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.