Miami's Arts District Gets New Melo Residential Tower
Prolific developer Melo Group completed its 425-unit Miami Plaza and leased half of the multifamily tower.
July 22, 2020 at 02:09 PM
4 minute read
Developer Melo Group has completed its final multifamily project in Miami's Arts & Entertainment District, bringing a total of 2,300 apartments to what was known as the downtown Omni district.
The 36-story, 425-unit Miami Plaza is on the northeast corner of Northeast 15th Street and Miami Court at 1500 NE Miami Place.
It's Melo Group's fourth apartment project in the district after first delivering the 497-unit Melody Tower in 2016. In 2018, Melo completed the 710-unit Square Station twin tower south of Miami Plaza and last year completed the 667-unit Art Plaza twin tower.
Melo's focus is bringing market-rate apartments in a walkable area close to entertainment, cultural venues and public transportation in a nod to the increasingly preferred live-work-play lifestyle.
The Adrienne Arsht Center for the Performing Arts, the Perez Art Museum Miami and the Frost Museum of Science at Museum Park are within walking distance of Melo's projects.
The towers also are steps from the School Board and Arsht Center Metromover stations, giving residents an easy way to get to the downtown and Brickell employment hubs and Metrorail stations to other parts of Miami-Dade County.
The Arts & Entertainment District runs roughly from 10th to 19th streets and from Biscayne Boulevard west to Northwest Second Avenue. It's near other redeveloped Miami neighborhoods such as the Wynwood Arts District, a once rundown warehouse area, and Edgewater, where high-rise condominiums in recent years replaced old one- and two-story apartments.
Some of the other residential towers transforming the neighborhood are the 513-unit Canvas condominium at 1630 NE First Ave. developed by NR Investments.
Melo's latest building, which is about half leased, offers one- to three-bedroom units from 700 to 1,400 square feet. Rents are about $1,680 for one-bedroom apartments, $2,100 for two-bedroom units and $2,640 for three-bedroom units. About 8,000 square feet of ground-floor retail space is up for grabs.
Apartments have floor-to-ceiling sliding doors, balconies offering expansive views of Biscayne Bay and the city, granite countertops, double-door refrigerators, stainless steel appliances, laminated wood floors, ceramic tile, washers and dryers.
Amenities include a 70-foot pool, gym, cafe lounge, 24-hour security concierge and garage with valet service.
Miami 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," Martin Melo, principal of Melo Group, said in a statement. "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."
The Melo Group was started in Argentina and expanded to Miami where it's led by Jose Luis Melo and sons Carlos and Martin Melo. They have been developing in Miami-Dade since 2001 and to date have a portfolio of more than 5,000 condos and apartments plus with over 2,000 units in the pipeline.
The Melos' next project is the 51-story Downtown 5th twin tower with 1,042 apartments and more than 5,000 square feet of ground-floor retail. The tower is under construction at 55 NE Fifth Ave. north of the Federal Detention Center.
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