Melo Group Buys More West Of Arsht Center, Where They Already Plan Over 1,000 Units

An entity owned by Melo Group called Art Plaza LLC has closed on the purchased of a 1.2-acre site west of the Arsht Center for $16 million.

Seller Astra International provided an $11 million mortgage.

Across the street, Melo owns the 14 Plaza site where they submitted plans for a 650-unit rental tower earlier this year (although a request to rezone was denied). Also across the street is the site where Gloria and Emilio Estefan plan a Bongo’s tower. Down the block is Melo’s under-construction 497-unit Melody tower.

 

 

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XVS
6 years ago

Laz, don’t worry about Melos, because Melos don’t worry about you.
While I sympathize with “better something than an empty parking lot” POV, why would we want Miami look like a North Korean capital with palm trees, because if Melos are allowed to build whatever they want, that’s we will end up with.
99 percent of Florida consists of pretty affordable housing. Some of the cheapest in the world, actually. How it would be beneficial to fill the remaining one percent with the buildings that, once completed, will make you want to commit suicide?
I hate ugly parking lots in the urban core as much as anyone, but I’d rather wait a year or two more, until the developer with taste and imagination comes along.
And folks who can’t pay more than 1000 bucks for 2 bedroom flat have plenty of choices in this town, unless they insist on living in few gentrified areas.

Anonymous
6 years ago

You’ll wait much longer than a year or two if only ultra-luxury buildings are acceptable for blighted neighborhoods. Get off your high horse and realize that it takes buildings of all kinds and price points to fully develop a city, especially when that city is in dire need of better industry/employment opportunities. Maybe if we get sufficient jobs to attract talent, there would be enough demand for the entire urban core to command prices >$1,000/ft. Until then, those prices will only be feasible for international jet-setters/people who can work anywhere. So Melo is doing something that the city desperately needs. Don’t blame Melo; blame Miami.

Oh, and stop being a pretentious prick.

XVS
6 years ago

As I already pointed out below, Miami is attracting plenty of talent, without turning its downtown into a an endless row of commie blocks.
And I am not sure who is a pretentious prick here…someone who wants a beautiful city (that would be me)or someone who thinks it’s below him/her to live in a neighborhood that he/she can afford (that’d probably be you).
Drive half-mile inland, and there is a ton of affordable housing there.

SextantRealty
6 years ago

“99 percent of Florida consists of pretty affordable housing. Some of the cheapest in the world, actually.” -XVS

No, just no…

anonymous
6 years ago

Urban housing projects.

Obviously
6 years ago

I guess Mr Anonymous here would rather continue looking at desolate weed strewn lots and have people paying $900.00 dollars a month for a one bed room apartment in a building built in 1962.

david m
6 years ago

just underlines the vast amount of land miami has to build on.

Laz
6 years ago

I hate people attacking Melo, i get it there not building buildings like Echo etc.. but they build for the most part affordable new nice buildings for middle class people wanting to live in the urban code, i sure hope the person calling this “projects” is laughing at me from his penthouse at Icon or Marquis otherwise they can STFU.

Anonymous
6 years ago

Agreed

Marc305
6 years ago

I completely agree Laz, not every building has to be Echo. We need developers like Melo to build relatively affordable apartments so the middle class can live in the urban core. Well said!

Obviously
6 years ago

….and not only that Laz, at least Melo isn’t buying lots just to be “land banking” and have us looking and getting fustrated at the place as it sit’s there empty and overgrown with weeds for another five years until someone comes along and agree to the price they want like some other entities do.

Obviously
6 years ago

After reading that post by XVS, I’m getting a better understanding of why the young haultailit out of Miami after getting their college degrees.

XVS
6 years ago

Nonsense, obviously.

” While South Florida’s population has been fairly stagnant for a decade, it’s starting an unexpected shift upward, with Miami-Dade’s population growing 2.1% in one year. It’s now the 6th fastest growing region in the United States, when it didn’t even make the top 50 from 2000 to 2010.”
http://worldpopulationreview.com/us-cities/miami-population/

“The metros that are attracting educated workers include knowledge and tech hubs like San Francisco, Austin, Seattle, and Denver, and also Sunbelt metros like Phoenix, Charlotte, and MIAMI”.
http://www.citylab.com/work/2014/06/high-school-dropouts-and-college-grads-are-moving-to-very-different-places/372065/

Obviously
6 years ago

Um XVS, you do realize that it’s going to take quite a few years to replace the “Brain Drain” that Miami has experienced in the last, at least, six to eight years don’t you?