The Real Deal Miami

Melo completes Melody apartment tower in Miami’s A&E district

497-unit building topped off in January

May 18, 2016 09:45AM

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Melody Tower

Melody Tower

Melody Tower, a new 38-story apartment building in Miami’s Arts & Entertainment district, is now completed and open to tenants. 

Melo Group delivered the 497-unit tower to its tenants last week. The project, at 245 Northeast 14th Street, includes 8,500 square feet of ground floor retail and restaurant space with an outdoor plaza. Brazil’s Parmegiana Factory and New York Miami Pizza are set to open this quarter, according to a press release. About 2,900 square feet of retail is still available.

Rents at the fully leased building range from $1,650 for a one-bedroom apartment to $2,350 for a three-bedroom unit. “We’re seeing strong demand from young people who can’t necessarily afford to buy a new luxury condo but still want to take advantage of everything Miami’s urban core has to offer,” Carlos Melo, principal of the Melo Group, said in the release.

Units feature granite countertops, stainless steel appliances, porcelain tile, washers and dryers, and balconies. Amenities include a swimming pool and pool deck, Jacuzzi, fitness center, valet and covered garage parking. The building will also feature “Endless Melody,” an eight-foot tall sculpture by artist Helidon Xhixha.

Property records show Melo paid $9.5 million for the 1-acre site in 2013, which was once used as a surface parking lot from the Adrienne Arsht Performing Arts Center across the street. The developer topped off construction earlier this year.

Melo also owns the property next door, where it plans to build Square Station, a 710-unit, two-tower project set to start construction this year.

Developer NR Investments is also active in the former Omni neighborhood, now characterized by the Arsht Center and nearby museums. NR Investments is building Canvas, a condo tower, and completed the Filling Station Lofts, a rental tower on North Miami Avenue. – Katherine Kallergis