Miami-based philanthropist and art collector Jorge M. Pérez’s family foundation has established a new grant program that will award $1 million annually to arts organizations across Miami-Dade County. Developed in partnership with the Miami Foundation, the CreARTE Grants Program will fund artist fellowships and residencies, back educational initiatives, and help increase access to creative spaces. The announcement coincides with the fortieth anniversary of Pérez’s company the Related Group.

“As Related enters its fortieth year, I feel even more compelled to give back,” Pérez told the Miami Herald. “From a very early age, my mother ingrained in me a love and passion for the arts. She’d take me to the best museums in Colombia, Argentina, and Cuba and I witnessed, first hand, the life-changing power of visual art. This experience laid the foundation for my life-long passion, and now, I seek to foster the same experience for my family as well as the broader community.”

The Argentinian-born real estate developer’s parents were Cuban and raised him in Bogotá before relocating to Miami in 1968. Pérez has often made headlines with his charitable activities. In December 2011, he donated $35 million to the Miami Art Museum in support of the construction of its new Herzog & de Meuron–designed building, which was renamed in his honor. Earlier this year, Pérez also donated $1.5 million to the Museo Nacional Centro de Arte Reina Sofía in Madrid and launched the $50,000 Jorge M. and Darlene Pérez Prize. The Pérez Art Museum Miami selected Los Angeles–based artist Christina Quarles as the inaugural recipient in March.