Tower leased up shortly after, which points to the clear need for the communities we are building.”

Downtown 5th’s completion comes as Downtown Miami emerges as an economic engine and global destination luring businesses, finance firms and tech companies from across the country. Greater Downtown Miami is now home to approximately 115,000 residents, up more than 70% since 2010, and welcomes 250,000 visitors and workers daily, according to Miami Downtown Development Authority research. Downtown Miami is also an economic engine for our state and region, providing annual economic output valued at more than $38 billion.

“As corporations, finance firms and tech companies continue to look to relocate or expand to Downtown Miami, the city is evolving into a global destination for business and lifestyle,” said Martin Melo, Principal of the Melo Group. “We’re seeing people moving here from major cities across the country. At Downtown 5th, about 25 percent of our tenants are coming from out-of-state, with many relocating from cities in the northeast and California.”

Downtown 5th marks Melo Group’s first completed residential development in Downtown Miami’s Central Business District, where the firm plans to deliver a total of nearly 2,500 units over the next two years. The firm recently broke ground on Downtown 1st, a 57-story tower with 560 market-rate rental apartments, 10,000 SF of office space, and 3,000 SF of ground-floor retail space; and is planning a third tower in the area, Downtown 6th, which will encompass up to 800 rental units.

Melo Group’s focus on the Central Business District comes on the heels of the transformation of Downtown’s once-vacant Arts & Entertainment District into a thriving pedestrian-friendly community with thousands of new residents, retail and restaurant options, and access to free public transportation. In a span of just four years, the firm delivered a total of 2,300 residential units to the neighborhood across four newly built multifamily developments clustered around the Miami-Dade Metromover Schoolboard Station and connected by an indoor/outdoor promenade with ground-floor retail and restaurants.

Apartments at Downtown 5th feature expansive balconies with bay and city views, floor-to-ceiling sliding doors, energy-efficient tinted glass, European-style kitchen and bathroom cabinetry, granite countertops, double door refrigerators, stainless steel appliances, spacious living and dining rooms, imported ceramic tile and laminated wood flooring, and full-size in-unit washer and dryer machines.

Building amenities include two swimming pools, spa, a state-of-the-art fitness center, a social lounge, kids game room, children’s playroom, a café, and a conference room with private workspaces.

Melo Group has been one of the leading developers behind Downtown Miami’s real estate resurgence with a portfolio of more than 6,000 total condominium and rental units completed throughout the Greater Downtown Miami area and another 2,500 units currently in development.

Melo Group Launches Sales For Luxury Bayfront Condo Tower 'Aria Reserve' In Edgewater

Miami-based real estate developer Melo Group has launched its newest luxury condo development, Aria Reserve Miami, a 62-story, twin tower luxury waterfront condominium development on Biscayne Bay in the heart of Miami’s burgeoning Edgewater neighborhood. The development will mark the tallest waterfront residential twin towers in the United States. Melo Group is now launching sales for Aria Reserve’s South Tower, which will encompass 391 spacious residences and penthouses. Construction of Aria Reserve’s South Tower is expected to begin in early 2022, with completion slated for 2024.

Aria Reserve is architecturally designed by Bernardo Fort-Brescia of Arquitectonica, with interiors by MORADA Haute Furniture Boutique, and lush landscaping by ArquitectonicaGEO. The development will offer 550 linear feet of bay frontage, with direct views of Biscayne Bay, the Atlantic Ocean, and the Miami Beach skyline.

Residences will include impeccably finished units with one- to four-bedroom floorplans measuring between 1,100 and 2,600 SF in size. Every residence at Aria Reserve will include two private elevators, a dedicated office/bonus room, at least 10-foot-high ceilings, and open flow-through layouts with expansive 11-foot-deep east- and west-facing outdoor terraces boasting unparalleled sunset views to the west and bay and ocean views to the east.

A limited collection of 15 penthouses residences will also be available, ranging from 3,500 to over 9,000 SF, each with its own one-of-a-kind personal three-car garage vault. Three trilevel penthouse mansions will feature private rooftop decks with pools and summer kitchens.

Residences are priced from about $750,000 to over $2 million, and up to $12 million for penthouses. Preconstruction sales are now underway, with starting unit prices averaging approximately $750 per square foot.

Aria Reserve’s preconstruction sales model will allow for 30%-down deposits for domestic U.S. buyers, and 40%-down deposits for international buyers. Under this model, payments are staggered with 10% deposits made at varying stages throughout the course of the development’s construction, from the reservation/contract stage all the way to top-off, with the remainder of the unit’s value due upon completion/closing. In 2011, Melo Group was the first developer in Miami to implement the now-popular 50-percent-down financing model to build its 23 Biscayne condominium.

“This type of waterfront, luxury condominium opportunity simply no longer exists in Miami at this price point,” said Martin Melo, Co-Principal of the Melo Group. “With more than two acres of open-air amenities, spaciously oversized luxury residences, and an unmatched waterfront location, Aria Reserve is sure to appeal local empty-nesters as well as out-of-market domestic and international residents looking to relocate to and live full-time in Miami.”

Standout amenities will include a two-acre recreation deck, which will be home to a semi-Olympic sized lap pool and whirlpool spa, a children’s splash pad, playground area, teen lounge and gaming center, a theater, tennis courts, basketball courts, paddle courts, a miniature golf course, and an indoor/outdoor wellness center with spa/steam/sauna facilities, massage rooms, a state-of-the-art gym, yoga lounge and meditation garden.

The building will also feature a double-level 25-foot lobby, a signature waterfront restaurant and café, two additional pool and lounge areas with two Jacuzzis and poolside daybeds, a fire pit, a dog park, and a telescope observatory area looking out over the bay. Residents will also have access to a custom-designed watersports dock with available paddleboards, kayaks, and inflatables.

On the ground floor along 23rd Street, Melo Group is developing a public park with open green space that will connect to the Miami Baywalk, providing direct access to the 5-mile-long pedestrian and bicycle-friendly waterfront promenade which runs along Biscayne Bay from Edgewater, around Brickell Key, and all the way to Brickell Bay Drive in Brickell.

The news of Aria Reserve’s launch comes as Miami experiences an extreme surge in residential real estate sales sparked by a new wave of wealthy out-of-towners opting to make South Florida their primary residence fueled by a more desirable quality of life, and lower business and living expenses, a trend which began with the 2016 tax reform bill and has only accelerated since the Covid-19 pandemic made remote working more commonplace.

“Our philosophy has always been to build for what the market demands. Over the last twenty years, our firm has acquired land in and around Miami’s Downtown waterfront – and as long-term owners and operators of real estate, our investments have allowed us to develop the right product at the right time to meet demand for locals and residents around the world wanting to live in Miami,” said Carlos Melo, Co-Principal of the Melo Group. “Now, eight years after acquiring this unique five-acre piece of waterfront land with 550 linear feet on the bay in Edgewater, we’re very excited to launch Aria Reserve, our firm’s latest luxury condominium, in what has become one Miami’s most exciting new neighborhoods.”

Melo Group has been a driving force behind Downtown Miami’s real estate resurgence with a portfolio of more than 6,000 total condominium and rental units completed throughout the Greater Downtown Miami area. The firm has found success by investing early in prime land and building for market demand, delivering more than a dozen high-end multifamily and luxury condominium towers across the city’s Central Business District, Edgewater, Miami River, and Arts & Entertainment District neighborhoods including Aria on the Bay, Square Station, Bay House, Melody and Art Plaza, amongst others.

For more information about Aria Reserve, private showings or purchasing/ leasing information please fill out the form below:

Melo Group Locks Down $99 Million Refinancing For Miami Plaza Apartment Tower In Downtown Miami

Melo Group has locked down a $99 million refinancing for its recently delivered transit-oriented Downtown Miami apartment tower, Art Plaza. The 36-story, 425-unit Art Plaza, which is located at 1500 Northeast Miami Plaza, is now 95% leased after Melo Group delivered the building in July 2020. The loan is a 10-year, interest-only loan financed by Freddie Mac and arranged by Peter Mekras of Aztec Group. The refinancing will be used to pay off a $62.7 million construction loan from BB&T which was funded in 2019.

Apartments at Miami Plaza feature expansive balconies with bay and city views, floor-to-ceiling sliding doors, energy-efficient tinted glass, European-style kitchen and bathroom cabinetry, granite countertops, double door refrigerators, stainless steel appliances, spacious living and dining rooms, imported ceramic tile and laminated wood flooring, and full-size washer and dryers. Residences at Miami Plaza apartments range from one- to three-bedrooms measuring between 700 to 1,400 square feet. Monthly rental rates initially started at approximately $1,680 for one-bedroom units; $2,100 for two-bedroom units; and $2,640 for three-bedroom units.

Building amenities include a large 70-foot swimming pool, a fully-equipped fitness center, a café social lounge, 24-hour concierge/security, and a multi-level secured garage with valet service.

Miami Plaza marks the fourth multifamily development, and sixth tower, that Melo Group has delivered in the Arts & Entertainment District since 2016 and completes the final phase of the firm’s plan to bring more than 2,300 transit-oriented rental units to the growing neighborhood. The firm’s previously completed developments in the area, all of which are clustered around the Miami-Dade Metromover School Board Station within a few blocks of each other, include the 497-unit Melody Tower, which delivered in 2016; the two-tower 710-unit Square Station, which delivered in 2018; and most recently, the two-tower 667-unit Art Plaza, which delivered in 2019. Melo Group is also developing Downtown 5th at 55 NE 5th Ave, an apartment community with 1,042 rental units spread over two 51-story towers in nearby Downtown Miami.

Melo Opens Miami Plaza Tower In Downtown Miami's Arts & Entertainment District, Marking Milestone 2,300+ Units Completed In 5 Years

Melo Group, one of Miami’s most active residential development firms, has transformed and activated Downtown Miami’s Arts & Entertainment District with attainable, transit-oriented multifamily product for local residents. The firm has officially completed Miami Plaza, its newest transit-oriented 36-story rental tower which is now open for occupancy. Miami Plaza is situated adjacent to the Miami-Dade Metromover School Board Station at 1500 Northeast Miami Plaza and is comprised of 425 rental apartments catering to the growing influx of young professionals in Downtown Miami seeking walkable live-work-play lifestyles without the commute. The development also includes approximately 8,000 square feet of ground-floor retail/restaurant space available for lease. 

Apartments at Miami Plaza feature expansive balconies with bay and city views, floor-to-ceiling sliding doors, energy-efficient tinted glass, European-style kitchen and bathroom cabinetry, granite countertops, double door refrigerators, stainless steel appliances, spacious living and dining rooms, imported ceramic tile and laminated wood flooring, and full-size washer and dryers. Residences at Miami Plaza apartments range from one- to three-bedrooms measuring between 700 to 1,400 square feet. Monthly rental rates start at approximately $1,680 for one-bedroom units; $2,100 for two-bedroom units; and $2,640 for three-bedroom units. 

Building amenities include a large 70-foot swimming pool, a fully-equipped fitness center, a café social lounge, 24-hour concierge/security, and a multi-level secured garage with valet service.

“Art Plaza completes our vision for the transformation of the Arts & Entertainment District – an area of Downtown Miami that has been residentially underserved for years – into a true live-work-play neighborhood,” said Martin Melo, principal of the Melo Group. “Our transit-friendly location, with convenient access to the Metromover, Metrorail and Miami Trolley, gives residents convenient everyday access to public transportation and will hopefully help reduce traffic congestion in Downtown during the workweek.”

Miami Plaza marks the fourth multifamily development, and sixth tower, that Melo Group has delivered in the Arts & Entertainment District since 2016 and completes the final phase of the firm’s plan to bring more than 2,300 transit-oriented rental units to the growing neighborhood. The firm’s previously completed developments in the area, all of which are clustered around the Miami-Dade Metromover School Board Station within a few blocks of each other, include the 497-unit Melody Tower, which delivered in 2016; the two-tower 710-unit Square Station, which delivered in 2018; and most recently, the two-tower 667-unit Art Plaza, which delivered in 2019.

“The demand for highly-amenitized, well-built attainable rental units within walking distance of our city’s transit systems, prime retail and entertainment venues is strong,” added Carlos Melo, principal of the Melo Group.

Melo Group has helped activate Downtown’s Arts & Entertainment District bringing a total of more than 45,000 square feet of new retail and restaurant space at the base of their apartment buildings to serve tenant’s everyday needs. Some of the community’s newest tenants include Bunbury, Bistro Café, Tapout Fitness, My Salon, Spot Barbershop, Shine Nail Salon, New York Roma Pizza and Testa Wines. Melo is also gearing up for the debut of “Art Kitchen,” an indoor/outdoor dining promenade at the base of the firm’s Art Plaza towers that will feature ten different restaurant concepts with cuisines ranging from Indian, Peruvian, Mexican, Japanese, Italian and more.

Melo Group’s father-and-sons team, led by Jose Luis Melo and his two sons Carlos and Martin Melo, has been a driving force behind Miami’s real estate resurgence since 2001, with the firm recognized today as one of the region’s preeminent developers of high-end residential developments in Downtown Miami. Miami Plaza is Melo’s 16th residential building delivered in the Greater Downtown Miami area, bringing the firm’s portfolio to more than 5,000 total condo and rental units completed with another 2,000+ units in the works.

Melo Group’s next residential project, Downtown 5th, is now under construction at 55 NE 5th Avenue in Downtown Miami’s Central Business District. With completion slated for 2021, the luxury apartment complex will include twin 51-story towers with 1,042 rental units and more than 5,000 square feet of ground-floor retail/restaurant space.

Melo Group Launches Pre-Leasing For Miami Plaza Apartment Tower In Downtown Miami's Arts & Entertainment District

Melo Group, one of Downtown Miami’s preeminent real estate development firms, is getting ready to open their latest residential tower addressing two of the city’s most-pressing issues, housing affordability and traffic. Ahead of its May opening and following its construction top-off in late 2019, Melo is now launching pre-leasing for Miami Plaza, its newest transit-oriented rental building in Downtown Miami’s Arts & Entertainment District in Miami’s urban core. The 425-unit Miami Plaza tower, situated adjacent to the Miami-Dade Metromover School Board Station at 1500 Northeast Miami Place, will complete the final phase of Melo’s 5-year plan to activate and inject new life into Downtown’s previously-desolate Arts & Entertainment District with more than 2,300 attainably-priced multifamily apartments and over 8,000 SF of retail/restaurant space.

“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. All of our developments in the Arts & Entertainment District are just steps away from the Metromover, providing easy access into Downtown Miami’s CBD and Brickell Financial District.”

Miami Plaza rises 36-stories and caters to a growing influx of young professionals in Downtown Miami seeking walkable live-work-play lifestyles without the commute. Units at Miami Plaza range from one- to three-bedrooms measuring from approximately 700 to 1,400 SF in size, with competitive rental rates ranging between $1,680 and $2,800 per month. Apartments at Miami Plaza will feature spacious living rooms, formal dining rooms, expansive balconies with glass railings, floor-to-ceiling sliding doors, energy-efficient tinted glass, European-style kitchen and bathroom cabinetry, granite countertops, double door refrigerators, stainless steel appliances, imported ceramic tile and laminated wood flooring, and full-size washer and dryers. Amenities will include a large 70-foot swimming pool, a fully-equipped fitness center, a café social lounge, 24-hour concierge/security, and a multi-level secured garage with valet service.

Melo Group’s father-and-sons team, led by Jose Luis Melo and his two sons Carlos and Martin Melo, has been a driving force behind Miami’s real estate resurgence since 2001, with the firm recognized today as one of the region’s preeminent developers of high-end residential developments in Downtown Miami. Upon its completion, Miami Plaza will become Melo’s 16th residential building delivered in the Greater Downtown Miami area, bringing the firm’s portfolio to nearly 5,000 total condo and rental units completed with another 2,000+ units in the works. Melo Group’s previously completed developments in the area are all clustered around the Metromover station within a few blocks of each other. Completed projects in the Arts & Entertainment District include the 497-unit Melody Tower, which delivered in 2016; the 710-unit Square Station towers, which delivered in 2018; and most recently, the 667-unit Art Plaza towers, which delivered in 2019. Melo Group’s next residential project, Downtown 5th, is now under construction at 55 NE 5th Avenue in Downtown Miami’s Central Business District. With completion slated for 2021, the luxury apartment complex will include twin 51-story towers with 1,042 rental units and more than 5,000 SF of ground-floor retail/restaurant space.

“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. Our newest buildings in the area have an exciting collection of newly-opened and upcoming restaurants and retail offerings to serve the everyday needs of our residents. Everything you need is within just a few blocks from your apartment.”

Melo Group is bringing life to the area with a total of more than 45,000 SF of new retail and restaurant space at the base of their apartment buildings to serve tenant’s everyday needs. Some of the community’s newest tenants include Bunbury, Bistro Café, Tapout Fitness, My Salon, Spot Barbershop, Shine Nail Salon, New York Roma Pizza and Testa Wines. Melo is also gearing up for the Summer 2020 debut of “Art Kitchen” – an indoor/outdoor dining promenade at the base of the firm’s Art Plaza towers that will feature ten different restaurant concepts with cuisines ranging from Indian, Peruvian, Mexican, Japanese, Italian and more.

Aztec Group Arranges $142 Million In Debt Financing For Melo Group's Art Plaza

Aztec Group, Inc., Florida’s leading real estate investment and merchant banking firm for the past 38 years, announces that Peter Mekras, President of Aztec Group, has arranged $142 million in debt financing for Art Plaza in Miami, Florida, consisting of 667 rental apartments and 15,000 SF of retail space. This is the 10th loan Mekras has placed for Melo Group, who most recently placed $142 and $108 million loans for Melo’s 710-unit Square Station and 497-unit Melody Tower respectively.

Art Plaza was developed by Miami-based Melo Group, a family-owned and operated real estate development firm based in Miami, Florida and specializing in the construction, design and delivery of high-quality residential buildings. Art Plaza opened June 2019, and achieved rapid leasing velocity with 95% occupancy in less than six months. Art Plaza is located at the corner of NE 1st Avenue and NE 14th Street in the heart of Miami’s Arts & Entertainment District, just one block from the Metromover’s School Board station.

Aztec Group was engaged on an exclusive basis by the Owner to conduct a broad investment banking process. The firm obtained quotes from banks, agencies, pension fund advisors, private equity, financial and life insurance companies. After assisting the borrower to analyze numerous quotes and structures, the $142 million loan was awarded to Freddie Mac via Berkadia’s Miami Office as its seller servicer. The 10-year loan features full-term interest-only and a fixed rate under 3.50%.

“Our process mitigated Art Plaza’s limited stabilized operating history and Miami’s perceived housing supply concerns.” said Peter Mekras, President of Aztec Group. “We are pleased to be a part of Melo Group’s unparalleled effort to deliver more than 2,000 units of needed rental housing in the heart of the Arts & Entertainment District.”

Art Plaza marks the third multifamily development that Melo Group has delivered in the Arts & Entertainment District since 2016, and is part of the firm’s larger plan to bring over 2,300 transit-oriented rental units to the growing neighborhood. The firm’s previously completed developments, including the 497-unit Melody apartment tower and 710-unit Square Station towers, all cater to young professionals wanting to live close to their jobs in and around Downtown Miami and Brickell. The firm’s next rental development in the area, the 437-unit Miami Plaza tower, is now under construction adjacent to Square Station on the north side of the Metromover and is slated for completion in mid-2020.

Melo Group Launches Pre-Leasing For Art Plaza Apartments In Downtown Miami

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.”

Melo Group Completes The Arquitectonica-Designed Aria on the Bay In Downtown Miami

Construction of Aria on the Bay, Melo Group’s new Arquitectonica-designed luxury condominium in Downtown Miami, is now complete with more than 90% of its 648 units already sold and under hard contract. The 53-story waterfront tower, located at 1770 N. Bayshore Drive along Biscayne Bay, becomes the latest condominium to deliver in Downtown’s growing Arts & Entertainment District. The news prompts the start of closings as residents take ownership of their units, begin interior build-outs, and prepare to move into the building over the coming days.

“When we broke ground on Aria on the Bay three years ago, we envisioned a tower that not only offered first-rate amenities in an ideal location but one whose design would convey elegance and sophistication. We are confident that Aria will take its place among Miami’s most iconic landmarks,” said Carlos Melo, principal of the Melo Group.

Units at Aria on the Bay range from 1 to 4 bedrooms and $400K to $6 million and sold around $550 per square foot. Residences feature floor-to-ceiling glass, expansive wrap-around terraces, private elevator access, open-plan living areas, designer finishes and fixtures, European-style kitchens, and modern custom-designed cabinetry. Amenities include a 14th floor resort amenity deck with 2 sunrise/sunset swimming pools, a jacuzzi, custom-seated fire pits, barbecue grills and outdoor summer kitchens, a private spa with massage treatment facilities, a state-of-the-art fitness center, yoga studio, entertainment lounge, and a screening room. 

“Two blocks north of the Adrienne Arsht Center for the Performing Arts, Aria on the Bay’s semi-circular balconies make reference to those inside the classic opera houses. They playfully stagger creating a series of cylinders in performance. The arrangement could also be interpreted as a musical score, or a series of curves dancing to a tune,” said Architect Bernardo Fort-Brescia, founding principal of Arquitectonica.
 
Aria on the Bay launched sales and construction in 2015 and became an instant favorite among international and domestic buyers in the market for spectacular design, panoramic water views and luxury amenities in a walkable, urban setting. Baseball superstar Giancarlo Stanton, the Yankee slugger who was recently named the National League’s Most Valuable Player, purchased one of Aria on the Bay’s triplex penthouses in 2017 and Grammy Award-winning record producer and rapper Timbaland also purchased two units at the building.
 
“Beyond its prime waterfront location, magnificent bay views, and high-quality design features, Aria on the Bay benefits from the expertise of one of Miami’s strongest developers,” said Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, the project’s exclusive sales and marketing brokerage. “Melo Group’s success is the result of more than sixty years of experience in the real estate industry and the firm’s track record for uncovering and investing in emerging neighborhoods. We are proud to be a part of their achievements in the U.S. and know that their keen and efficient business sense will ensure they continue to develop in Miami for many more years to come.”

Since arriving in Miami from Argentina in 2001, Melo Group’s father-and-sons team, which is led by Jose Luis Melo and his two sons Carlos Melo and Martin Melo, has been a driving force behind Miami's real estate resurgence. Aria on the Bay marks the developer’s 14th residential tower delivered over the last decade and a half, with a total of more than 5,000 units completed and in development throughout the Greater Downtown Miami area. Melo Group is also building market-rate apartment buildings to meet the needs of young professionals looking to live within close proximity to Miami’s largest employment districts such as Brickell, Downtown’s CBD and the Health District. The firm’s next residential project, the 710-unit Square Station Apartments, will open to tenants this month as part of a larger three-phase development plan to bring nearly 2,000 transit-oriented rental units to Downtown Miami.

Remaining units currently available for sale include a range of one- to four-bedroom condos priced from the $400,000s up to $1.8 million.