Miami Developer Plans Four-Tower Project

Real estate developer Melo Group of Miami plans to redevelop an entire city block into a residential and retail project that will include four high-rise towers up to 60 stories, The Next Miami reports. The company was in the process of obtaining the 3.04-acre property at 1700 Biscayne Boulevard, north of Downtown Miami. The plan calls for up to 1,500 residential units, both apartments and condos, in addition to retail outlets. The proposed residential units are in line with the city’s current zoning code in the area. In earlier plans, 1700 Biscayne was approved by the city for a Major Use Special Permit under the old zoning code. Those plans included 672 residential units, 505 hotel keys and 300,000 ft² of commercial space. Officials with Melo said they are paying US$105 million for the property — all cash. The company has not said when the project would get underway.