Melo Group secured a $85m construction loan from Ocean Bank for the development of Art Plaza Apartments. The transit-oriented development is situated just west of the Adrienne Arsht Center for the Performing Arts and one block from the Miami-Dade Metromover School Board Station. The project will include two 34-story towers with 667 multifamily units along with 11,764 sq ft of street-level retail and restaurant space. Building amenities will include a resort-style swimming pool and pool deck, valet service, covered parking, security controlled remote access and a social room for residents. Elena Otero from Holland & Knight LLP represented Ocean Bank. Florentino Gonzalez from Shutts & Bowen represented Melo Group. Currently under construction the scheme is slated for completion in mid-2019.
