Co-living company Urbin recently got approval from Miami Beach’s historical preservation board for a new six-story co-living, co-working and hotel concept off of Washington Avenue.
In total, the project will contain 49 co-living units, 56 hotel rooms, retail space, and restaurant space. Urbin will also renovate a four-story building next door to provide a co-working space and 5,000 square foot wellness center for residents and hotel guests.
If everything goes according to plan, the project should begin construction in the second or third quarter of 2021.
Development Focused on Affordably-Priced Living
Urbin has pitched the project as an affordable option for locals who would otherwise be priced out of the area. This helps fulfill the company’s mission of providing “affordability, mobility and sustainability” to people living in urban areas.
Co-living units range from 2 to 6 bedrooms with each room having a private bath, and the unit having a shared kitchen, living spaces, and laundry spaces. Micro-units are also available, with their own private amenities. Hotel guests and residents will have dedicated outdoor spaces to allow residents to enjoy the beautiful Miami beach weather.
The project will also include a rooftop pool and bar for both residents and hotel guests.
The project focuses on the wellness of residents and the community. The co-working building will contain space for micro-retail offerings, allowing locally-owned and operated boutiques to set up in an area that would otherwise be too expensive. Urbin also said that there would be a business incubator, technology incubator, and artist studio spaces avaiable to residents.
Approval from the board was unanimous, as project planners worked closely with the local community to make sure the project fit the needs of the community and did not intrude on existing residents with additional noise or traffic.
Urbin Feels Strong in the Face of Covid-19
Some might think that opening a new development while the world reels from the economic fallout brought on by the coronavirus might be a bad idea, but Urbin founder and CEO Rishi Kapoor sees their company differently.
Often, Urbin properties are the most affordable in otherwise very affluent and unattainable areas. This, coupled with the inherent flexibility of the co-living model, makes their properties very attractive to residents.
“We feel like we’re very well positioned for different types of economic cycles and different types of the market and ways they need to respond,” he said.
photo credit: urbin