URBIN, our co-live / co-work project was highlighted in The Real Deal article titled Co-living venture Urbin expanding to Miami Beach By Katherine Kallergis.
From the article: Developer Rishi Kapoor is betting on co-living, starting with three projects in Miami-Dade.
Kapoor, CEO of Location Ventures, is moving forward with a $50 million co-living project at 1234 to 1260 Washington Avenue, now that the Miami Beach City Commission passed co-living legislation for a portion of Washington Avenue from Sixth to 16th streets.
URBIN, a co-living, co-working, and wellness real estate platform led by Kapoor, has three Miami-Dade sites in the works, and Kapoor hopes to expand to 100 locations within the next decade, he said.
URBIN is backed by investors David Martin of Terra; Rudy Touzet of Banyan Street Capital; the Murphy family of Coastal Construction; former New York Jets and New Orleans Saints linebacker Jonathan Vilma; Gabriel Navarro, Marcel Navarro and Martin Pico of MMG Equity Partners; Marty Halpern of UnitedTranzactions; and Daniel Motha, Luis Estrada, Carlos Lopez and Vivian Bonet of Location Ventures.
Location Ventures is under contract to purchase the Washinton Avenue assemblage, said Kapoor, who declined to disclose the price. He expects to close next summer, pending approvals from the historic preservation and planning boards. Attorney Michael Larkin is representing the developer
The Miami Beach development would involve the renovation of an existing three-story office building into a co-working center and ground-up construction of a new hotel and co-living building with 125 bedrooms, as well as a public shade plaza. T he new building will be about six stories tall, with a rooftop and up to 3,000 square feet of retail space, 70 co-living units and 55 extended-stay hotel rooms
Read More From The Real Deal Article Here
