The developer of Florida’s upcoming Brightline train service is getting into the rental apartment business.
Florida East Coast Industries (FECI), the company behind the $3 billion, 235-mile express train system that will eventually connect Orlando to Miami, is launching a new real estate brand, to be called Park-Line.
The initial offering will be three towers of rental apartments. The first tower, due in 2018, will offer 290 units ranging from studios to two-bedrooms at Brightline’s West Palm Beach station.
The other two towers, to be at the MiamiCentral station in downtown, will offer a combined 816 units ranging from studios to three-bedrooms and are due in 2019.
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The exact street addresses for the new buildings are not yet available. The MiamiCentral station stretches along NW First Avenue from Third to Eighth streets.
“Park-Line residences are designed for people on the move who want to live and travel smarter,” said Daniel Quintana, vice president of development for Florida East Coast Industries, in a statement. “Each of the innovative towers in West Palm Beach and Miami will expand residents’ playground and working options by utilizing a vast variety of transit options just steps away from their front door.”
Train service from West Palm Beach to Fort Lauderdale is expected to begin in late summer. The Fort Lauderdale-Miami leg will begin operations in early fall.
FECI will team up with the Lincoln Property Company to develop the residential buildings, which will boast floor-to-ceiling windows and designer finishes.
The 11-acre, live-work-play MiamiCentral station will include a 50,000 square-foot food hall anchored by Monger, a new restaurant by celebrity chef brothers Bryan and Michael Voltaggio. There will also be 180,000 square feet of retail and 300,000 square feet of Class-A office space.
MiamiCentral, which is expected to open by the end of 2017, will eventually add a Tri Rail stop. The existing Metrorail and Metromover Government Station at 101 NW First St. is located two blocks away.
“One of the things we've been seeing in recent years is the growing urbanization of Miami,” said Alyce Robertson, executive director of the Downtown Development Agency. “Mass transit is one of the big drivers of that trend. You’re seeing more opportunities for people to ditch their cars, because you can get around downtown once you’re here. The addition of apartments at MiamiCentral opens up a lot of tremendous opportunities.”