Evolve Wynwood closed on a land acquisition in Miami’s Wynwood neighborhood where it plans to develop 141 units of housing.
Mery Najera Dominguez and several associated LLCs sold the 1-acre parcel at 535-585 NW 35th Street for $9.8 million to Evolve’s Mike Winstead Jr. and Joe McKinney, who have launched the design of the housing project through Kobi Karp Architecture.
They expect the project to be completed by the end of 2024.
“The location is in a good long-term growth market for multifamily in proximity to the Wynwood Arts District and Miami Design District,” Winstead said in a statement.
Fabio Faerman with Fortune International Realty brokered the deal on behalf of Evolve. The new owners plan to build eight stories of housing.
Evolve’s development sits within the northwest corner of Wynwood just off Interstate 95, near where the Design District, Model City and Allapattah meet.
Source: Commercial Observer