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AMLI launches leasing of massive Midtown Miami project during pandemic
Asking rents start at $1,850 for a studio
Apartment developer AMLI is launching pre-leasing of its massive Midtown Miami project, offering virtual tours due to the coronavirus outbreak.
The Chicago-based multifamily giant is completing construction of AMLI Midtown Miami, a 719-unit complex at 3000 Northeast Second Avenue, near Miami’s Edgewater neighborhood.
Monthly asking rents for studio apartments start at $1,850, $2,700 for two-bedrooms and $3,900 for three-bedroom units, according to AMLI’s website. Move-ins could begin in June, though it is unclear if the developer is opening the entire project at once.
The sprawling development features a ninth-floor pool deck with cabanas, volleyball and bocce ball courts, a two-story fitness center with yoga and spinning, workspace, a golf simulator and resident bar and lounge with a catering kitchen, and pet spas.
Units will have Samsung smart home appliances, smart thermostats, Italian cabinets, wine chillers, and porcelain tile floors.
The leasing office is closed because of the outbreak of Covid-19, which has shut down all non-essential businesses in South Florida. AMLI is offering live virtual tours during regular business hours, according to its website.
Apartment rents were expected to rise this year in South Florida prior to coronavirus. Now, due to mass layoffs of workers, landlords will be grappling with tenants who can’t pay the rent. The county also put a freeze on evictions during the pandemic. In New York, where the city’s death toll neared 1,000 on Wednesday night, landlords are predicting some renters will not pay their rent this month.
In addition to pre-leasing during a pandemic, AMLI will also have competition from other new or recently completed rental buildings in Midtown and Edgewater. Earlier this year, Magellan Development Group launched pre-leasing of the 447-unit Gio Midtown, previously known as Midtown 6, which backs up to the AMLI site. The building has not yet been delivered.
AMLI has owned and developed thousands of apartments in South Florida. Earlier this year, the company paid $35 million for a site in Wynwood. David Edelstein, who sold the land to AMLI, said that the firm plans to build a mixed-use project with 321 residential units and 45,000 square feet of retail.