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Construction Permits Filed For 186-Unit Wynwood Residential Development

Breakers Capital and Alchemy-ABR Investment Partners Wynwood Multifamily Project 1170x435

Another residential development has entered the construction permitting process in Wynwood.

The construction permit application is for a 12-story mixed-use building replacing a parking lot formerly owned by the Salvation Army.

The permit filing was first created in late November, with the full plans filed in late December. Review is currently underway by Miami’s Building Department.

Beauchamp Construction is listed as the contractor on the permit.

Miami’s Urban Development Review Board voted unanimously in October to approve the development without requiring any modifications.

The mixed-use development is planned to rise 12 stories and include:

  • 186 residential units
  • 9,444 square feet enclosed amenity space, plus outdoor amenity space
  • 14,618 square feet of ground floor retail space
  • 167 parking spaces on three levels

Breakers Capital and Alchemy-ABR Investment Partners of New York are the developers.

Arquitectonica is the architect.

 

Source:  The Next Miami

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Salvation Army Sells Wynwood Site For $526 PSF

The Salvation Army sold its property in the Wynwood area of Miami to a developer for $18 million.

The nonprofit sold the 34,200-square-foot parking lot at 18 N.W. 23rd St. to Alchemy-ABR-BCP Wynwood LLC, in care of Alchemy-ABR Investment Partners in New York.

Israel Discount Bank of New York provided a $12 million mortgage to the buyer.

The price equated to $526 a square foot of land.

It’s located just west of the Wynwood Square mixed-use project.

According to an analysis of the development potential of the site by Miami-based Deepblocks, the property could be developed with 118 residential units in up to 12 stories.

Wynwood was transformed from an industrial area to a center for street art, restaurants and entertainment. After the city approved more density there, there was a boom of multifamily, office and retail construction in the neighborhood.

Alchemy Properties is best known as a condo and apartment developer in New York. Brian Ray, managing partner of the firm, said they plan to build high-end multifamily rentals in Wynwood.

 

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