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8-Story Sister Wynwood Office Buildings Get OK

As the popular Wynwood Arts District evolves it is enjoying a boom in new office space, including a large mixed-use project that will bring a working campus of two 8-story sister buildings at Northwest Fifth Avenue and 27th Street.

WYN ON 5TH NORTH, at 2701 NW Fifth Ave., and WYN ON 5TH SOUTH, at 2661 NW Fifth Ave., are proposing together nearly 250,000 square feet of offices.

Developer-applicant RAL Tricap Wynwood LLC presented the project March 16 to the City of Miami’s Urban Development Review Board, which recommended approval.

The northern building is to offer 106,414 square feet of offices and 6,961 square feet of commercial-retail use, along with 268 parking spaces and 33 bike spaces. The southern building is designed with 139,254 square feet of offices, 15,999 square feet of commercial-retail use, along with parking for 377 vehicles and 36 bike spaces.

The buildings will total 578,325 square feet of floor area.

Each building will have an enclosed garage and an activated roof deck.

The developer seeks several waivers:

  • Increase maximum lot coverage to 35,254 square feet, or 88.6%, where up to 80% is permitted.
  • A less than 30% reduction in total required parking spaces for a project within a transit corridor area.
  • Above-ground parking on a secondary frontage to extend into the second layer beyond 50% of the length of the frontage.
  • Parking contained within a mezzanine space.
  • Extensions above the maximum height for stair, elevator, mechanical enclosures, habitable space, or non-habitable rooms.

The board voted to recommend approval with a recommendation to study alignment of the entrances at street level, and a condition to study the proposed artwork on the façade at street level to have it be more Wynwood-like.

 

Source:  Miami Today

 

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Tristar Proposes Pair Of Office Buildings In Wynwood

New York developers Tristar Capital and Ral Development Services filed plans for a pair of neighboring office buildings in the Wynwood Arts District neighborhood of Miami.

The Wynwood Design Review Committee will consider plans on Feb. 9 for The Wyn on 5th South and North at 2641 and 2701 N.W. Fifth Ave, respectively. The 1.6 acres of land is owned by Cainstar LLC and Brownstar LLC, both affiliates Tristar and Ral Development. They currently have several two-story commercial buildings that would be demolished.

The developers formed Ral Tricap Wynwood LLC to build this project.

“The development team has assembled a best-in-class design and engineering bench to bring activated, engaging and thoughtful urban planning and architectural design to the site, creating a new arrival point and gateway into the Wynwood neighborhood,” said Spencer Levine, president of Ral Development. “Wyn on 5th will reimagine the work experience and create a transformative way to work in Wynwood.”

Both buildings would rise eight stories with a pedestrian paseo between them and have active roof decks.

The Wyn on 5th South would total 318,325 square feet, with 139,254 square feet of offices, 11,904 square feet of retail, 4,707 square feet of indoor amenities, an 8,532-square-foot outdoor amenity deck on the fourth floor, and 370 parking spaces, including 74 for electric vehicles.

The Wyn on 5th North would measure 260,265 square feet, with 106,414 square feet of offices, 6,961 square feet of retail and 268 parking spaces, including 54 for electric vehicles.

 

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TriStar Affiliate Buys Wynwood Property To Start Major Development

An affiliate of New York-based TriStar Capital and New York-based RAL Development Services paid $13 million for a building in Miami’s Wynwood Arts District to set up a major development.

JCR Investments of Boca Raton, managed by Ok Bun Yu in Boca Raton, sold the 31,250-square-foot site at 2701 N.W. Fifth Ave.

The buyer was Brownstar LLC, managed in partnership with RAL and TriStar, a major commercial real estate developer led by and David Edelstein. Dallas-based Comerica Bank provided a $12.1 million mortgage to the buyer.

The property has a 20,239-square-foot building that was constructed in 1963 and recently housed clothing and jewelry retailers.

 

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