RELATED, ROVR AND BH GROUP BEGIN VERTICAL CONSTRUCTION ON SOLD OUT DISTRICT 225 CONDOMINIUM

Real estate industry leaders Related Group, ROVR Development and BH Group have officially broken ground on the sold-out District 225. Located at 225 North Miami Avenue in Downtown Miami, the 343-unit property is a new luxury condominium tower offering residents the ability to host their condos on Airbnb for any stay length (subject to applicable laws and restrictions). Completion is slated for 2024.

“District 225 is a project of many firsts. Now, with financing in hand, we’re happy to share that the development is also the first of Related’s next-generation Miami-Dade condos to begin vertical construction,” said Jon Paul Perez, Related Group president. “We couldn’t be more pleased with the reception District 225 saw from buyers and the industry. Not only did the project sell out in record time, but it also gave birth to an all-new type of restriction-free development that’s already had many other projects follow in its footsteps.”

Responding to a sustained demand for flexible ownership and living options, District 225 delivers ready-to-rent, fully furnished residences purposely designed, built and licensed to be shared. The project proved to be a success in the Miami market with all units sold within two months of its sales launch. Unique from past condos in the development team’s respective portfolios, District 225 attracted predominantly domestic buyers, including young professionals and remote workers in the new work-from-home era.

“Downtown Miami is going through a rebirth,” says Oscar Rodriguez, founding partner of ROVR Development. “We’re excited to have identified and secured a site that is so central to this neighborhood’s transformation. District 225 is a catalyst for flexible living, offering luxury condominiums at attainable prices in one of the city’s most promising destinations, surrounded by parks, public transportation, entertainment and more.”

District 225 joins downtown Miami as the neighborhood’s burgeoning market experiences a resurgence of new residential high-rises. The increased demand for residential units in the area is a testament to its growth as a cosmopolitan destination that caters to a live, work, play lifestyle. Just a few blocks away, The Related Group also announced The Crosby, another short-term-rental ready development located within the Miami Worldcenter mixed-use development

At The Heart Of It All. Downtown Miami's Metamorphosis Into Global Hub Accelerates

Today, Miami’s Downtown neighborhood may be one of the world’s great cosmopolitan centers, but even just a few years ago, the area was a ghost town by nightfall. According to Sonia Figueroa, Senior VP for development powerhouse Related Group, “Offices would close, and a mass exodus would begin, with thousands commuting to residential areas like Coral Gables or Brickell. By 5 o’clock the streets would be totally deserted. It’s incredible to see how things have changed.” 

This transformation has been years in the making, requiring significant investments across countless sectors. “There wasn’t a single catalyst,” adds Figueroa. “It was many different things coming together that really drove the change. The opening of the Brightline’s MiamiCentral Station, the progress on Miami Worldcenter and, of course, the huge influx of corporations and new residents from across the country, all became a kind of perfect storm.” 

The data backs up the idea of a seemingly overnight transformation, with a recent report from Miami DDA showing a 40 percent surge in population in the downtown area since 2010 – and a 56 percent increase since 2000. 

Often the best-attuned to neighborhood trends, Miami’s developers were among the first to recognize just how quickly the area was changing. And the residential demand that would soon come.  

According to Figueroa, “Downtown Miami always had incredible potential. It’s right by the bay, it’s seconds from our best museums, our stadium, transportation options – everything. The only thing missing was residential product that could live up to those kinds of surroundings.” 

Where old, dilapidated buildings once stood, now live dozens of sleek condominiums, trendy restaurants and bars and an ample selection of retail boutiques. In fact, rental inventory in Downtown Miami has more than doubled since 2012. More than 5,900 apartments have been completed in the last two years, and another 5,900 units are under construction. 

Developers like Related Group are betting big on the future of the so-called “New Downtown.” In 2021 alone, the company announced plans for three luxury condo towers in the neighborhood, including District 225 and The Crosby – two short-term-rental-ready projects – and Casa Bella Residences by B&B Italia, a project Related believes will speak to Miami’s growing numbers of high-design aficionados. 

Built in partnership with Alta Developers, the 55-story condo looks to take a significantly more upscale approach than its neighbors, especially when it comes to its interior and exterior designs. The property is the first residential partnership for famed Italian design house B&B Italia, known around the world for its high-end collaborations with brands like Rolex, Hermès, and Rolls-Royce.  

The project’s approach to amenities is another indicator of its high-end focus. “We wanted to offer something for every lifestyle,” says Figueroa, lead developer on the project. “Entertainers will have many indoor and outdoor lounges at their disposal. Fitness and wellness enthusiasts will be able to enjoy a world-class fitness center and spa. As for those residents who love to soak up the sun, the renowned landscape designer Enzo Enea created a breathtaking pool deck complete with private cabanas and a poolside bar.”  

During the project’s launch in late 2021, Related President Jon Paul Pérez said, "We are in the middle of one of the most robust markets in Related’s history, a trend we expect will pick up further with the launch of Casa Bella.” And indeed, it did. Just weeks after launch, Casa Bella has already accumulated over $100 million in reservations. 

While still early on in its reimagining, the overwhelming demand for residential units in Downtown Miami has made one thing clear: the neighborhood is ready for its moment in the sun. 

Units at Casa Bella by B&B Italia range from $650,000 to $3.7 million for non-penthouse floorplans. For more information or to arrange a tour of the sales gallery, please visit CasaBellaResidences.com or call 305-290-1008.

This article was produced in partnership with Related Group