Alta Development Offers South Miami Student Tower for Sale

Alta Development announced it has put SoMi Walk, a 16-story, 173-unit, 673-bed student housing tower in South Miami, up for sale to qualified buyers. The company did not disclose a specific sale price.

The tower, located at 7090 SW 59th Place, is currently under construction with the foundation complete. It is scheduled to receive its temporary certificate of occupancy in June 2028, ahead of the Fall 2028 academic year. Pre-leasing has already opened via the website SomiLuxuryStudentHousing.com.

SoMi Walk is described as the first tower of its height in the City of South Miami. It is situated five minutes from the University of Miami campus and two minutes from the South Miami Metrorail station. The residences are fully furnished and offered on a rent-by-the-bed basis, with each resident having a private bedroom and bathroom.

Alta Development stated the project offers institutional buyers a rare opportunity to acquire a de-risked, entitled, purpose-built luxury student housing property in a highly sought-after university market. The building is anticipated to be completed in time for the Fall 2028 semester.