MIAMI — Miami-based Melo Group has closed a $95 million loan from Ocean Bank to fund the construction of Aria on the Bay, a 647-unit luxury condominium tower under development at 1770 N. Bayshore Drive in downtown Miami’s Arts & Entertainment district. Designed by Arquitectonica, the 53-story condo tower will overlook Margaret Pace Park and Biscayne Bay. Site development is underway and vertical construction is set to begin next month, with delivery slated for 2017. Upon completion, Aria on the Bay will offer one-, two- and three-bedroom condos, as well as three-story upper penthouses, with prices ranging from the $400,000s to more than $12 million. Residence features include private elevator access, floor-to-ceiling glass, wrap-around terraces, bay and city views, open-plan living areas, new finishes and fixtures and European-style kitchens with custom-designed cabinetry. Amenities will include a resort amenity deck on the 14th floor with four pools, a sundeck lounge with fire pits, barbecue grills and outdoor summer kitchens. Additional features include private spa and massage treatment facilities, a fitness center and yoga studio, indoor/outdoor social room and a private screening room with theater seating. The project will also feature about 20,000 square feet of commercial space on the lower floors, including office, retail and restaurant space at the ground level.
Aria on the Bay will offer one-, two- and three-bedroom condos, as well as three-story upper penthouses, with prices ranging from the $400,000s to more than $12 million.
Melo Group Secures $95M Construction Loan for Condo Development in Downtown Miami
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