Location Ventures has broken ground on the URBIN Miami Beach condo, coworking and wellness project.
The Coral Gables-based developer is building the six-story project at 1260 Washington Ave. It will feature 69 condos, 20,000 square feet of coworking space, a market, a rooftop bar and pool, and about 5,000 square feet of wellness amenities.
Locations Venture said the condos are fully sold out. They will range from 275 square foot studios to 1,334 square feet with four bedrooms. The condos are designed in a co-living style, with separated bedrooms and shared kitchen, dining and living areas. The condo will permit both long-term and short-term rentals. It also has a program where owners could lease back the property and stay there up to 90 nights a year with professional management in house.
Prices ranged from $400,000 to $2.4 million.
URBIN Miami Beach was originally proposed as a co-living rental project before shifting to condos.
“Following immense sales interest, we are excited to initiate the construction process for the first URBIN location at a ripe moment in Miami Beach’s history,” said Rishi Kapoor, CEO of Location Ventures. “This property will infuse living, working and wellness into a singular location, while contributing to the quickly evolving, iconic Washington Avenue district.”
URBIN Miami Beach should be completed in 2025. Miami-based Winmar Construction is the general contractor and Miami-based Touzet Studio is the architect.
The developer purchased the 33,488-square-foot site in 2021 for $20 million. It is renovating an existing office building into the wellness and coworking center. It demolished a retail building in order to construct the condo.
Location Ventures plans to build the next URBIN project in Miami’s Coconut Grove, where it anticipates breaking ground in 2023.
Sign up here for the Business Journal’s free morning and afternoon daily newsletters to receive the latest business news impacting South Florida. For more business intelligence, follow us on LinkedIn, Facebook, Twitter and Instagram.
Comments are closed.