Two New Apartment Towers With Combined 660 Units In Downtown & Overtown Near Fully Leased

Two recently-completed luxury apartment towers in downtown Miami and Overtown are at or near fully leased.

The first, Grand Station Apartments, opened in August 2021 with 300 units.

ROVR Development, the developer of Grand Station, announced last week they secured $95 million in permanent financing for the project from PNC Bank.

All units at Grand Station have been leased, ROVR said.

ROVR developed the project in a partnership with the Miami Parking Authority.

In Overtown, the Soleste Grand Central apartment building was completed late last year with 360 units.

Denver-based Avanti Residential Avanti purchased the property for $181 Million – equal to around $502,700 per apartment, according to a July 11 press release.

Soleste achieved 95% occupancy in just six months, the release said. It is now 98% percent leased, a representative told Commercial Observer.

 

Grand Station:


Soleste:

(photo: Avanti)

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Anonymous
6 months ago

Overtown will soon become an amazing place to live in!

Pro-Gentrification
6 months ago

It’s still got LOTS of work to do before that, but I’m certainly optimistic.

Anonymous
6 months ago

Wynwood changes rather quickly so Overtown could easily follow

Anonymous
6 months ago

Wynwood changed rapidly once the zoning changed. Some of these 2-4 story buildings in Overtown need to be rezoned to bring in more investors

Anonymous
6 months ago

Agree. A refreshed look for the area

Anonymous
6 months ago

As soon as wealthier people start moving in, more tax dollars come in, and that is when you will see more happening.

Anonymous
6 months ago

NOT!!!

Melo is sigma and chad
6 months ago

This is why we need more towers in the urban core. still plenty of empty lots or one/two floor derelict buildings.

Jose
6 months ago

Boring

Southwest Til' I die!
6 months ago

It is good density.

Caca
6 months ago

Did they paint the sidewalk here the same shade of pink as a nod to south beach? Or was it always that color on this block?

Anonymous
6 months ago

The Grand Station building turned out better than I imagined.

Anonymous
6 months ago

Meh, its floor plans are 100-200 sq ft smaller than what other apartments in Downtown offer AND they don’t have balconies, BUT they charge the same price as every other apartment building. Its sheer insanity.

Anonymous
6 months ago

Right? Imagine living in Miami without a balcony. That seems insane to me.

Anonymous
6 months ago

i’ve walked past both of these projects and i love how wide the sidwalks in front of the projects are.
soon the trees will mature and provide more shade. great additions!

Anonymous
6 months ago

Yeah.. the scooters and bicycle riders are gonna love them!

Anonymous
6 months ago

Overtown Winning.

Jsh
6 months ago

More luxury apartments. Not what real Miamians struggling with housing affordability need.

Anonymous
6 months ago

Luxury? its new But not Luxurious that for sure.

Anonymous
6 months ago

Grand Station, what a joke….imagine spending 3.5k for an apartment in Downtown Miami….WITHOUT BALCONIES. A fool and his money are easily separated.

Anonymous
6 months ago

Overtown has always been an amazing place to live!! They just starting to invest in it and build theses Overprice, Overbearing building for theses Outsiders but now for the locals that why it Overprice and Unbelievable what going On!

Anonymous
6 months ago

Wow! It’s amazing to see that when you make a comment and those that do not agree or (dislike) it seems to bury it in the midst of others comments near the bottom even after it was posted 2 days later, After those from 6 day’s ago. Thank You The Next Miami!!

Anonymous
6 months ago

The irregular balconies do make it look cheap, as does the Tetris paintjob on Grand Station.

Anonymous
6 months ago

People love anything that is new.

Anonymous
6 months ago

Lots of empty lots and underutilized space so yes! Everything counts while Miami grows!

Anonymous
6 months ago

Yep.. “F” Miami Beach.. mainland Miami needs to get it’s own thunder.

Anonymous
6 months ago

I’ve been vacationing at Miami Beach for the past decade but lately I’m finding myself more and more in Miami, downtown, Brickell, Wyndwood, etc. so much to do and so many nice restaurants. Miami Beach is nice but I like visiting both and next I wouldn’t mind staying at a hotel downtown rather than by the beach.

Anonymous
6 months ago

That’s why mainland Miami need a few resort casinos to pull in more adult vacationers and add a little more excitement to the city.

Anonymous
6 months ago

Tourism isn’t real growth, Miami needs to build for its local industry and new permanent residents.