Speaker Spotlight: Gevorg Shahbazyan of Starlife Group
Gevorg Shahbazyan, founder & CEO of Starlife Group, joined Commercial Observer’s South Florida Capital & Development Forum to discuss vertical integration, residential innovation, future-proofing portfolios, and delivering community value in South Florida real estate.
Commercial Observer: Starlife Group is a fully vertically integrated development firm. How has the firm’s involvement across the full life cycle of a development, from concept to completion, allowed you to scale and deliver a new standard of excellence in development?
Gevorg Shahbazyan: Real estate development involves hundreds of interconnected decisions, and the quality of the finished product depends on how well those decisions remain aligned from the earliest concept through construction and operations. We built Starlife Group as a vertically integrated development company because we wanted each discipline to understand the same vision and work toward the same standard.
Having development, construction, lending, capital, brokerage, insurance and management under one umbrella gives us greater visibility and accountability throughout the entire life cycle of a project. Our teams communicate directly, identify challenges earlier and make informed decisions faster rather than waiting until an issue reaches the field. That allows us to protect the original intent of a project while maintaining greater control over quality, timing and long-term value.
We saw the strength of that model at 21 Hollywood, where our in-house construction arm, Starlife Builders, brought the 14-story building to full structural height, completing shell in just seven months after vertical construction began. That speed came from extensive planning and close coordination between the teams responsible for the vision and those executing it.
As we scale, vertical integration gives us the infrastructure to grow without sacrificing precision. The goal has never been simply to complete more buildings, but to build an organization capable of creating, financing, delivering and operating meaningful projects at scale.
The residential and multifamily sectors have become increasingly innovative when you look at property designs, marketing and overall resident offerings. What are the most important points to distinguishing properties and portfolios in today’s market?
Residents have become much more sophisticated in what they expect from their homes. In a market as competitive as South Florida, residents are looking for the complete package: best-in-class amenities, high-quality appliances and finishes, functional spaces designed around how they live, work and spend their time, and a location that complements their lifestyle. Differentiation comes from bringing all of those elements together rather than relying on one or two to define a property.
That is how we approached 21 Hollywood and all our other projects. The residences incorporate condominium-quality elements, including Bosch appliances, Italian cabinetry, quartz countertops and curated tile finishes, while the building’s amenity program supports wellness, productivity and connection through coworking areas, a fitness center, a yoga and Pilates studio, a cinema, a rooftop pickleball court, a pool deck, and spaces for children and pets. Just as importantly, its location along Federal Highway connects residents to an evolving mixed-use corridor in the heart of Hollywood.
The important distinction is that those offerings cannot exist in isolation. We think about how residents move through a building, how amenities relate to one another and how the property connects to the surrounding neighborhood. Hospitality is also increasingly important because it teaches us to anticipate needs instead of simply responding to them. That philosophy is informing Amara Hospitality, our new hospitality and property management arm, and will continue to shape how we think about service and the overall experience across our portfolio.
Ultimately, the properties that distinguish themselves will be those where design, functionality, service and location come together to make daily life better. The initial impression matters, but lasting quality is about whether a property continues to improve the resident experience long after move-in. That is the level of consideration we aim to bring to every Starlife project, regardless of asset type or location.
With trends constantly shifting, and a market that is always pressing the boundaries of what is possible, how do you stay ahead of the market to “future proof” your portfolio?
Future-proofing is less about chasing every new trend and more about understanding which changes reflect how people will actually want to live over the long term. We pay close attention to shifts in lifestyle, mobility, wellness, technology and the way people use their homes, but we evaluate those changes against the fundamentals of a market and the needs of the community.
That starts before we acquire or design a project. We look for locations with strong connectivity, infrastructure and room for growth. Hollywood is a good example. We saw an established city with proximity to major employment centers, the beach and regional transportation, but also corridors like Federal Highway that could accommodate additional housing and mixed-use activity. That long-term conviction in Hollywood extends beyond 21 Hollywood, with several additional projects in our pipeline that will continue to expand Starlife’s presence in the city.
Within our developments, we focus on creating adaptable experiences. Residents may use spaces differently as lifestyles evolve, so amenities and common areas need to support work, wellness, social connection and everyday convenience in ways that can remain relevant.
Our vertically integrated structure also gives us an advantage because lessons can move quickly across development, construction and operations. Staying ahead of the market requires listening, learning from what we build and being disciplined enough to distinguish lasting changes in how people live from trends that may disappear just as quickly.
Miami and cities across South Florida are rooted in arts, culture and lifestyle. How do you weave these fundamental characteristics into your developments? How are you using real estate to deliver value to the cities and communities that you’re developing in?
A development should respond to its location rather than impose the same formula everywhere. In South Florida, real estate is inherently connected to how people live. Climate, outdoor living, hospitality, wellness, connectivity and the cultural character of individual neighborhoods all influence how we approach a project. At 21 Hollywood, that extends into the art and interiors, with pop art and comic-inspired artwork woven throughout the property to bring a bold, creative energy to the resident experience.
But contributing to a community also means thinking beyond the building itself. At 21 Hollywood, we saw an opportunity to add 200 residences and approximately 10,000 square feet of ground-floor retail while contributing to a more active, pedestrian-oriented Federal Highway corridor. Bringing residents and businesses to the area helps activate the street level and support the neighborhood’s broader evolution.
As developers, we have a responsibility to understand the communities where we build. Growth should strengthen existing character, support local businesses and institutions, improve the public realm and create a more connected daily experience. With more than 25,000 residential units currently in Hollywood’s development pipeline, we see the level of investment taking place across the city as validation
Source: commercialobserver.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.