MIAMI—Melo Group is now two months away from completing its latest project, Flagler on the River. The luxury multifamily tower is hoping to attract professionals working in Downtown Miami, Brickell, and in the Health District.

This is significant because it's the first class A rental tower to go up along the river near these employment hubs in this new real estate cycle. This is a true mixed-use project to include 250 units, office space and two restaurants.

GlobeSt.com caught up with Carlos Melo, principal of Melo Group, to get his insights into why developers have so long neglected this area, why there's now a demand for quality rentals there, and how design of the tower help could help activate that area, in part one of this two-part exclusive interview. Be sure to come back this afternoon to read part two, in which Melo will discuss why there's not room for more luxury rental towers on the river.

GlobeSt.com: For decades this well-located section of the river has been neglected. What made you decide the river was ready for a luxury apartment building?

Melo: The fact the river has restaurants like Garcia's, Casablanca, Seasalt, and Pepper Brasserie and Lounge tells you that the area is evolving into a destination of its own. When that happens, people want to live near restaurants and entertainment venues. We initially became interested in the site because of the water views.

From the higher floors, tenants will be able to see as far as the Coconut Grove's waterfront. And the view of the river is very entertaining. You can see from small fishing boats to mega yachts navigating the working river at all times.

We often go into neglected areas in Miami before anybody else does, and the reason is we don't look at the history of the neighborhood. We look at its potential, like we did in Edgewater, not too far from here.

If a community is near employment hubs and/or has water views, there is no way a well-thought development can fail. For example, the last rental tower we built in Edgewater, north of Downtown Miami, was leased out in two months. I never saw anything rent that fast before.

GlobeSt.com: Why do you think there is a demand for quality rental units in that section of the river?

Melo: The location couldn't be better. Flagler on the River is in downtown Miami and between two of South Florida's largest employment hubs: Miami's Brickell Financial District and the Health District. Many of those workers want to live close to work but, right now, they don't have many options.

Flagler on the River is on Miami's historic Flagler Street and minutes away from millions of square feet of office space, the Miami-Dade Circuit Courthouse, The David W. Dyer Federal Building and US Courthouse, and the main Miami-Dade public library.

We are two blocks away from one of Miami's largest mass transit hubs, where the Metrorail connects with the Metromover and several buses. This is pretty much a mass transit-oriented project targeting people who want to use mass transit to get to work rather than sit on traffic for nearly an hour to get to their homes in the suburbs.

GlobeSt.com: How will the design of the tower help activate that area?

Melo: The towers will have 250 apartments, 36,000 square feet of office and two well-known restaurants to be announced soon. We decided to do it that way to create the kind of activities that bring life to a neighborhood.

Combining different uses will bring pedestrian traffic to Flagler Street and the river at all times. For example, the office space will help bring people to the area while residents are at work and the residents will bring traffic in the evening. The two different crowd will keep the restaurants busy for lunch and dinner.

GlobeSt.com: The Miami Downtown Development authority recently unveiled plans to modernize Flagler Street. How will Flagler on the River help reenergize one of Miami's oldest streets?

Melo: Our goal was to build a development that would bring the excitement of east Flagler Street, which ends on Biscayne Bay, to west Flagler, where it meets the river. We want people to be able to walk from the bay to the river in search for good restaurants and entertainment.

Right now, most of the pedestrian traffic concentrates in East Flagler closer to Biscayne Boulevard and the bay. Our project will anchor the river end of Flagler and help bring pedestrian traffic to the historic streets. That traffic will benefit many of the new businesses that are opening and expanding on Flagler Street to serve the area's new residential base.