More new rentals coming on in the Miami market!
5th st largest multifamily development built in Downtown Miami’s Central Business District tops off!!
The project is composed of two towers, with the West Tower expected to top-off later this month. The construction has been underway with rapid speed in the middle of a pandemic as the foundation pour was only 9 months ago. The development has completed an average pace of one floor every three days. The project is estimated to be complete in Summer 2021.
Downtown 5th will have two 52-story towers and feature 1,042 rental apartments with ground floor retail. Preleasing is scheduled to begin in Spring 2021. Apartments will range from studio to three-bedrooms. Units will have balconies with views of Downtown Miami. Building amenities will include three swimming pools, fitness center, social room, game room and café.
Melo Group has a portfolio of more than 6,000 condo and rental units completed throughout the greater downtown Miami area and another 2,000 currently in the works.
Adela on the bay opens doors!
The developers of the American Legion property in Miami’s MiMo District launched leasing of the first phase and plan to break ground on the second phase next year.
Private equity firm Asia Capital Real Estate, also known as ACRE, QuadReal Property Group, the real estate investment arm of the British Columbia public employees’ pension, and Global City Development completed the first phase apartment complex Adela at MiMo Bay.
LMC, Lennar’s multifamily property management company, will manage and lease the 236-unit, five-story, waterfront apartment complex .
The developers plan to break ground on the second phase, a 248-unit apartment building planned for the adjacent 3.5-acre development site, next year. Previous plans called for nearly 500 condos and three towers, and the developers sought to gain a Special Area Plan from the city, only to later call off the plan.
The includes a new 15,000 square-foot American Legion facility.
Adela at MiMo Bay features a swimming pool, a 3,200-square-foot fitness center and a pet spa. Apartment rents range from $1,740 for a 620-square-foot studio to about $4,055 for a 1,553-square-foot, three-bedroom, two-bathroom unit, according to an online listing.
Biscayne 112 is in preleasing stages!!
1 Bedroom $1,641 – 2,181
2 Bedrooms $2,299 – 2,839
3 Bedrooms $3,122 – 3,152
402 Units/8 Stories
Building will be opening this spring!
Gables Station to open up soon!!
Gables Station is a newly constructed 1.2MM SF mixed-use development with for-rent multifamily, co-working, and retail uses connecting Coral Gables to Downtown Miami through the transit corridors of US1 and the Metrorail.
The project spans over three towers and includes 125,000 SF of commercial space, 495 apartments, and 977 parking stalls. 90,000 SF of the commercial space is leased by Life Time Athletic, a premier, national health club and their co-working arm, Life Time Work.
2 acres of connected by over 2 acres along the Underline
Contributions to the Coral Gables Trolley including an extension to thecampus
Pedestrian mobility improvements along US1 including crosswalks
Improvements to US1's aesthetics including additional landscaping consistent with the native plant design on the rest of the property
Designated space for bicycle and car sharing programs
LEED Silver Certification
Covered pedestrian walkways
Integration and recognition of the rich and important Bahamian history as it related to the adjacent Coral Gables neighborhood and their many contributions to the community
Improved public parking with additional spots
Here are the rents:
Studio $2,144 – 2,627
1 Bedroom $2,550 – 3,270
2 Bedrooms $3,650 – 4,415
3 Bedrooms $5,109 – 5,544
Those are just a few big rental openings in the city!
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