MIAMI, FL – Renters who missed the chance to call Square Station home now have an opportunity to move in right next door. Art Plaza, currently under construction at 58 Northeast 14th Street, has opened units for pre-leasing, with move-ins anticipated in mid-2019.
As Downtown Miami’s newest transit-oriented Square Station reaches full-occupancy, Melo Group - one of Miami’s most prolific residential developers - is meeting rising demand for market-rate housing by launching leasing for its next multifamily community. Melo Group has topped off construction of Art Plaza, a 667-unit apartment complex slated for delivery in mid-2019. 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.
Together, the four apartment towers – Melody, Square Station, Art Plaza and Miami Plaza – will provide residents with hassle-free connections to Miami’s Central Business District, the Health District and Brickell Financial District via public transit. 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 demand for quality apartments, especially from professionals working nearby, has generated leasing velocity rarely seen in a rental building. Melo Group’s newest developments were designed with the needs and lifestyle preferences of young urbanites in mind. A recent demographic study, found that Downtown Miami’s population has grown by nearly 40 percent since 2010—to 92,235 residents. People between ages 25 and 44 comprise much of the residential population, at 41,437 residents, up 86 percent since 2010.
“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.”
Art Plaza’s pair of 34-story residential towers will offer 667 one- and two-bedroom apartments with floor plans ranging from 760 to 1366 square feet. Monthly rental rates start at $1,600. 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.
Art Plaza’s Downtown Miami location puts residents within blocks of some of South Florida’s top destinations for arts and culture, dining, shopping and entertainment, including the Adrienne Arsht Center for the Performing Arts, the Perez Art Museum Miami (PAMM) and the newly-opened Frost Museum of Science at Museum Park, Margaret Pace Park, and the AmericanAirlines Arena.
“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.”
Clustered around the Miami-Dade Metromover School Board Station, these transit-oriented developments will provide workers in Miami’s Central Business District, Health District and Brickell Financial District with an easy, stress-free alternative to commuter traffic. Metrorail extends elevated rail service to Miami International Airport, South Miami, Coral Gables and more. Miami Trolley is also nearby, making popular destinations such as Wynwood, the Miami Design District and Midtown Miami accessible within minutes.
Upon completion, Art Plaza will become Melo Group’s 15th residential development in the Greater Downtown Miami and Edgewater neighborhoods, bringing the firm’s development portfolio to nearly 5,000 condo and rental units. Another 2,900 residences are currently on the drawing board for future development.
For information about pre-leasing contact: Phone (305) 438-1001 Email info@artplazatower.com Web: www.artplazatower.com
About Melo Group: Founded in Argentina in 1948, the Melo Group is a family-owned and operated real estate development firm based in Miami, Florida specializing in the construction, design and delivery of high-quality residential buildings. With nearly 5,000 residential units completed and in development throughout the Greater Downtown Miami area and more than 10,000 units developed across the Americas, the firm’s father-and-sons team – spearheaded by father Jose Luis Melo and sons Carlos and Martin Melo – collectively bring more than 60 years of real estate development expertise. Melo Group’s most recent residential projects in Miami include luxury condo towers Aria on the Bay, Bay House, and 23 Biscayne, as well as premium apartment towers including Square Station, Melody Tower, 25 Mirage, Flagler on the River and 22 Skyview. Learn more at www.themelogroup.com