Aria on the Bay, Melo Group’s newest luxury condominium tower, is set to rise along Biscayne Bay at 1770 N. Bayshore Drive in Downtown Miami’s Arts & Entertainment District. The 53-story Arquitectonica-designed tower’s bay-front location overlooking Margaret Pace Park will boast direct views of Biscayne Bay and the Miami Beach skyline. Construction of Aria on the Bay is estimated to begin in the second quarter of 2015, with completion slated for 2017.
Since arriving in Miami from Argentina in 2001, Melo Group’s father-and-sons team – led by Jose Luis Melo and his two sons Carlos and Martin Melo – has been a driving force behind the city’s real estate resurgence, with Aria on the Bay marking the firm’s 14th residential tower in the Greater Downtown Miami area. Melo was the first developer in Miami to use the now popular cash-focused financing model to build a condominium project. The firm made headlines in 2011 when its 23 Biscayne project raised Miami’s first condo construction crane in nearly three years using the 50 percent cash-down financing model it leveraged to build its projects in Argentina.