Mill Creek Announces Groundbreaking of Modera Riverside
Contemporary High-Rise Will Add 428 Homes, Retail Near Downtown Miami
MIAMI, Dec. 20, 2021 /PRNewswire/ -- Mill Creek Residential, a leading developer and operator specializing in premier rental communities across the U.S., today announced it has broken ground on Modera Riverside, a contemporary mixed-use apartment community located along the Miami River at the intersection of Brickell, Downtown Miami and the Miami River District neighborhoods.
The 36-story high-rise, which will feature 428 apartment homes and 4,266 square feet of ground-floor retail, sits in one of the city's most walkable and transit-friendly locales. The community is the initial phase of a larger Miami Riverside Center redevelopment plan, which will ultimately transform the area into a state-of-the-art waterfront locale that will include a new public riverwalk.
Mill Creek is partnering on Modera Riverside with Adler Development, which served as the land seller and will remain a development partner moving forward. The deal was brokered by Berkadia. First move-ins are anticipated for late summer 2024.
"We're excited to get started on Modera Riverside, which we believe boasts an unrivaled location at the confluence of three of the city's most vibrant submarkets," said Andrea Rowe, managing director of development in South Florida for Mill Creek Residential. "While the proximity to Brickell, Downtown and Riverside neighborhoods is ideal, the community will also sit near The Wharf, which has genuinely boosted the city's cultural and culinary scenes and is becoming increasingly popular. We're eager to join such a lively area and are committed to offer a best-in-class experience in the neighborhood."
Situated at 300 Southwest 2nd Avenue, Modera Riverside will include 40,000 square feet of amenity space and two distinct amenity decks, which will provide sweeping views of the ocean, Biscayne Bay and the Miami skyline. The site boasts a superb Walk Score of 92. In addition to walkable access to the adjoining neighborhoods, residents will have expedient connectivity to the Metrorail and multiple additional transit options that connect with the city's key attractions, along with the area's prominent financial and tech-based employment centers.
Modera Riverside will offer a mix of studio, one-, two- and three-bedroom homes with an average square footage of 876. Community amenities, highlighted by the rooftop decks, will consist of a swimming pool, grilling area, landscaped courtyards, clubhouse, onsite pet spa, free WiFi, game room and a club-quality fitness center with group fitness area and yoga/pilates studio. Residents will also have access to a conference room, co-working spaces, private workstations, digital package room, dedicated bike storage, additional storage space, valet dry cleaning and secured garage parking with electric vehicle stations available.
Apartment homes will be delivered with a variety of refined features, including nine-foot ceilings, wood plank-style flooring, Energy Star stainless steel appliances, quartz countertops, open dining areas, upgraded cabinet pulls, tile backsplashes, kitchen islands, built-in shelves, walk-in closets, smart thermostats, in-home washers and dryers, private patios or balconies and key fob access. Bathrooms will include tile surrounds and custom cabinetry.
Modera Riverside marks Mill Creek's ninth development in Miami and adds to the company's growing South Florida pipeline.
About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on the development, acquisition and operation of rental communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida proactively develops, acquires, constructs and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable markets in Seattle, Portland, the San Francisco Bay area, Southern California, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of September 30, 2021, the company's portfolio is comprised of 111 communities representing over 30,500 rental homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.
About Adler Development
Adler Development is a multigenerational real estate company headquartered in Miami, Florida that offers a full range of services that leverage the strength of the organization's experience to maximize the value of its real estate assets. Throughout its 60-year history, Adler Development has developed and acquired over 20 million square feet of industrial, office, and retail real estate and over 8,000 residential units. Through its operating entities, Adler owns and manages approximately two million square feet of commercial real estate throughout the greater Southeast and has over 4,000 multifamily units owned or in construction and development. Recent notable projects include the 467-unit Shorecrest Club in Miami, the 250-unit Pearce at Pavilion in East Tampa, the 294-unit Motion at Dadeland in Miami-Dade, the 312-unit Core at Link at Douglas in Miami, the 421-unit Cascade at Link in Miami, Link at Douglas phase 2 project (Miami), 750 units at Broward College's Central Campus in Davie and the multi-phase mixed-use redevelopment of the Miami Riverside Center. www.adlergroup.com.
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SOURCE Mill Creek Residential
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