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Armed with a $103M BB&T construction loan, Melo Group has officially started Square Station, a 34-story apartment tower in Downtown Miami's Arts & Entertainment district.
Melo plans to develop 710 units and ground-floor retail in the tower at 1424 NE Miami Place, which is adjacent to the Miami-Dade Metromover School Board Station. Melo is targeting middle-income renters seeking luxe apartment finishes, such as granite countertops, large balconies, resort-style pools, jacuzzi and other trappings going for as much as $2,500/month.
Most recently, Melo completed Melody Tower, a nearly 500-unit apartment building, also in the same area. Square Station is expected to deliver in 2018.
