Miami-based Related Group has been instrumental in creating housing across the income spectrum in its hometown. Two of its newest multifamily developments—i5 Wynwood and The Highley—are helping to transform Miami’s Wynwood neighborhood into a live-work-play community.
CEO Jon Paul Perez shares with Multifamily Executive what’s fueling demand at these recent developments, how Related Group is balancing affordable and luxury housing priorities, what’s in the Florida development pipeline, and how the firm is expanding its international footprint.
What opportunities are you seeing today in the multifamily rental market?
The multifamily market is evolving rapidly. With a growing renter-by-choice population and shifting lifestyle priorities, the opportunity today lies in creating flexible, high-quality housing that resonates with modern urban dwellers.
Take Wynwood, for example. It’s a neighborhood we’ve helped transform from an arts district into a full-fledged work-play destination. Our two newest projects there—The Highley House and i5 Wynwood—are tapping directly into this demand. Both were designed with today’s renter in mind: experience-driven, walkable, design-forward, and community-centric.
Renters today are looking for more options. Not everyone wants the standard two-bedroom, two-bath apartment anymore, and that’s something we’ve really leaned into. With i5 Wynwood, we’re focused on flexibility. It’s a co-living model that makes shorter leases and lower rents possible, but it still delivers on design and amenities, which is important to us. The Highley House is more of a traditional setup with private apartments, but it feels elevated. You’ve got condo-level finishes, resort-style amenities, and a real sense of quality.
Having both ends of the spectrum has helped us reach a wider range of renters and build a brand that responds to how people actually want to live today.
The Highley and i5 Wynwood are seeing strong leasing. Tell me more about these developments and what’s fueling the demand.
We saw an opportunity to create two very distinct offerings for two fast-growing segments of renters.
Robin Hill
The Highley House in Miami
The Highley was designed for those seeking elevated, artful living in a neighborhood that thrives on creativity. We partnered with top artists and designers to create a property that feels like a boutique hotel but is built for everyday life.The amenity package is one of the most creative we’ve delivered to date—including a podcast studio, meditation room, steam and sauna, golf simulator, cold plunge, massage room, and a private dining room, all within the building. The result? The project averaged over 40 leases per month until it reached 80% occupancy—nearly three times the standard pace of other multfamily projects—which makes it one of the fastest lease-ups we’ve had in years. The response continues to be overwhelmingly positive, especially among young professionals and design-savvy renters.
Robin Hill
i5 Wynwood in Miami
i5 Wynwood, on the other hand, fills a major gap in the market. It offers furnished co-living and traditional apartments at a more attainable price point, without compromising on style or location. All-in, i5 units are roughly 40% more affordable than a traditional studio in the same submarket, once you factor in furniture, utilities, and flexibility. This combination of elements was a first for us, but the strong positive response has shown us there is significant demand for this type of more accessible, flexible urban residence.
In a high-demand neighborhood like Wynwood, this kind of flexibility is essential. Both projects reflect the energy and diversity of the area, and the leasing performance tells us the market was hungry for both ends of the spectrum.
Is i5 Wynwood Related Group’s first co-living development? What lessons have you learned from this project and how can it serve as a model for urban development nationwide?
Yes, i5 Wynwood is our first official co-living venture, and it’s been an important case study for us. Renters—especially younger ones—aren’t necessarily looking for more space, but they are looking for more value. They want the ability to live in great neighborhoods like Wynwood, be part of a community, and move in with minimal hassle.
Robin Hill
i5 Wynwood in Miami
We leaned into that insight with i5 Wynwood: furnished units, curated common areas, and a lease structure that accommodates changing lifestyles—all available at roughly 40% less than traditional studio rents in the area, with minimal compromise.
It’s proven that co-living can work—not just as a niche, but as a scalable urban solution. We’re now actively exploring if there are opportunities to replicate the model in other high-demand, high-cost neighborhoods across the country.
What other insights from these two developments are helping to shape Related Group’s strategy going forward?
It’s not so much about discovering something new as it is about validating what we’ve always believed.
A great location is important, but it’s not enough on its own. You have to create a project that feels true to the place, that meets the needs of the people you’re building for, and that introduces a lifestyle they didn’t even know they were missing. That mindset shapes everything we do, whether we’re developing a luxury condo, a mixed-income community, or a market-rate rental.
What’s the hottest amenity trend today for Related Group developments?
As neighborhoods like Wynwood have flourished, the demand for high-end, amenity-driven spaces has only intensified. Today, people are seeking more than just a place to live; they want a home that seamlessly blends work, relaxation, and entertainment.
You’re absolutely right. The amenities arms race is something we’ve been leading for nearly 50 years. We continue to see strong returns from pushing even further into lifestyle-driven programming.
At The Highley House, for example, we introduced a new tier of creative amenities that go well beyond the basic —golf simulators, podcast studios, meditation spaces, cold plunge, massage rooms, and more. Its state-of-the-art gym rivals any high-end fitness club, and its rooftop pool wouldn’t feel out of place at a boutique hotel in New York or London. These are the kinds of offerings that drive resident retention and support higher rents. People want more than just functionality; they want spaces that inspire. We’re constantly thinking about what’s next and how we can create moments that truly surprise and delight.
Robin Hill
The Highley House in Miami
In parallel, we’re continuing to elevate the traditional must-haves (i.e., pool decks, fitness centers, lounges, etc.) to match or exceed luxury hospitality standards. It’s all about creating value through differentiation.
What is in Related Group’s pipeline for the next 12 to 18 months? Any new markets?
Over the next year, Related Group is advancing a robust pipeline of developments across Florida, with a particular focus on Miami-Dade, Broward, Palm Beach, and Hillsborough counties. In Fort Lauderdale, the firm is moving forward with the $2 billion transformation of Bahia Mar into a world-class mixed-use destination. In Pompano Beach, sales are underway for both the Waldorf Astoria Residences and the W Hotel & Residences—two luxury oceanfront projects redefining the city’s skyline. In West Palm Beach, sales are also going strong for the Ritz-Carlton Residences, while Tampa continues to emerge as a key growth market with several projects in development. At the same time, Related is expanding its international footprint, with several branded residential projects underway across Mexico and Brazil.
In parallel, Related is expanding its affordable housing portfolio throughout South Florida. The firm recently completed more than 31 affordable and workforce housing projects in partnership with Miami-Dade County and remains committed to delivering quality housing across all income levels.
How do you balance luxury and affordable development in your portfolio, and what does success look like in both segments?
We approach luxury and affordable development as equally essential, though very different, parts of our portfolio.
To meet demand across all demographics, we operate distinct divisions focused on each segment—including affordable housing, market-rate rentals, luxury condos, and international projects.
Right now, we’re actively developing over 12,000 affordable units and a similar number of market-rate rentals, ensuring we’re addressing both accessibility and growth in high-demand areas. On the luxury side, we have roughly 7,000 condo and mixed-use units in the pipeline, representing the most value-intensive portion of our portfolio, and we’re also expanding internationally with over 1,000 units abroad.
Success in each category looks different. For affordable, it’s about long-term community impact and access; for luxury, it’s about delivering distinctive, experience-driven living at the highest level. Both are core to our strategy and long-term vision.
