Business is booming for the Related Group and they’re showing no signs of slowing down. Carlos Rosso, President of Condominium Development for The Related Group takes us through Miami’s real estate market and the astonishing 17 projects they have in the works.
The biggest is Paraiso Bay, a zen-like complex in Edgewater where the first of four towers is already 80% sold out and slated to break ground soon. The project takes advantage of a long-neglected stretch of bayfront property that, until recently, was surprisingly vacant. To give customers a taste of what awaits them, Related has created a wood-laden sales center, with an earthy-yet-modern atmosphere hard on the sparkling Biscayne Bay. Set back 20 feet from the water’s edge, Paraiso Bay will incorporate ample green space, a much-needed concept in Miami. Paraiso Bay is more about creating a neighborhood than simply just another development. It is set to completely transform the entire area.
“It’s not like we are a home builder, where all of our homes look the same,” says Carlos Rosso. “All of our buildings are different from each other, and we love that because we are mostly competing against ourselves.”
With a beautifully tasteful design by Keith Hobbs of United Designers, Related takes advantage of Paraiso’s wonderful location. With the bay on one side, midtown on another and wonderful views of downtown, the panorama is sure to be spectacular. The view isn’t the only thing that seem to go on forever. Paraiso’s units are much larger than most, attracting families and those looking to enjoy the open space Edgewater has to offer. The expansive $3 million penthouse is destined to be the property’s crowning glory. The first tower is nearly sold out, with international buyers traveling from around the world to put down hefty deposits to prove they are serious.
“I think people are looking at Miami and saying, ‘this is an incredible place.’ In the last 10 years, Miami has sophisticated itself and become more of an international city. Art Basel has attracted a lot of people who wouldn’t have come to Miami before,” explains Rosso. “Now they fly in with their G5s, and see the landscape and the bay with its little islands. Once they are here they experience the beautiful beaches and the great weather and they see that it’s one of the most incredible cities in the US and they want to be part of it.” It’s all, as they say, in the approach.