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National Multifamily

MIAMI: Next Frontier For Apartments

We got a hot tip that all those cranes in Miami might want to head just north of Downtown. The next frontier for residential properties is in the arts-and-entertainment node, Melo Group principal Carlos Melo (right, with brother and fellow principal Martin Meno) tells us. The area's currently short on living space (which would spur more restaurants and retail) for those working nearby, and Carlos says there's demand among professionals for residences in this kind of urban, walkable place. And Melo Group intends to make the most of it. Recently Carlos and Martin unveiled plans for Melody, a 36-story residential tower (slated for mid-2015 completion) that will rise on the site of a parking lot next to the Adrienne Arsht Center for the Performing Arts. (It will be a great place to live if you love ballet or ballet dancers.)

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