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Mill Creek Residential has commenced construction of a 97-unit condominium in downtown Miami, which will be accompanied by a 166-unit condominium that the company acquired in 2018.
Modera Skylar Phase II, which laid the foundation stone in February, will offer one, two and three bedroom units with available den layouts. Units are built with private balconies, walk-in closets, and washers and dryers in the home.
Residents get access to amenities shared by the two communities, including a clubhouse, rooftop terrace, outdoor fitness and entertainment area, dog park, controlled access garage, package lockers, and optional housekeeping. With Modera Skylar Phase II, Mill Creek will add a two-story fitness center and a lobby for guests.
The two Modera Skylar communities are close to several Metrorail stations in Miami and the area’s major employers, including Jackson Memorial Hospital and Miami International Airport. The communities are also within walking distance of the newly opened River Landing project, which offers over 8.1 acres of mixed-use space for office, retail and residential use.
ADD TO 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 the renovation of the first phase of the community, which offers 166 units in studios with one- and two-bedroom floor plans ranging from 401 to 1,148 square feet.
At the time, the Modera Skylar acquisition marked Mill Creek’s third South Florida investment after acquiring a community in Boca Raton, Florida in 2016. Since then, the company has expanded its presence in South Florida, particularly the Miami area. More recently, Mill Creek began construction of a 351-unit facility in Coral Springs, Florida in June, followed by leasing the 296-unit condominium in Miami.
Jeff Meran, executive director of the Southeast Division of Mill Creek Residential, said in prepared remarks that the company has always valued the South Florida housing market, which has shown resilience even during the pandemic. Merano added in its prepared statement that the market has a strong future as the country and economy recover from the pandemic.