ASSOCIATES, ROVR AND BH GROUP BEGIN VERTICAL CONSTRUCTION OF SOLD OUT 225 DISTRICT CONDOMINIUM – PROFILE Miami

Real estate industry leaders Related Group, ROVR Development and BH Group officially opened 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 length of stay (subject to laws and applicable restrictions). Completion is scheduled for 2024.

“District 225 is a project of many firsts. Now, with financing in hand, we are pleased 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, President of Related Group. “We couldn’t be happier with the reception District 225 has received from buyers and the industry. Not only did the project sell out in record time, but it also spawned a whole new type of unrestricted development that has already seen many other projects follow in its footsteps.

Responding to a continued demand for flexible ownership and living options, District 225 offers ready-to-rent, fully-furnished residences that are purpose-designed, built, and licensed to be shared. The project proved to be a hit in the Miami market with all units sold within two months of its commercial launch. Unique from previous condos in the development team’s respective portfolios, District 225 attracted primarily domestic buyers, including young professionals and remote workers in the new era of working from home.

“Downtown Miami is experiencing a renaissance,” says Oscar Rodriguez, founding partner of ROVR Development. “We are delighted to have identified and secured a site that is so central to the transformation of this district. District 225 is a catalyst for flexible living, offering luxury condominiums at affordable prices in one of the city’s most up-and-coming destinations, surrounded by parks, public transportation, entertainment and more.

District 225 joins Downtown Miami as the neighborhood’s booming market sees a resurgence of new residential high-rises. The increased demand for residential units in the area speaks to its growth as a cosmopolitan destination that caters to a lifestyle of living, working and playing. A few blocks away, The Related Group has also announced The Crosby, another short-term rental-ready development located in the Miami Worldcenter mixed-use development.