As Miami's real estate market continues to evolve, the demand for flexible ownership is fueling a new wave of luxury developments. The city has become a top destination for part-time residents and travelers, attracting people with its warm climate, vibrant cultural scene, economic growth, and global connectivity. For many, Miami serves as a winter retreat, an Art Basel destination, or a weekend getaway, rather than a year-round residence. Modern real estate investors increasingly value experience and flexible ownership, particularly in the thriving short-term rental market.
From international to domestic buyers, there’s a shared need for adaptable ownership, especially in Miami’s booming short-term rental sector. With short-term rental and luxury residence options growing in Midtown and Wynwood, The Rider emerges as the newest addition, offering owners the opportunity to engage in dual-use ownership, blending short-term rental options with personal living. This trend comes as demand for flexible ownership continues to rise.
The Rider, a joint venture between Miami-based Rilea Group and Cipres, led by President Diego Ojeda, represents the first truly flexible luxury residences in the Midtown and Wynwood area. Situated at the southern edge of the vibrant Midtown neighborhood and the eastern side of Wynwood’s art district, The Rider offers an ideal location at the center of Miami’s cultural heartbeat.
The Rider will feature turn-key luxury condominiums, cutting-edge amenities, and attractive income-generating opportunities. The development will honor Hollywood icons from the music and film industries with a curated collection of 1970s-era photography from Morrison Hotel Gallery and Iconic Images, alongside art by Marco Grassi in the common areas. Each residence will offer open living spaces, gourmet kitchens with Italian Bertazonni appliances, Dekton by Cosentino countertops, spa-inspired bathrooms with Porcelanosa fixtures, smart home technology with keyless entry, glass balconies, and impact windows. On-site amenities will include a rooftop pool, a state-of-the-art wellness center with fitness equipment, infrared saunas, cold plunges, and a hammam. Residents can also enjoy an acoustically optimized hi-fi listening room, a toy box with Harley Davidson motorcycles, Vespas, and e-bikes for rent, as well as a café, restaurant, and even a speakeasy—defining the Miami lifestyle.
Short-term rentals have surged in South Florida, especially between 2021 and 2022, when 58.9 million overnight visitors spent $13.8 billion on vacation rentals in Florida, according to Oxford Economics. Miami’s average daily rental rates are among the highest in the U.S., with the short-term rental market expected to grow further.
As the demand for short-term rentals in Miami soars, The Rider is ideally positioned to capitalize on this trend. Owners can choose full- or part-time living while renting their fully furnished residences on platforms like Airbnb, VRBO, and Booking.com, or use The Rider’s in-house rental management service. This dual-use potential offers an opulent living experience and opens up lucrative income opportunities.
Today’s buyers seek residences that can adapt to their dynamic lifestyles, offering top-tier luxury living and the freedom to rent without restrictions or blackout dates. The Rider Residences embodies Miami's unique, vibrant energy while offering owners more freedom and enjoyment.
Several economic factors add to the area’s appeal, including the upcoming Brightline station and the presence of a Whole Foods market, signaling an increase in desirability and property values. Miami’s calendar of major events creates ongoing demand for luxury rentals, while high-income earners relocating from other states further drive demand for upscale living. The continued expansion of Midtown, Wynwood, The Design District, and Edgewater, all just a short walk from The Rider, enhances the area’s attraction.
As the demand for short-term rental properties in Miami continues to rise, developments like The Rider Residences provide an ideal mix of luxury and convenience, offering buyers and investors limitless opportunities for flexibility and freedom that align with their dynamic lifestyles.
