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As a powerful new wave of buyers descends on Miami’s residential real estate market, the Melo Group, Miami’s preeminent developer of luxury real estate communities, is bringing its newest development to market — Aria Reserve Miami, a 62-story, twin tower luxury waterfront condominium development on Biscayne Bay in the heart of Miami’s burgeoning Edgewater neighborhood.
The development will mark the tallest waterfront residential twin towers in the U.S. Melo Group is now launching sales for Aria Reserve’s South Tower, which will encompass 391 spacious residences and penthouses.
Designed by world-renowned Arquitectonica, Aria Reserve’s enviable location will boast 550 linear feet of bay frontage, with direct views of Biscayne Bay, Atlantic Ocean, and Miami Beach skyline. Construction of Aria Reserve’s South Tower is expected to begin in early 2022, with completion slated for 2024.
Residences will include impeccably finished units with one- to four-bedroom floorplans measuring between 1,100 and 2,600 square feet in size. A limited collection of 15 penthouse residences will be available, ranging from 3,500 to more than 9,000 square feet, each with its own one-of-a-kind personal three-car garage vault. Three trilevel penthouse mansions will feature private rooftop decks with pools and summer kitchens.
Residences are priced from about $750,000 to over $2 million, and up to $12 million for penthouses. Preconstruction sales are now underway, with starting unit prices averaging approximately $750 per square foot.
“This type of waterfront, luxury condominium opportunity simply no longer exists in Miami at this price point,” said Martin Melo, co-principal of the Melo Group. “With more than two acres of open-air amenities, spaciously oversized luxury residences, and an unmatched waterfront location, Aria Reserve is sure to appeal local empty-nesters as well as out-of-market domestic and international residents looking to relocate to and live full-time in Miami.”
The news of Aria Reserve’s launch comes as Miami experiences an extreme surge in residential real estate sales sparked by a new wave of wealthy out-of-towners opting to make South Florida their primary residence fueled by a more desirable quality of life, and lower business and living expenses — a trend which began with the 2016 tax reform bill and has only accelerated since the COVID-19 pandemic made remote working more commonplace.
Every residence at Aria Reserve will include two private elevators, a dedicated office/bonus room, at least 10-foot-high ceilings, and open flow-through layouts with expansive 11-foot-deep east- and west-facing outdoor terraces boasting unparalleled sunset views to the west and bay and ocean views to the east.
Standout amenities will include a two-acre recreation deck, which will be home to a semi-Olympic sized lap pool and whirlpool spa, a children’s splash pad, playground area, teen lounge and gaming center, a theater, tennis courts, basketball courts, paddle courts, a miniature golf course, and an indoor/outdoor wellness center with spa/steam/sauna facilities, massage rooms, a state-of-the-art gym, yoga lounge and meditation garden.
The building also will feature a double-level 25-foot lobby, a signature waterfront restaurant and café, two additional pool and lounge areas with two Jacuzzis and poolside daybeds, fire pit, dog park, and telescope observatory area looking out over the bay. Residents will have access to a custom-designed watersports dock with available paddleboards, kayaks, and inflatables.
On the ground floor along 23rd Street, Melo Group is developing a public park with open green space that will connect to the Miami Baywalk, providing direct access to the five-mile-long pedestrian and bicycle-friendly waterfront promenade which runs along Biscayne Bay from Edgewater, around Brickell Key, and all the way to Brickell Bay Drive in Brickell.
Aria Reserve has been architecturally designed by Bernardo Fort-Brescia of Arquitectonica, with interiors by MORADA Haute Furniture Boutique, and lush landscaping by ArquitectonicaGEO.
Melo Group has been a driving force behind Downtown Miami’s real estate resurgence with a portfolio of more than 6,000 total condominium and rental units completed throughout the Greater Downtown Miami area. The firm has found success by investing early in prime land and building for market demand, delivering more than a dozen high-end multifamily and luxury condominium towers across the city’s Central Business District, Edgewater, Miami River, and Arts & Entertainment District neighborhoods.
“Our philosophy has always been to build for what the market demands. Over the last 20 years, our firm has acquired land in and around Miami’s Downtown waterfront — and as long-term owners and operators of real estate, our investments have allowed us to develop the right product at the right time to meet demand for locals and residents around the world wanting to live in Miami,” said Carlos Melo, co-principal of the Melo Group. “Now, eight years after acquiring this unique five-acre piece of waterfront land with 550 linear feet on the bay in Edgewater, we’re very excited to launch Aria Reserve, our firm’s latest luxury condominium, in what has become one Miami’s most exciting new neighborhoods.”
Situated along the bayfront just north of Downtown Miami, nestled between the Venetian and Julia Tuttle Causeways — the two main arteries connecting the City of Miami and Miami Beach — Edgewater has fast-emerged as the epicenter of the new Miami. The surrounding neighborhoods of Downtown’s Arts & Entertainment District, Miami Design District, Wynwood Arts District, Midtown Miami, and Miami Beach put residents within blocks of dozens of luxury retail shops, high-end restaurants and world-class arts and culture venues.
Aria Reserve’s preconstruction sales model will allow for 30-percent-down deposits for domestic U.S. buyers, and 40-percent-down deposits for international buyers. Under this model, payments are staggered with 10 percent deposits made at varying stages throughout the course of the development’s construction, from the reservation/contract stage all the way to top-off, with the remainder of the unit’s value due upon completion/closing. In 2011, Melo Group was the first developer in Miami to implement the now-popular 50-percent-down financing model to build its 23 Biscayne condominium.
For more information about Aria Reserve, including preconstruction sales opportunities, contact the sales team at 305-800-8888 or info@ariareserve.com, or visit the development’s temporary sales gallery at 2480 Biscayne Boulevard, Miami, FL 33137. Learn more at www.ariareserve.com.
