Altman Opens Luxury Property in Miami
This community is situated in the Kendall neighborhood.
Altman has opened its newest luxury community, Altis Grand Kendall, a 342-unit property in Miami’s Kendall neighborhood.
The mid-rise building, located at 9455 SW 137th Ave., designed by Anillo Toledo Lopez, LLC, has floorplans ranging from 620 to 1,412 square feet. Rents for the one-, two-, and three-bedroom apartments range from $2,195 to $4,090.
“Despite a large number of deliveries throughout Miami and Miami-Dade, there hasn’t been a new, quality product delivered in Kendall in over five years, so leasing demand at Altis Grand Kendall has been very strong,” Tim Peterson, chief strategy officer, Altman Living, told Multi-Housing News. “Our first units were delivered in mid-September of this year, and we have already leased 93 units.”
Altis Grand Kendall’s residences feature stainless steel appliances, hard-surface flooring, quartz countertops, full-size pantries, double sinks in primary bathrooms, soaking tubs, walk-in glass showers, full-sized washers/dryers, patios or balconies and walk-in closets.
The community features pickleball courts, an outdoor pavilion with grills, a fireplace, a pool, a dog park and pet spa and a playground. Electric vehicle charging stations are available. Indoors, there is a fitness center with a yoga and a cycling studio, a spa lounge with a sauna and a treatment room for wellness therapies, workspaces, private conference rooms, a resident lounge and a Starbucks coffee.
Altis Grand Kendall residents are nearby upscale shopping, top-rated schools, the Lowe Art Museum, Zoo Miami and Dadeland Mall.
Miami market remains consistent
Miami’s multifamily performance has remained consistent despite economic hurdles, striking a balance across fundamentals, according to Doug Ressler, manager, business intelligence, Yardi Matrix.
As of July, the metro’s average overall occupancy rate in stabilized properties was unchanged at 95.5 percent year over year. However, the Lifestyle figure saw a 20-basis-point uptick to 95.3 percent, he said.
Employment gains in Miami stood at 2.4 percent in the 12 months ending in June, the equivalent of 67,600 net jobs. The metro’s growth rate was nearly double the U.S. average. And according to preliminary data from the Bureau of Labor Statistics, the area’s unemployment figure stood at 3.1 percent as of August, 110 basis points below the US rate.
In Miami’s Overtown neighborhood, construction has begun on an affordable community set to include 120-units. The project is part of a two-phase development. Apartments are reserved for residents who earn at or below 50, 60 and 70 percent of the area median income.
