The TREO Group Breaks Ground On $125 Million Mixed-Use Development

Mar 01, 2020 No Comments by

The TREO Group — a Miami-based, privately-held real estate investment and development firm — announced today the groundbreaking of VOX Miami, a transformative mixed-use, transit-oriented development (TOD) neighboring the South Miami Metrorail Station.

The two-phase, $125 million project will incorporate a student housing component and ‘Class A’ office building, to deliver a first-of-its-kind central point of connectivity to the community.

On February 27th, The TREO Group, in collaboration with Miami-Dade County, hosted an official groundbreaking ceremony at the site, 5801 South Dixie Highway, which is located at the corner of U.S.1 and Sunset Drive. Joining in the celebration were Miami-Dade County Mayor Carlos Gimenez, Commissioner Xavier Suarez, Director of Transportation and Public Works for Miami-Dade County Alice Bravo, and other county officials. In his remarks, Mayor Gimenez praised VOX Miami’s role in pioneering and shaping transit-oriented mobility projects by providing commuters access to local and long-distance public transportation.

 

“Transit-oriented developments provide the type of land use needed for quick and easy connections to mass transit options. By increasing access to public transportation, we can reduce the number of cars on the road and traffic congestion,” said Bravo. “Vox Miami is an exemplary public-private partnership. While we provide the space, the county benefits in many ways with station enhancements, ridership increase, and added revenue for the land use. Additionally, this project is a particularly unique for us, because it will be the first-ever all student housing on a Miami-Dade Transit property.”

The first phase of VOX Miami will deliver an eight-story, off-campus student housing building with 326 beds amidst 99 units. Set for delivery August 2021, just in time for the 2021-2022 academic year, it is designed to elevate the residential experience for University of Miami graduate and undergraduate students. Residents will enjoy a wide range of community amenities, including various study lounges, a rooftop terrace, fitness center and expansive pool area. This alternative to traditional university housing will offer attainably priced one- to four-bedroom floorplans, including rent-by-the-bed options. Each unit will be equipped with a private living room and kitchen.

 

“We are thrilled to soon bring to fruition this development that will aid in transcending the economic and social progression of Miami,” said Otto Boudet-Murias, principal with The TREO Group. “VOX Miami is designed to fulfill the needs of various community sectors, from University of Miami students to local businesses, while providing convenient accessibility via the Metrorail and bolstering the overall appeal of public transportation.”

VOX Miami will have a positive fiscal impact on the County in the form of rent and station improvements. Over the term of the lease, it is estimated to generate revenue of approximately $100 million and $250,000 in enhancements to the South Miami Metrorail station, including refined landscaping.

Designed by Perkins + Will, VOX Miami will include active retail along the ground floor to enhance the pedestrian experience and overall aesthetic of the South Miami Station. With connectivity as its cornerstone, the project is located across the street from Downtown South Miami, enabling students and visitor’s walkability to nearby restaurants, bars and shops.

VOX Miami’s second phase will be comprised of 195,000-square-feet of “Class A” office space and additional ground floor retail. A construction timeline has not been announced.

The project is part of The TREO Group’s portfolio of more than $500 million across all major real estate classes. The firm is also developing Regatta Harbour in Coconut Grove – a 9.5-acre lifestyle destination that is spearheading the areas waterfront resurgence with a new marina, 100,000 square feet of retail and restaurant offerings and restored historic landmarks.

 

 

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Industry News, Miami-Dade County Multifamily, Miami-Dade County Office, Miami-Dade County Retail, Multifamily, NA, Office, Retail
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