No Comments

New Design Submitted For 2000 Wynwood

New plans have just been sent to Miami’s Wynwood Design Review Committee for an apartment building in Wynwood.

Previously, plans for the site were submitted to the UDRB for project with a similar unit count.

The new plans show that the 12-story project is now proposed to include:

  • 310 residential units
  • 9,416 square feet of retail
  • 308 parking spaces

The parking garage is lined on three sides with residential. There were 5 walk-up residential units on the ground floor in the previous plan which have been removed.

Leo A Daly is now the architect. Arquitectonica was the architect for the first submittal.

The developer is Clearline Real Estate.

In February, the developer signed a deal for water and sewer utilities for 310 apartments, 1,000 square feet of full service restaurant, and 8,300 square feet of retail.

The WDRC hearing is scheduled for June 20.

 

Source:  The Next Miami

No Comments

Mast Capital, Rockpoint Underway On Nine-Story Multifamily Project In Miami Beach

Mast Capital, in partnership with Rockpoint, is underway on a nine-story, 178-unit multifamily development located at 3900 Alton Road in Miami Beach.

Designed by Arquitectonica, the unnamed apartment community will consist of units ranging from studios to three-bedroom apartments sized from 560 square feet to 1,410 square feet.

Amenities will include an elevated pool deck, barbecue area, outdoor gaming area, fitness and yoga studio, resident lounge, coworking spaces and a pet washing station.

After securing a $64 million construction loan from PNC Bank in Nov. 2022, Mast Capital and Rockpoint broke ground on the development in February 2023 and plan to open the community by fall 2024.

 

Source:  RE Business

No Comments

Tricera Capital, Related Group Announce Schonfeld Strategic Advisors Lease Expansion At Wynwood’s The Dorsey

Tricera Capital, the Miami-based commercial real estate firm led by Ben Mandell, Alex Karakhanian’s LNDMRK Development and market leader Related Group finalized a lease expansion with New York-based hedge fund Schonfeld Strategic Advisors at the partnership’s Dorsey in the Wynwood neighborhood.

Schonfeld is doubling its office space at the Dorsey, adding a second floor to its previous lease at the mixed-use development. The lease expansion brings the Dorsey’s office component to 100-percent occupancy.

The roughly 18,000-square-foot lease expansion brings Schonfeld’s total Dorsey footprint to about 37,000 square feet. Terms of the lease were not disclosed.

“This is a testament to the quality of not only the Dorsey, but the Wynwood neighborhood as a whole,” Related President Jon Paul Perez said. “Firms like these can go anywhere in South Florida, but Wynwood is at the top of every list. The neighborhood has truly hit its stride and we look forward to continuing to drive its thoughtful growth.”

Tricera, LNDMRK and Related teamed up to develop the Dorsey, with renowned Arquitectonica designing the project. The property includes more than 300 apartments, 78,000 square feet of office, 33,000 square feet of retail and ample parking and open space.

“This is another example of high-profile financial firms showing their commitment to the Miami office market, with Wynwood remaining especially attractive to these firms,” Tricera President/Head of Leasing Dustin Ballard said. “The pandemic-era corporate migration to South Florida continues to take shape, as our region’s office sector keeps outperforming other major U.S. metropolitan areas. Relocation demand is still incredibly high as we begin 2023.”

Randy Abend and Paul Mas of JLL’s New York office and Matthew Goodman, formerly with JLL’s Miami office, represented Schonfeld in the Dorsey lease, while Cameron Tallon, Emily Brais, Eric Groffman and Randy Carballo of CBRE represented ownership.

 

No Comments

Construction Permits Filed At High-Tech Lynq Wynwood Office Campus

A construction permit application has been submitted to Miami’s Building Department for the Lynq Wynwood office complex (formerly knows as Wyn on 5th).

The developers have previously said the project would be the most high-tech office campus in Miami.

The project consists of a north and south building  across the street from each other, both at 8-stories. The two buildings will have a combined 36,000 square feet of ground floor retail space, and 331,000 square feet of office space. Each building will also have an enclosed parking garage, with 370 spaces in the south garage and 265 spaces in the north garage.

According to a May press release, the developers secured the necessary approvals to proceed with construction of the buildings. The project was reviewed by the Wynwood Design Review Committee and the Urban Design Review Board in February and March.

The full construction permits are in pre-screening with Miami’s Building Department since July 22, meaning that the plan sheets have yet to be filed. The developer is opting to use a private reviewer to expedite the process, the permit shows.

Juneau Construction Company is listed as the contractor.

DERM records show that permits were also filed in late July for drainage wells at both the north and south tower construction sites.

RAL Development and TriStar Capital are the developers. Arquitectonica is the architect.

 

Source:  The Next Miami

 

No Comments

Hyatt Proposes Massive Mixed-Use Project In Downtown Miami

Hyatt Hotels and Miami-based developer Gencom unveiled plans this week to transform the waterfront site of the Miami Hyatt Regency into a massive luxury mixed-use project.

The proposal, designed by Arquitectonica, features three skyscrapers. One tower will hold a Hyatt hotel, featuring 615 rooms and 264 serviced apartments. The two others will function as residential buildings, housing 1,542 rental apartments in total.

The three structures will sit atop a podium that will have 190,000 square feet for large gatherings such as conferences, 12,000 square feet for retail, 20,000 square feet for coworking offices and 1,100 parking spots, according to the joint venture. The project will also include a 50,000-square-foot public park, portions of which would face the Miami River.

The current development, located at 400 SE Second Avenue adjacent to Brickell Avenue, was built in 1982 through a city-approved ground lease. It holds the James L. Knight Center theater and a Hyatt hotel, both of which will be demolished if the proposal is approved.

“Our team’s privately financed upgrades will help ensure the Hyatt hotel site remains a critical economic engine for decades to come,” Phil Keb, executive vice president of development at Gencom, said in a statement.

Back in 2018, Hyatt proposed another redevelopment project that never got underway. With the current ground lease set to expire in 2027, the joint venture is seeking to extend the lease from 45 to 99 years.

To secure approvals for the project and the revised lease, the Miami City Commission must first OK the plans. Afterward, Miami voters would have the final say when the proposal is placed on the ballot this November.

If approved by a simple majority, construction would commence in 2025 and take about four years to complete, according to a spokesperson for the joint venture.

 

Source:  Commercial Observer

No Comments

Related Group, W5 Group Break Ground On Quarters Wynwood Co-Living Development

The Related Group and W5 Group have broken ground on Quarters Wynwood, a new co-living development coming to Miami’s hot Wynwood neighborhood, after the developers locked down a $29 million construction loan.

The building, which will be located at 33 NW 28th St., will feature shared living spaces and residents will rent bedrooms in shared apartments. The financing was provided by the Chicago-based MP Real Estate Capital and the property will be managed by Quarters, a Berlin-based co-living operator.

Quarters Wynwood is designed by Arquitectonica and will feature 63 apartments with 217 full furnished co-living bedrooms. Amenities will include a rooftop pool deck, fitness center, co-working spaces. The project will also bring 3,852 square feet of ground floor retail.

 

Source:  ProfileMiami

No Comments

Related Scores $88M Construction Loan For Dorsey Project In Wynwood

The Related Group and its partners secured an $87.5 million construction loan for the Dorsey project in Wynwood.

Bank OZK provided the financing for the 12-story mixed-use development planned for Northwest Third Avenue between 28th and 29th streets. Related, Alex Karakhanian’s Lndmrk Development and Tricera Capital are partnering to develop the project.

The Dorsey will include 306 apartments, with a majority between 500 square feet and 620 square feet, with some as small as 400 square feet. The commercial space will be divided into about 33,000 square feet of retail and 78,000 square feet of office. The project will also run along a planned woonerf, a Dutch-inspired pedestrian-friendly street. The Related joint venture secured approval for the project from the Miami Urban Development Review Board in late 2019. Arquitectonica is the architect.

Monthly rents are expected to range between $1,800 and $3,900. Amenities will include a gym with a yoga studio and spa, a courtyard, recreation area for pets and a garage, according to a spokesperson.

Karakhanian said the building is expected to be delivered in about 20 months. Construction began this month.

Weck 29 LLC paid $32 million for the assemblage in September 2019. Affiliated companies secured the loan.

Related has been active in Wynwood, where Jon Paul Pérez, newly minted president of the firm, has taken the helm.

 

Source:  The Real Deal

No Comments

Wynwood Mixed-Use Project Gets Design Backing

One of the largest mixed-use projects coming to the booming Wynwood Arts District has received the support of an important review board.

AMLI Wynwood is designed to bring 316 residential units and 30,596 square feet of commercial-retail uses to 70 NW 25th St.

Despite concerns about the massing of the project and its repetitive façade, the Wynwood Design Review Committee recommended approval, after listing several conditions.

PPF AMLI 45 Wynwood LLC is proposing the eight-story building with 544,515 square feet. The building includes a garage for up to 388 vehicles, and 43 bike rack spaces.

The developer said the project will provide needed residential space while activating the street with commercial uses.

Javier F. Aviñó, an attorney for the developer, wrote to the city saying the project includes activated frontages pulled up to the street, creating an engaging pedestrian environment.

“The Project incorporates a generous cross block passage for through-block pedestrian connectivity between 24th Street and 25th Street and numerous landscaped courtyards for residents, including on the 7th and 8th floors,” he wrote.

The passage will be lined with retail and food and beverage options.

To aid in breaking up the building massing, the project includes a more dramatic setback of 17 feet on the upper floors along 24th Street and carries the internal courtyard spaces up through the building, said Mr. Aviñó.

He said the project will provide plenty of opportunities for large murals or graphic art treatments throughout.

The site is within the Neighborhood Revitalization District (NRD-1), the intent of which is to transition the existing Wynwood industrial district into an active, diverse, mixed-use neighborhood.

The NRD-1 district aims to preserve the unique industrial character of the area while promoting a 24-hour environment where people work, live, and play.

Ray Fort of architectural firm Arquitectonica presented details about the site and renderings for the building.

“We have about 200 feet of frontage along 25th Street and 450 along Northwest 24th. We have this T shaped site to work with,” he said.

All amenities are planned for the rooftop level including a dog run, outdoor seating and a barbecue area, a pool and a fitness area.

“Wynwood is an entertainment district and naturally what comes with that is a lot of noise, but people want to live in the area as well,” said Mr. Fort.

“So, the design takes that into account to make sure these are quiet (residential) units, recessed from the street and shielded so people can really live in this neighborhood and not be so impacted by the noise,” he said.

Chairman Victor Sanchez said, “If I look at the individual pieces on a case by case basis, it makes sense … I like the concept and idea … but when you put it all together, it’s a massive project.”

He added, “It stands out. It’s almost like it was designed outside of Wynwood and then placed in here … it almost looks like a massive repetitive building.”

There were some items he liked.

“I love the passage. I love the courtyards and the great creative way to bring natural lighting into those unique spaces, and most are accessible to the public, which is nice,” he said.

But Mr. Sanchez said he didn’t like the repetitive façade.

Committee member Amanda Hertzler agreed, calling the building monolithic.

“The façade feels expansive … The density is just packed in … I do wish I saw more of a differential between the façades so it did feel like it was broken up a little bit,” she said.

Other committee members echoed statements about the massing of the building and the repetitive façade.

In response, Mr. Fort said “the project has to have some sense of unification. You have to clearly signal to your user how to get in, how to get out. With multiple façades you create issues of ‘what building are we looking at here.’”

After more discussion, Mr. Fort said developers would consider subtle changes in the grid work patterns and the colors.

On the vote to recommend approval the committee listed several conditions: add modulation and variety to the street front articulation; widen and celebrate the entrance to the paseo; consider subtle changes to the façade including paint patterns and more; and different balconies and railings; and engage a proper art consultant.

The applicant is seeking waivers to allow:

  • Up to a 30% reduction in required parking spaces. The property is within a quarter mile of a transit corridor, including multiple Metrobus lines and trolley routes.
  • 86% lot coverage when 80% is permitted.
  • Vehicular entries less than 60 feet apart.

 

Source:  Miami Today

No Comments

Another Co-Living Apartment Building Is In The Pipeline For Wynwood

Another co-living project is in the pipeline for Wynwood.

The project between 33-51 NW 28th St. will include 200 fully-furnished units, according to a press release. The 8-story project will have 3,600 square feet of ground-floor retail space. Amenities include a gym and rooftop pool. The Related Group will develop the project with real estate investor W5 Group. Related and W5 hired the Grove-based architectural firm Arquitectonica to design the building.

It will be another co-living building in Wynwood, behind the Property Markets Group and Greybrook Realty Partners project.

“As a Miami resident myself, I have witnessed Wynwood’s ascent with some interest,” said Ralph Winter, principal of W5 Group in the release. “However, as neighborhoods become more desirable, young people are often priced out. Co-living is an exciting proposition that offers tremendous value, enabling them to experience modern living in highly attractive units — all while meeting like-minded individuals and forming rewarding new bonds in coveted metropolitan areas.”

Co-living, or apartments building with micro units and shared amenities, including communal kitchens, is one way developers aim to resolve Miami’s growing affordability issue.

The investment is part of the effort to expand the Berlin-based Quarters co-living and property management brand on behalf of the W5 Group and the Medici Living Group. The teams are investing $300 million of equity to expand the brand in select U.S. cities from Europe. There are 14 cities across the globe, including Miami, that are expected to receive a Quarters-branded project or already have one, including Washington, D.C., New York, Chicago, the Hague, Stuttgart, Munich, Rotterdam, Hamburg, Amsterdam, Frankfurt, Philadelphia and Düsseldorf.

The W5 Group has offices in Switzerland, New York and Miami. It established its foothold in Miami Beach in 2009.

The neighborhood continues to attract developers. A new hotel by the San Francisco-based Sonder team and an office building are also planned for Wynwood.

 

Source:  Miami Herald

© 2024 FIP Commercial. All rights reserved. | Site Designed by CRE-sources, Inc.