Brightline apartment rental towers open their doors in downtown Miami
Moving trucks may be parked near Virgin MiamiCentral soon.
Park-line Miami at 100 NW Sixth St., the two 30-story apartment buildings for rent above the train station, opened its leasing office in mid-January. Najam Syed, head of asset management at Brightline, soon-to-be Virgin Trains USA, said his team is hopeful that it will soon be leasing the 816 luxury units after receiving more than 1,000 inquiries and referrals. He expects residents to move in as early as February.
The North and South towers, which are close to AmericanAirlines Arena, offer a variety of layouts. The smallest unit, a 630-square-foot studio and bathroom, will lease at $1,900 per month. The largest unit, a 2,865-square-foot three-bedroom, three-bath apartment, will start at $4,200 per month. Pricing is based on the market average in Edgewater and the medical district, Syed said.
“With new supply coming on board [in the area], we expect rent to be stable for the next two to three years,” Syed said. “We expect rent growth afterwards.”
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Amenities include a quarter-mile outdoor running deck, dog park, gym, outdoor movie screen and two pools. Bozzuto Group will manage the property.
Other luxury residential projects are planned for the area. Miami Worldcenter, an eight-minute walk from Park-line Miami, includes Paramount Worldcenter and Legacy Hotel & Residences on its 27-acre development.
“Florida has always been plagued by an oversupply problem,” Syed said.
But, he noted, Park-line residents would have retail and restaurant options outside of their door, and they would be steps away from mass transit.
“It’s a quality you can’t get in Edgewater and Brickell,” Syed said.
Plans for the residential towers were first announced in 2017. The project follows the trend of developers adding more luxury rather than affordable units onto the market.
This story was originally published January 22, 2020 at 7:00 AM.
