Location Ventures and URBIN Combine Live, Work and Wellness Space

By Published On: May 26, 20225.2 min read

The pandemic has changed the way people work and live, and commercial real estate is adapting to meet these new needs.

As a coworking, residential and wellness building, URBIN is a new community designed to meet the ever-changing needs of professionals in a post-pandemic world. URBIN is a project backed by the Miami-based developer, Location Ventures, and two condominiums in South Florida will break ground by the end of the year.

URBIN Miami Beach Aerial

URBIN Miami Beach Aerial | Image provided by URBIN

For Rishi Kapoor, Founder and CEO of Location Ventures, solving the most pressing real estate challenges of today means providing affordability, mobility and sustainability. “The goal [for URBIN] is to be in the most in-demand submarkets, inside of cities, where many people are priced out. Our objective is to offer accessible price points for people to live, work and seek wellness,” Kapoor told Leverage.com.

URBIN Coconut Grove Cowork

URBIN Coconut Grove Cowork | Image provided by URBIN

The two locations, URBIN Coconut Grove and URBIN Miami Beach, will have residential units, a full-service coworking space, wellness centers and retail, all under one roof right in the heart of Miami. Location Ventures acquired the 33,488-square-foot property for URBIN Miami Beach in May, 2021, and the first part of URBIN Coconut Grove in 2018.

The list of what URBIN offers is extensive but falls under three main categories: live, work and wellness.

URBIN Miami Beach East

URBIN Miami Beach East | Image provided by URBIN

First, there are the resident spaces. URBIN Miami Beach will have 69 residential units, with studios starting from 275 square feet to two- to four-bedrooms up to 1,334 square feet with views of the city or ocean. URBIN Coconut Grove features 54 residential units and studios starting from 335 square feet to five bedrooms up to 2,033 square feet with views of the cityscape.

URBIN Coconut Grove Residential

URBIN Coconut Grove Residential | Image provided by URBIN

Rental units will start at $1,000 per month for a minimum of three months — an affordable rate for the location.

While a 275-square foot apartment is definitely small, this is what makes it possible for URBIN to offer such competitive prices for people who want to live in the city center.

URBIN Miami Beach Washington Avenue

URBIN Miami Beach Washington Avenue | Image provided by URBIN

“You might be getting smaller unit sizes, but that’s the trade-off. You’re getting a lower price of admission to a great neighborhood where they want to spend more time in the community and outside of the four corners of their bedroom or unit,” Kapoor said. “I think there’s a big demand for people that want space beyond just their bedroom, and the goal for us, on the live side, is to put people in the heart of these neighborhoods.”

URBIN Coconut Grove Living Room

URBIN Coconut Grove Living Room | Image provided by URBIN

All the units will be fully furnished. Meyer Davis, a multi-disciplinary design studio from New York City, provided interior design for the Miami Beach location. Design and branding firm AM Studio, also based in NYC, took on the Coconut Grove location. Inside the units, residents will have access to high-end amenities like smart lock entry, HDTV for cable and streaming, laundry in all units, individual climate control, free WiFi and high-quality duvets and linens, in addition to the option of room service.

URBIN Coconut Grove Bedroom

URBIN Coconut Grove Bedroom | Image provided by URBIN

Next-Level Coworking Space for URBIN Residents and the Miami Community

Post-pandemic it’s becoming more common for developers to incorporate coworking spaces within multifamily buildings for their residents. However, what sets URBIN apart is that the coworking facilities — which start at $350 per month for an access membership — will be available to the community at large, rather than restricted to URBIN residents.

An additional benefit is that the coworking space will be set up more like a traditional coworking space instead of just an open room for people to work on their laptops. There will be private offices, phone booths, flexible office arrangements, coffee and a juice kitchen and advanced tech meetings and presentation rooms. In short, URBIN will have full-service amenities to accommodate remote workers.

URBIN Miami Beach Rooftop

URBIN Miami Beach Rooftop | Image provided by URBIN

Spending a day in URBIN’s coworking space might mean working in the sun on one of the terraces and balconies. Kapoor explained that the vision is to create spaces for people to inhabit that extend beyond the four corners of their office on the worksite. “We’re really focusing on outdoor amenities, so large terraces, outdoor conference rooms, rooftop restaurants, meeting spaces, bars, ground-level terraces and restaurants on pavilions,” Kapoor said.

Members will also have access to some of the extensive amenities available to residents, like the gym, spa, storage and communal areas alongside opt-in services such as meal service, housekeeping and personal training.

URBIN Coconut Grove Bathroom

URBIN Coconut Grove Bathroom | Image provided by URBIN

URBIN as a CRE investment

URBIN units are available for both renters and investors. Renters will be able to stay for a minimum of three months, a time frame that caters to digital nomads or people who want to explore Miami with everything they need already set up for them.

The cost for units in both URBIN locations ranges from $400,000 to $2.4 million. Residences are then managed through a lease-back program.

URBIN has ambitious sustainability goals and will aim to “adhere to sustainability standards that include renewable energy and water capture, treatment and reuse on every site.” Looking forward, URBIN hopes to achieve energy and water independence “to offset carbon impact and showcase how developments can still be environmentally responsible.”

In the future, URBIN plans to expand beyond Miami, creating many more locations for these live-and-work hubs. “The brand’s vision is to have 100 locations open worldwide in the next 10 years, providing members an unparalleled mobile network that allows them to live and work across South Florida and eventually, across the globe,” the company said in a statement.

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