At Day One of Zonda's Elevate Miami 2025, economists, designers, and dealmakers confront a market defined by volatility, reinvention, and the race to design meaning—not just towers.
When the doors opened yesterday at the Kimpton EPIC Hotel in Miami, the tone was set. Developers, architects, brokers, and designers—many of them among the most influential in luxury real estate—converged to begin three days of conversations about the future of high-rise living. Day One made clear that the industry sits at a crossroads: buoyed by demand yet pressured by economic volatility, shifting buyer psychology, and rapidly rising expectations for meaning-driven design.
The “New Development’s New Playbook” panel delivered a frank and fast-moving examination of how sales and marketing teams are adapting to a dramatically changed luxury-residential landscape. Moderated by FirstService Residential’s Marc Kotler—whose team has “opened over 200 new high-rise buildings”—the conversation traced how buyer psychology, global migration, and escalating expectations for craftsmanship are reshaping what it now takes to sell.
Jay Parker of Douglas Elliman noted that ultra-high-net-worth buyers are driving demand in search of stability and lifestyle: “There’s no doubt we’re seeing a tremendous amount of super-prime product moving—people want a piece of South Florida.” Andrew Wachtfogel of Redeavor added that mobility is redefining market behavior: “People aren’t leaving New York—they’re adding Florida.” Peggy Olin of OneWorld highlighted Miami’s global magnetism: “Everybody wants to participate in this energy—people all over the planet want a piece of South Florida.”
To win these buyers, panelists stressed, teams must understand product more deeply than ever—from macro programming down to door swings and custom-level detailing. As Wachtfogel put it, “You’re asking people who custom-build their homes to buy off paper—you must design perfectly from day one.” Parker agreed, noting that expectations for finish quality have skyrocketed: “Buyers now expect the level of finish they see in London or New York—developers can’t cut corners anymore.”
Branding remains essential but must be wielded strategically. Hospitality partners like Ritz-Carlton or Four Seasons provide instant trust, but, as Olin cautioned, “A brand adds 25% to cost—you must know when the market will actually pay for it.”
Together, the panelists argued that the new playbook is part research, part design rigor, and part cultural translation. Narrative, finish, and lived experience—not simply marketing—now determine whether a project resonates in a fast-moving, expectation-heavy market.
