Flagler On The River | 32 Floors | 321 Ft | Under Construction

Project Data:

Groundbreaking date:
Location:356 W Flagler Street, Miami, Miami
Developer: Melo
Architect: ITEC DEsign / Melo Architecture
Cost:
Height: 32 Floors
Units: 300 residential
Contractor:

Updated 3/13/2013

Construction to begin in March 2013.

300 unit rental building with office space and ground floor restaurant.

Address: 356 W Flagler Street, Miami

http://www.scribd.com/doc/139812853″]

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Earlier:

Melo, which built 23 Biscayne, bought another property this month (June 2012) in Downtown Miami on the Miami river where they will build a high-rise residential project:


Miami Riverfront Acre Brings $4.5 Million


Cushman & Wakefield of Florida, acting as exclusive agent on behalf of Canpartners Realty Holding Company IV Miami River LLC, an entity related to Canyon Capital Realty Advisors LLC, announces the sale of 1.23 acres on the Miami riverfront.

The parcels represent a prime, mixed-use/multifamily, high-rise development opportunity along the Miami River and located just west of Interstate 95, between the Flagler Street and SW 1st Street bridges on the western section of Downtown Miami in Miami-Dade County, Florida. Multifamily marketing and brokerage specialists Rosendo Caveiro and Brad Capas, senior directors with Cushman & Wakefield’s Florida Multifamily Advisory Group, represented the seller in the transaction.

A development entity led by Melo Contractors Corporation acquired the parcels for $4,500,000 which equates to $84 per square foot or $3,659,000 per acre. Under the Miami 21 zoning designation of T-6 (Urban Core Zone), the site has a Floor Lot Ratio (FLR) of 548,859 square feet and can accommodate 184 residential units.

“This is one of the most exciting multifamily development opportunities in the Miami CBD, especially since it will be developed along the Miami River,” said Caveiro. “With more than 300 linear feet of frontage along the riverfront and excellent exposure above the Interstate 95 ramp, the new development will have 360 degrees of unobstructed views. The views from a high-rise building will be off the charts.”

The site is within walking distance to major employment centers, such as Miami-Dade County’s Government Center, Main Public Library and Metrorail Station, the City of Miami’s Police Department, and a host of other city, county and Federal government offices. Major banks, law firms and private businesses are also within close proximity.

Melo Contractors Corporation has been a very successful developer of luxury rentals and condominiums. Their projects have been built in or within very close proximity to the Miami CBD, therefore, Caveiro anticipates that Melo will develop a project consistent with the high quality and modern design of their past successes.

“Melo builds top-tier rental and condo high-rises that match the site’s prestigious Miami CBD address and high profile location,” said Capas. “We are confident that their Miami River project will prove to be a very successful and visible community.”

Commenting on the state of the South Florida multifamily market, Caveiro and Capas report: “Notwithstanding today’s economic challenges, we are big believers in the South Florida multifamily market. The underlying fundamentals and long-term potential are very favorable.

By taking down a site overlooked by many other developers, Melo has demonstrated great confidence in the Miami CBD. This transaction sends a strong positive signal to the investment and development community about the outlook for Miami and South Florida, and urban multifamily development, in particular.”

http://www.cre-sources.com/miami-riverfront-acre-brings-4-5-million/

14 Comments

  1. langbro

    March 14, 2013 at 5:05 pm

  2. langbro

    March 14, 2013 at 5:08 pm

    Site work underway as of this morning.

    Photos posted above.

  3. langbro

    April 3, 2013 at 5:47 pm

    Here is the HVAC plan for Flagler On The River:

    [embed]http://www.scribd.com/doc/133855922″]

  4. UMdev

    May 6, 2013 at 5:23 pm

    Looks like they’re currently trying to lease the retail space. They’re quoting a completion of April 2014.

  5. dave8721

    May 6, 2013 at 5:45 pm

    That retail isn’t exactly going to be swamped with foot traffic at that cut off location. The River on one side, I-95 on the other, with elevated bridges on the other 2 sides.

  6. sandman

    May 6, 2013 at 9:14 pm

    Flagler on The River is appearing before the Miami River Commission today. They plan on building the retail center on the river and baywalk (across the street from the 32 story tower that is under construction) as soon as a tenant is signed.

    [embed]http://www.scribd.com/doc/139812853″]

  7. Aerial Photography Inc

    May 10, 2013 at 8:51 pm

  8. langbro

    May 24, 2013 at 5:46 pm

    Construction progress:




  9. langbro

    June 11, 2013 at 3:09 pm

    Second crane installed


    photo via bizcanes

  10. HugoMorales

    December 30, 2013 at 2:41 pm

    I am a Realtor, I have client interested in purchasing a unit.
    Please have sales office contact me 305 610-7715
    Thanks,
    Hugo Morales

  11. Alexandria Monge

    January 10, 2014 at 1:56 pm

    Hello, I am a real estate agent and I would like some information for some of my customers. I may be contacted at 786-344-5411.

    Thank you.

  12. Carmen

    February 8, 2014 at 6:06 pm

    Hola !!,estoy interesada en saber en cuanto oxila la renta del edificio aún no terminado, q esta ubicado en flagele de frente al río., gracias espero su respuesta.

  13. Peter Swartz

    February 9, 2014 at 4:42 pm

    To Whom It May Concern.

    How would you like the Original “East Coast Fisheries” Restaurant and Market Place to be your anchor restaurant tenat.

    Call me … I am the original ECF owner and would have an interest in reopening our Famous and Historical East Coast Fisheries BrandRestaurant

    My contact info.

    Peter A. Swartz
    Main: (305) 801-1000
    E-mail: peter@cencopartners.com

  14. kathy

    June 18, 2014 at 6:17 pm

    Building is set to open the first week of July and is about 75% leased. River Seafood and Oyster Bar has leased out the ground floor retail space. A law firm has leased out another floor of retail space.

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