Jorge (left), Nick (top right) and J.P. Pérez.
Jorge, Nick and J.P. Pérez
Founding executive chairman; president of condominium division; president and CEO at Related Group
Related Group — run by Jorge Pérez and his sons Jon Paul and Nicholas — has kept up its bullish approach to building new housing.
In 2024, Related Urban, the firm’s affordable arm, completed nearly 3,000 units of affordable and workforce housing in Florida, and it has a current pipeline of about 10,000 additional units, according to J.P. Pérez.
The developer also broke ground on a number of luxury condo developments last year, including its 70-unit Rosewood Residences in Hillsboro Beach, its 56-unit Rivage in Bal Harbour, its 50-unit Residences at Six Fisher Island, and its 152-unit St. Regis Residences in Miami, for which Related secured $527 million to build in September.
“We believe that good branding really differentiates one project from another project,” J.P. said. “We spent a lot of time brainstorming a brand that allows people to understand and visualize what it will feel like living in our projects.”
Related has also launched sales for its St. Regis Bahia Mar development in Fort Lauderdale, which is being developed alongside Rok Enterprises and Tate Capital. The 40-acre site includes a 256-key St. Regis-branded hotel and 410-unit residential towers. Plus, Related recently purchased 8 acres of waterfront land in Aventura, where it’s planning a luxury wellness development centered around lifestyle, fitness and the arts, J.P. said.
When it comes to who’s buying luxury condos in South Florida, J.P. said it’s roughly evenly split between international buyers coming from places such as Mexico, Brazil, Colombia and Argentina and domestic buyers coming from the Northeast and the West Coast.
Related isn’t just making moves in the U.S. In Mexico, the developer completed its fourth building in Cancun and launched sales for its Thompson Puerto Vallarta development, which includes 130 condos and 85 hotel suites.
As for the upcoming year, J.P. said Related is looking to complete an approval process for a “high-end luxury residential development” on its 5-acre plot in North Bay Village. That project is set to feature a wide range of amenities, including pickleball.
“After COVID-19, people really think about living their life and wanting to experience good things,” J.P. said. “So that goes into a lot of the thought process when we’re developing and planning our projects.”
