Mill Creek Residential Begins Construction of Miami Community
- Jul 08, 2021
Mill Creek Residential has started construction on a 97-unit apartment community in downtown Miami that will go along with a 166-unit community that the company acquired in 2018.
Modera Skylar Phase II, which broke ground in February, will offer one-, two- and three-bedroom units with den layouts available. The units will be built with private balconies, walk-in closets and in-home washers and dryers.
Residents will get access to amenities shared between the two communities including a clubhouse, rooftop deck, outdoor fitness and entertainment area, dog park, controlled-access garage, package lockers and optional valet dry-cleaning service. Through Modera Skylar Phase II, Mill Creek will be adding a two-story fitness center and resident lobby to the amenity offerings.
The pair of Modera Skylar communities are located near several of Miami’s Metrorail stations and the area’s major employers including Jackson Memorial Hospital and Miami International Airport. The communities are also within walking distance to the newly opened River Landing development, which offers more than 8.1 acres of mixed use space for office, retail and residential use.
ADDING TO THE ORIGINAL MODERA SKYLAR
The second phase of Modera Skylar will join the original 21-story community that Mill Creek acquired in November 2018. The company recently completed renovations on the first phase community, which offers 166 units in studios, one- and two-bedroom floorplans that range from 401 to 1,148 square feet.
At the time, the acquisition of Modera Skylar was Mill Creek’s third investment into South Florida, following its acquisition of a Boca Raton, Fla., community back in 2016. Since then, the company has expanded its South Florida footprint, particularly in the Miami area. More recently, Mill Creek began construction on a 351-unit community in Coral Springs, Fla., in June, which was followed by the start of leasing at its 296-unit community in Miami.
Jeff Meran, executive managing director for Mill Creek Residential’s Southeast division, said in prepared remarks that the company always highly valued the South Florida apartment market, which also showed its resilience throughout the pandemic. Meran added in his prepared statement that the market has a strong future as the country and economy recovers from the pandemic.