Wynwood Walls? More Condo, Apartment, Office, and Retail is Coming
Jul 15, 2020 July 15, 2020
From a desolate industrial district of empty warehouses to an eclectic neighborhood known for its colorful street art and cafés, Wynwood Miami has come a long way over the past decade. Since the creation of the Wynwood Walls in 2009, the neighborhood has become the latest hub for major art events, creative businesses, boutique shopping, dining, and nightlife in the city. So much so, it has turned into one of the most iconic and visited neighborhoods in Miami.
However, the transformation story of this vibrant, street art and mural district is far from complete. With new garnered attention and relaxation in zoning laws that allow for higher density developments to be built, more “Wynwood Walls” are on the horizon as the neighborhood is the new-found favorite of developers from across the country. From Diesel building its partly-furnished condos to an Arlo Hotel, plus brand-new office, apartment, and retail space, Wynwood is in phase 2.0 of its transformation story, where it will soon become the live-work-play destination of tomorrow.
121 NW 28th Street
Launching sales during Miami Art Week in December last year, Bel Invest grabbed headlines with its sensational marketing campaign claiming to sell the “most expensive T-shirts ever” as they included a free condo. Essentially, the one-of-a-kind T-shirts were intended for condo buyers and would have their floorplan printed across the front.
Designed by Zyscovich Architects, the 8-story building’s moodily colored façade, interiors and industrial-themed common areas come styled by Diesel Living (the denim brand’s home furnishing line). The partly furnished units are expected to feature Diesel coffee tables, sofas, and even lamps. The airy building will also be vying for a WELL certification by meeting thresholds for air and water quality.
The loft-style condo project sits on one acre of land with 129,000 sq. ft. of its space dedicated to residences, 22,000 sq. ft. to commercial facilities, and another 24,000 sq. ft. to ground-level retail. Residences will range from 395 sq. ft. studios to three-bedroom units, and two-floor penthouses. With amenities such as a pool, gym, spa, lounge, working area, conference room and kid’s room, the 143 luxury units come priced between $370,000 to $5.5 million.
With plans to break ground this fall, developers are currently accepting reservations for as little as $10,000 down.
Apartment and Mixed-Use
2828 N.W. First Avenue
Redesigned recently, this mixed-use project by the Related Group and Metro 1 intends to put two 12- and 8-story buildings on a 1.3-acre site in the neighborhood. Cutting out on all of its office space (part of the original plan), developers have worked in more multifamily space by bumping up the number of apartments to 248. The project will feature smaller units, under 550 sq. ft., in order to lower the overall rent. This comes on the heels of Related completing Wynwood 25, a luxury apartment building featuring studio through 3-bedroom apartments.
The mixed-use venture will also be home to 28,071 sq. ft. of commercial space, 372 parking spaces, a pool deck, outdoor amenity space, and about 5,000 sq. ft. of indoor amenities.
48-49 NW 29th Street and 63 NW 28th Street
Having recently secured a $44.88 million loan, the multifamily arm of Lennar Corp. is on its way to building its 11-story Wynwood Green apartment complex. The 1.11-acre site will house 189 apartments, 324 parking spaces, and 16,768 sq. ft. of commercial space, all adding up to a total of 323,057 sq. ft.
This former home to O Cinema and the Wynwood Yard will feature 50 studios, 90 one-bedroom, and 49 two-bedroom units, with some being micro-units. As parking occupies the first three stories, renters will find an amenity pool deck on the ninth floor inclusive of a club room, fitness room, yoga room, and business center.
125 and 127 NW 27th Street
With its approval from Miami’s Urban Development Review Board in place, Wynwood 28 is set to deliver new apartment, office, and retail space. The 230,131 sq. ft. mixed-use project by Block Capital Group and Kushner Companies will be home to five and eight story buildings with a total of 40 residential units.
The five-story building is designed with a rooftop pool and residences occupying the top four floors. The eight-story building will feature offices on the top three floors, with parking below. Additionally, Wynwood 28 will house 47,025 sq. ft. of office space, 15,880 sq. ft. commercial/retail space, 83 parking spaces,19 bicycle spots, and a paseo between the two buildings for pedestrians to walk from 27th Street to 28th Street.
East End Capital’s Two 12-story Towers
2400 and 2500 N. Miami Avenue
Developed by New York-based East End Capital, a proposal has been submitted to the city for a 525,000 sq. ft. mixed-use project. The northern side will feature a 12-story office building, while the southern side will feature 236 apartments, 30 of which will be co-living and a majority will be micro-units. The residential side will also be home to 12,528 sq. ft. of retail/commercial space, 7,497 sq. ft. of office space on the 6th floor, and a 5-story parking garage serving both buildings.
Designed by Kobi Karp, there will be a street art installation flowing vertically through the building and a pool deck as part of its amenity package.
Related Group’s Quarters-powered Co-living Project
51 NW 28th Street
The Related Group has partnered with W5 Group (family wealth office of Ralph Winter) to build a co-living project as they acquired a 20,700 sq. ft. site in Wynwood. With W5 bringing in 80% of the capital and Quarters running the co-living operation, the project is proposed to have 200 fully furnished units, 3,600 sq. ft. of ground-level retail, multiple common areas, a rooftop pool, fitness center, landscaped outdoor space, and coworking spaces.
Miami’s Arlo Hotel
2235 NW Miami Court
The group behind the Condé Nast-approved Nautilus Hotel in South Beach and Arlo SoHo in New York City is ready to bring a 217-key hotel to Wynwood. The proposed nine-story hotel is expected to break ground this November and deliver the brand’s signature ‘home away from home’ experience in this artsy neighborhood.
Gateway at Wynwood
2916 N. Miami Avenue
Designed by Kobi Karp, this Gateway Properties (affiliate of New York-based Rose & Berg Realty Group) development secured a $76 million loan recently. The 12-story building is set to feature 25,900 sq. ft. of street-level retail, an upper deck dedicated to parking, 220,000 sq. ft. of offices from the 6th to 12th floors, and a private rooftop amenity deck.
Designed to be environmentally responsible, Gateway broke ground this January and is aiming for a late 2021 completion.
Others in the Pipeline
Bel Invest’s Multi-Phase Project
Bel Invest is working on rolling out ‘Wynwood Quarter’, a six-phase project it has acquired multiple properties between Northwest 29th Street and Northwest 25th Street, from Northwest 2nd Avenue to the east side of Northwest 1st Avenue for. With its first phase, Diesel Wynwood on the road to breaking ground this year, the next five phases are expected to include:
- 160 NW 28th Street. 8-story building with 39 residential units, 4,975 sq. ft. of retail and 42 parking spaces
- 148 NW 28th Street. 8-story building with 7 large residential units, 1,707 sq. ft. of retail and 2 parking spaces
- 2721 NW 1st Avenue. 8-story building with 39 residential units, 5,573 sq. ft. of retail and 39 parking spaces
- 98 NW 27th Avenue. 5-story building with 72 hotel rooms and 5,445 sq. ft. of retail
- 8 and 5-story buildings with 48 residential units, 48 hotel rooms, 10,661 sq. ft. of retail and 95 parking spaces
L&L Holding & Carpe Real Estate Partners’ Mixed-use at Former Rubell Museum
Gathering 15 parcels of land between 29th Street and 1st Avenue, New York-based L&L Holding with Miami partner Carpe Real Estate is creating a 3-acre assemblage where the former Rubell Museum used to be. The co-developers expect to close on all the purchases by mid-2021 and construct a mixed-use project inclusive of a luxury residential building, Class A office tower, along with indoor and outdoor retail spaces.
Property Markets Group and Greybook Realty Partners’ Mixed-use Co-living Project
455 N.W. Second Avenue
Having acquired a 1.6-acre site for $46 million, Property Markets Group and Greybook Realty Partners are in the works of bringing a mixed-use development to the neighborhood. Planning to launch a new multifamily brand, the project is expected to break ground this year and would be part of the new venture. Renters can look forward to 220+ rent-by-bedroom, co-living suites in the 8-story building. The site is also expected to feature a hotel, over 35,000 sq. ft. of retail, plus a rooftop bar and restaurant. Tricera Capital has already agreed to acquire its street-level retail wing.
Interested in moving into this upcoming neighborhood? Experience the lifestyle with a luxury rental in Wynwood 25 or buy yourself a condo in buildings such as Wynwood Lofts, 250 Wynwood, or Wynwood Atriums. Call or email us to have an expert guide you into your new Wynwood home!