South Florida developer Melo Group is bringing nearly 2,500 multifamily units in high-end residential towers to downtown Miami’s Central Business District over the next two years.
Its first development—the twin 52-story Downtown 5th towers—is said to be the single largest multifamily project to be built in downtown Miami. Pre-leasing is underway for the project, and, once completed this summer, it will deliver 1,042 rental units. Amenities will include two swimming pools, a state-of-the-art fitness center, a coffee lounge, a social room, a kids’ room, conference rooms, and private workspaces.
At the end of March, the developer broke ground on the second development—the 57-story Downtown 1st tower, which will include 560 market-rate rental apartments, 10,000 square feet of office space, and 3,000 square feet of ground-floor retail space.
Courtesy Melo Group
Melo Group has broken ground on its 57-story Downtown 1st tower. It is slated for completion in 2022.
Downtown 1st will feature one-, two-, and three-bedroom apartments with glass balconies, floor-to-ceiling sliding doors, energy-efficient tinted glass, European-style kitchen and bathroom cabinetry, granite countertops, stainless steel appliances, and full-size washers and dryers. Amenities will include two swimming pools, a fully equipped fitness center, a business center, a social and game room, 24-hour concierge and security, and a multi-level secured garage with valet service.
“We’re bullish on Downtown Miami’s Central Business District,” said Carlos Melo, co-principal of the Melo Group. “Our firm’s guiding principle has always been to build for what the market demands. And now more than ever we’re seeing people in need of good quality, attainably priced housing in convenient, walkable, urban locations close to their jobs and free public transit.”
In addition, Melo is planning a third multifamily development called Downtown 6th, which will include up to 800 rental units.
“Although there are plenty of new residential towers on the rise across Miami, there are actually very few moderately priced options. Our buildings in the Central Business District will help fill that void,” added co-principal Martin Melo.
The Melo Group’s Central Business District activity comes after it helped activate Miami’s once-vacant Arts & Entertainment District into a pedestrian-friendly community. The developer delivered 2,300 residential units in four years. Its six multifamily towers—all of which are near full occupancy—are clustered around the Miami-Dade Metromover Schoolboard Station and are connected by an indoor and outdoor retail and dining promenade.
