Melo Group Plans 1,500-Unit Rental Project Near Arsht With Hotel And Retail

Developer Melo Group is racing to complete two under construction projects, while planning their biggest project yet.

A project with 1,500 apartment units with a hotel and ground floor retail space is planned near their 497-unit Melody rental tower, the developer said yesterday. Melo owns a significant amount of land along the same block.

Melo hopes to retain their reputation for building fast with Melody and the Aria On The Bay condo project in Edgewater.

Vertical construction on the Aria On The Bay condo tower will begin next month. Foundation work started in April, and Melo expects to deliver units in mid-2017.

Melody is expected to be completed in early 2016, after breaking ground in June 2014.

In a press release yesterday, Melo claimed to have completed the 38-story Bay House condo tower in just 14 months, on time and within budget (actual construction time was closer to 18 months, including foundation work.)

Ocean Bank agreed this week to provide a $95 million line of credit to finance Aria, but Melo Group principal Carlos Melo said ‘We are not sure if we are going to need to tap into this source of funding.’

 

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

 

Aria:

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marc
6 years ago

Hope the looks are more Aria than Melody but not holding my breath.

Marc305
6 years ago

This is very interesting, the Melo’s own quite a bit of land in the area. I wonder if this will be built across the street from the PAC or if they will go a block or two west. Either way, this project will definitely improve the area. Looking forward to getting more info.

Anonymous
6 years ago

I believe they have a few lots to the west of Arsht

Alex
6 years ago

people have a problem with melo, their designers and furnishings etc but they’re the only people building anything remotely affordable for real miamians. how many luxury condos can we build for the world’s wealthiest who will then rent to transient bankers, lawyers, doctors, and trust fund babies…surely, we will run out of these types

Anonymous
6 years ago

All project pay huge property tax.
This is dupposed to pay for públic transit. Downtown pays to much of the county’s taxes.

MrDreTheOne
6 years ago

1500 units with hotel and retail? Wow, that sounds like two towers the size of Aria.

Anonymous
6 years ago

This may probably be comprised of three towers – 3 X 500 = 1500.

Danny
6 years ago

Fast n Furious = Cutting corners.

Anonymous
6 years ago

Not always

Danny
6 years ago

For the Melo’s, yes.

Anonymous
6 years ago

2+2=4 even if you think all day

Johnny Wolff
6 years ago

Does anyone else find it alarming that not one single unit has rented at Bay House? Not one! At least none through the MLS. And Icon Bay isn’t faring much better. Only one unit has rented there – a 3 bedroom for $5,000 per month. The one bedroom unit that was asking $4,000 per month two months ago is now asking $3,200 per month, and a one bedroom in the same line but on a higher floor is asking $2,900 per month. Looks like I may have been a bit conservative in my estimate when I told y’all that the one bedroom units at Icon Bay would end up renting for $2,800 per month. I think we’ll see at least a few of them rent for $2,600 per month within the next month. I hate to say I told you so, but I told you so.

Anonymous
6 years ago

Not really. Not many units at Bay House are for rent, and renters–especially at that price point–have a lot of options. Most aren’t too apt to opt for an up and coming area at the same price point as established areas (because that view though). Obviously things will start to change pretty quickly, so the question is what happens to prices in the meantime. Investors who bought Bay House and Icon Bay early got pretty low prices and can make decent margins at lower rents.

Anonymous
6 years ago

Hey, one rented. Plus another rental and pending sale at Icon Bay. (Keep in mind that neither building has been turned over to the association, which significantly limits the loan options.)

Anonymous
6 years ago

1500 apartments in one building. Isn’t that a world record. Well if not it is close to being a crime against humanity.

Yet Another Anonymous
6 years ago

If it’s in the form of a single tower it will be interesting but if it’s spread out or is a “complex” consisting of multiple buildings then not even close.

Anonymous
6 years ago

Well I guess you read something the rest of us didn’t.

“A project with 1,500 apartment units with a hotel and ground floor retail space is planned near their 497-unit Melody rental tower, the developer said yesterday.”

A building with 1,500 apartment units with a hotel would make it at least the size of the planned Expo and Convention Center downtown.

Yet Another Anonymous
6 years ago

It said “a project” it doesn’t even give an address.

Anonymous
6 years ago

And, what’s your point? Brickell City Center is a project consisting of multiple buildings.

The article said Melo is planning this project near their under construction tower Melody, so you narrow down the location.

Yet Another Anonymous
6 years ago

I can’t tell all the Anonymii apart I don’t know who’s having an argument with who here.

Anonymous
6 years ago

Projects of this scope should not be allowed without requiring a substantial investment in the public transit infrastructure.

Danny
6 years ago

Called Impact Fees and Property Taxes.

Anonymous
6 years ago

You’re kidding right? We’ve witnessed indecision, debates, vote delays, and constant meaningless impact studies. AND THAT’S JUST FOR BAYLINK!!!

Meanwhile, Melo says and does, because they’re not POLITICIANS!….and that’s why I love them.

Bring on the apartments Melo.