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.

Miami City Commission Approves Savino Miller-Designed Baywalk And Riverwalk Design Guidelines For Downtown Miami and Brickell

The Miami City Commission has approved the Savino Miller Design Studio-designed design guidelines for the Miami Baywalk, a priority of the DDA (Downtown Development Authority) and achievement that has been over 40 years in the making. The effort dates back to the 1979 Dan Paul ordinance requiring 50-foot setbacks along the waterfront and requiring developers to build and maintain a 25-foot wide public promenade.

The Miami-based Savino Miller Design Studio was selected by the Downtown Development Authority to design the baywalk in 2017. The approved design will make the Baywalk one uniform pathway that is well lit and aesthetically attractive. The design provides resiliency and is both functional and sustainable to protect the shoreline. The pedestrian pathway will also be well lit for safety as well as feature public art and lush landscaping.

The vote amends the City's Miami 21 code to include required design guidelines, carrying big implications for developers planning future projects along the water. From this point forward, any permits pulled for new development or significant renovations to existing properties will have to abide by the ‘Waterfront Walkway Design Guidelines’ that provide a clear and cohesive vision for the design and construction for both the Baywalk and Riverwalk. The 4.5 mile baywalk and riverwalk will feature a uniform plan for seating, paving, lighting, landscaping, etc. Areas zoned for singe-family homes and duplexes will be exempt from the guidelines.

Renderings via Savino Miller Design Studio

Residents at Icon Brickell Host Parties As David Guetta Plays "United At Home" Set On Pool Deck Despite COVID-19 Social Gathering LIMits

In what was supposed to be an evening of fundraising and hope, a backlash has now swept through the Miami community. On April 18 David Guetta teamed up with the Miami Downtown Development Authority to host a 2 hour “United at Home” fundraising concert on the pool deck of Icon Brickell. The event raised over $6 million with over 30,000 listeners on instagram and in many ways was a huge success. Unfortunately many residents hosted parties in violation of Miami-Dade’s 10 person social gathering limit, issued by County Mayor Carlos Gimenez to help stop the spread of COVID-19, the effects of which have wreaked havoc on Florida’s economy. In one example videos have emerged with the help of the popular instagram account @OnlyInDade of a Miami entrepreneur hosting a large party on his balcony with guests not practicing social distancing and most wearing no masks and no gloves. The backlash in the comments on the instagram post has continued to grow as Brickell and Downtown Miami residents are enraged that they are now exposed to the dangers of the virus continuing to spread in their community. In March, hotels, restaurants, bars and nightclubs were ordered shut down in an effort to stop Florida from growing into a hotbed of infection. Parties have been identified as one of the major ways that COVID-19 has spread rapidly across the United States, at least 2 deaths have been reported from attendees who contracted the virus at the Winter Party Festival in Miami Beach in March.

The State of Florida is working hard to open up the states economy and get residents back to work. On Friday April 17 governor Ron Desantis gave the green light for some beaches and parks to reopen including in Jacksonville, but not Miami-Dade, which is one of the most populated regions in the state. The beaches which have opened allow walking, biking, hiking, fishing, running, swimming and surfing. They are only open from 6 AM to 11 AM and 5 PM to 8 PM. with gatherings of 50 people still prohibited state wide and proper social distancing practiced. Florida has over 23,300+ diagnosed cases of COVID-19 including 7,459+ in Miami-Dade, 3,177+ in Broward County and 1,704+ in Palm Beach County.

Melo Group Opens Square Station Apartments in Downtown Miami, Encourages Car-Free Living

Times are changing in Miami. Just 2 years ago, living in Miami required a car and was a pure drivers' city. Now though, the Downtown corridor is filling in fast like Manhattan. Formerly dirt plots now feature residential and retail and matched with the advancement of ride-sharing platforms such as Uber and Lyft, Miami is now a city you can live without a car. As developers work with the city to cut back on parking to build more units, there is now a push to appeal to the non-car owning (or leasing) renter (or buyer).

Leading the initiative are rental community masterminds Melo Group. Melo Group just completed the public transit-oriented Square Station, located at 1424 Northeast Miami Place in the heart of Downtown Miami’s Arts & Entertainment District. Renters who choose to give up their complimentary parking spot will receive a $100 discount off their monthly rent for the entirety of their lease for a credit of $1,200 per year. Square Station features an outdoor plaza connecting it to the adjacent Miami-Dade Metromover School Board Station.

“With Miami becoming more urban, we wanted to reward our residents who use alternative forms of transportation and encourage people to ditch their cars,” said Carlos Melo, principal of the Melo Group. “Square Station’s ground-floor retail will also help to create walkable sense of community, while the project’s transit-friendly location – with convenient access to the Metromover, Metrorail and Miami Trolley – will promote the everyday use of public transit and reduce traffic congestion during the workweek.”

Square Station features two 34-story towers with 710 market-rate rental apartments catering to an influx of young middle-class urbanites seeking walkable, urban lifestyles where they can live, work and play. The transit-oriented development also includes 15,000 SF of street-level retail and restaurants. Apartments range from one- to three-bedrooms measuring between 900 SF and 1,500 SF, with monthly rental rates starting at approximately $1,650 for one-bedroom units; $1,950 for two-bedroom units; and $2,500 for three-bedroom units. Units feature granite countertops, Samsung® stainless steel appliances, laminated wood floors, porcelain tile, and full-size washers and dryers. Large balconies showcase panoramic views of Biscayne Bay and the Miami skyline. Building amenities include a resort-style swimming pool and pool deck, Jacuzzi, fully equipped fitness center, valet service, covered garage parking, security-controlled remote access and a social room.

According to a recent demographic analysis of Greater Downtown Miami by the Miami Downtown Development Authority (DDA), Downtown Miami’s residential population has increased by nearly 40% since 2010 to more than 92,000 residents. Young working professionals comprise the majority of the residential population, with about 41,000 residents falling between the ages of 25 and 44, up 86% since 2010.

Square Station’s completion marks the first phase of Melo Group’s larger three-phase development plan to bring nearly 2,000 transit-oriented rental units to the Arts & Entertainment District area of Downtown Miami. Next door, the firm recently broke ground on Art Plaza, two 34-story towers with 667 apartments at 58 Northeast 14th Street. Plans for Miami Plaza, an adjacent third phase at 1502 Northeast Miami Place, are to include a 36-story tower with 437 rental units and approximately 7,000 SF of retail space. The developing neighborhood also includes previously completed Melo Group’s projects including Melody Tower, a 36-story mixed-use residential building which opened in 2016 at 245 Northeast 14th Street. Melody Tower offers 497 rental apartments with 8,500 SF of ground-floor retail and restaurant space with a landscaped plaza with public art.