Another transit-oriented project is underway in Miami. This one is just for students
University of Miami undergraduate and graduate students will soon have more housing options in arm’s reach.
The Coconut Grove-based real estate investment firm TREO Group expects to start construction on its mixed-use development called VOX Miami at 5801 South Dixie Hwy. in late February. The project is a four-minute walk from the county’s South Miami Metrorail Station at 5949 Sunset Dr. The project is made up of two buildings, one for student housing and another for Class A office space.
The first phase brings online the eight-story student housing building with 361 units. The building is expected to be completed by August 2021, in time for the 2021 academic year.
The firm will pay the approximately total $125 million construction costs for construction on both buildings.
“There is a high demand for student housing developments. Due to a lack of housing options on campus, students are forced to rent homes in neighborhoods around the university or in conventional apartment communities,” Otto Boudet-Murias, a principal for TREO Group, said by email.
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The leases have yet to be determined, but, Boudet-Murias said “VOX Miami’s student housing development is projected to cost less than the new UM housing developments.”
The building will have an array of amenities, including a pool, rooftop terrace, fitness center and resident lounge.
The TREO Group proposed a transit-oriented project in 2016 and the county approved it in 2017. The county has approved other transit-oriented projects as part of its Transit-Oriented Development initiative. Other projects underway include Link at Douglas, which construction started in April.
“With Miami’s commitment to funding the Underline and various proposed or under construction developments at or around the Metrorail station, there is a clear need for additional transit-oriented projects,” Boudet-Murias said.
The 10-mile linear park the Underline is expected to activate areas underneath several Metrorail stations with amenities, including bike and walking trails as well as kids’ areas.
Other projects
The University of Miami will fund a $260 million student housing village to replace four of its existing residential buildings. Coastal Construction, the contractor on the project, is expected to break ground on the project sometime in 2020.
Students attending Florida International University are also getting more student housing options. The One at University City opened its leasing office in October with students expected to move in starting in the summer. Other multifamily developers are buying land near the FIU main campus near Sweetwater. Adam America Realty has 2.2 acres as of its most recent purchase in January.
This story was originally published February 18, 2020 at 7:00 AM.
