Roy Faith, Senior Vice President, The Faith Group

In an interview with Invest:, Roy Faith, senior vice president of The Faith Group, offered a measured yet optimistic view of South Florida’s commercial real estate market, drawing on more than two decades of experience in the region. “Florida is a pro-business state, and you’re seeing an influx of investors and private capital coming here because they believe they can generate better returns, as well as long-term value appreciation,” Faith said.

How would you describe the landscape for commercial real estate in South Florida?

The landscape has changed dramatically since I arrived from London 24 years ago. The sheer volume of people, the infrastructure expansion, and the amount of multifamily, office, and retail development that have taken place have been real advantages for South Florida, from Miami-Dade through Broward and into Palm Beach. The commercial sector has grown exponentially. That said, I still think there’s a long way to go in the grand scheme of things. Considering how fast things have moved in the past five to 10 years, the growth has been significant, and I believe that trajectory continues.

How are investors evaluating opportunities as pricing, demand, and operating costs continue to shift?

Investments have changed over the course of the years. With more people coming here, opportunities don’t just present themselves the way they once did. You have to find them. That said, compared to what investors are seeing internationally or even domestically, I still feel there is more opportunity here to generate better returns and stronger long-term plays. Within certain states, you have rent controls and other restrictions. Florida is a pro-business state, and you’re seeing an influx of investors and private capital coming here because they believe they can generate better returns, as well as long-term value appreciation.

What are you seeing in terms of demand across the retail, office, and medical spaces?

Our company caters to all different asset classes: multifamily, office buildings, specialty medical office, and retail. Within the medical office environment specifically, it’s a stable asset class that will always be in demand. A medical office is always somewhere people need to go in person, even during times like COVID. That remains a strong long-term play.

Within retail, the key is location, and we’re seeing experiential and lifestyle concepts driving traffic. Fitness tenants such as gyms, yoga studios, hair salons, and restaurants, whether they are fast casual or well-known concepts,  have become the driving force, especially here in South Florida, where the climate allows you to enjoy the outdoor environment year-round.

Since COVID, when restaurants up north were shutting down and operators were relocating to Florida because of the business environment here, we’ve seen an explosion of new dining concepts that are sticking. It’s also catering to the new residents arriving from around the world. Miami has become a true cosmopolitan, 24/7, 365 city. Twenty years ago, summer was the slow season. That’s simply no longer the case.

We’re also heavily involved in a large property called Soho Studios in Wynwood, where we’ve been for over 12 years. Wynwood is a small neighborhood, but it’s one of many distinct pockets within Greater Miami, alongside Brickell, Midtown, the Design District, and Edgewater. Each area having its own personality, and 20 years ago, you wouldn’t have imagined a neighborhood like Wynwood existing. It’s exciting to see these areas come into their own and to be part of the evolution.

What opportunities are you seeing at the intersection of real estate and technology?

We entered the development sector about five or six years ago, focusing on building multifamily apartments. We have a project in Naranja, near Homestead — a 270-unit development with capacity for an additional 400 units — that started with a new construction methodology leaning heavily into technology.

Specifically, we used pre-built units, which cuts down on time, cost, and labor while still delivering a quality product, often better than traditional methods. I think that approach will play an increasingly important role in the development sector. With all the AI tools and evolving construction methodologies, if you can lean into the technological world, it can only be a benefit. It does take time to ensure full compliance with county regulations, but the efficiencies are real and meaningful.

What are the key challenges facing the industry, and how are you navigating them?

Infrastructure is the primary challenge. With the volume of people moving here, the city is working to catch up. Miami is a car-dependent city — there’s no underground rail system comparable to London or New York — so traffic and mobility are real constraints on continued growth. You see bridges being built throughout the region right now precisely because more connectivity is needed. Without continued infrastructure investment, gridlock becomes a serious limitation.

From a strategy standpoint, we’re focused on patience and positioning. We have assets that are currently cash flowing, with no immediate need to develop. If you’re in a well-located property with a building that’s producing cash flow, you can land bank and wait. Ultimately, it’s better to go vertical — eight or 10 stories or even higher zoning permitted — than to sit on a two-story office building forever. But that decision should come when the timing is right. The key is being able to weather the timeframe and then move decisively when the opportunity presents itself.

What are The Faith Group’s top priorities for the next three to five years?

As a family-run organization, our focus is on planting the seeds now so we’re ready for the next wave of development. We have a property in Aventura where we’re beginning the entitling process. That alone will take 12 to 15 months. Once we have permits, we can assess whether the timing is right to move forward. In Wynwood, we have a significant property where we’re seeing beautiful eight- and 12-story residential and hospitality projects being delivered around us. Whether it’s three, five, or seven years from now, that land will continue to appreciate as the market matures, and we’ll be positioned to act. We don’t need to rush.

Beyond development, we’re pursuing mixed-use opportunities that connect real estate with the sporting world. We have a project slated in Miami Gardens near the Hard Rock Arena that we envision integrating residential, hospitality, retail, and sports-driven programming. With Formula 1, the Miami Open, and the FIFA World Cup all driving global attention to Miami, we see a real opportunity to attract investors who want exposure to both sports and real estate. Marrying those two worlds is something we’re deeply passionate about, and we believe Miami is the ideal city to make it happen.

We are also community-driven. We like to be involved in every municipality where we operate, through charities and local engagement, and we want to continue building on the legacy our fathers and uncles created when they had the vision to come to Florida from London more than two decades ago. Their guidance put us in a position where, 20 years later, we’re fortunate to be thinking about what the next cycle looks like for our portfolio. That’s the foundation we’re building on, and we intend to keep the Faith name as reputable as it is today.