Developer Related Urban completed one of the largest mixed-income affordable housing projects, with 465 residences opening at Magnus Brickell in an expensive part of downtown Miami.
The 29-story Magnus Brickell comes with a collection of studios to three-bedroom units at 201 SW 10th St. Construction at the site, formerly occupied by an aging 96-unit senior housing complex, started in late 2022 before opening in February 2025.
Built in collaboration with Miami-Dade County, the city of Miami and Miami-Dade County Public Schools, the tower sits within walking distance of schools, the city’s rapid transit system, parks and major employers. As part of the development, Related Urban set aside land for an expansion of the nearby Southside Preparatory K-8 School.
“We designed Magnus Brickell as a replicable model for other high-cost cities facing the same housing crisis,” said Alberto Milo Jr., principal and senior vice president of Related Urban. “It shows that deeply affordable housing and world-class living don’t have to be mutually exclusive," he added.
Related Urban is the affordable housing arm of Miami’s Related Group, one of the state's most-active developers.
For the size of the project, its community impact and affordable housing options in one of the most expensive submarkets in the country, Magnus Brickell won a 2026 CoStar Impact Award for South Florida, as selected by an independent panel of local industry professionals familiar with the market.
About the project: Related Urban Development Group completed a 465-unit, 29-story mixed-income apartment complex in Miami’s Brickell financial district. The project cost an estimated $190 million, with CMA Architects leading the design.
What the judge said: "The combination of affordable living and market-rate product is a balance which only a few developers can do successfully," said Roberty Eckstein, partner at NAI Miami-Fort Lauderdale.
They made it happen: Related Urban Development Group President Albert Milo Jr., and Alberto Parjus, senior development manager and Affordable Development Partner-Southeast.
This article was updated on March 25 to include Alberto Parjus under They made it happen and to update the titles.