Thor and Related’s Wynwood residential and retail projects clear development review hurdle

Wynwood Plant and Wynwood 29 will have apartments geared to millenials

TRD MIAMI /
Sep.September 22, 2016 12:45 PM

Two major Wynwood mixed-use projects got the green light from Miami’s Urban Development Review Board on Wednesday.

Thor Equities’ Wynwood Plant and the Related Group-led Wynwood 29 both received approval recommendations for a series of zoning waivers to make the residential and retail projects feasible for development.

Wynwood Plant and Wynwood 29 are among a slew of upcoming projects designed under the guidelines set forth by the Wynwood Neighborhood Revitalization District zoning overlay.

New York-based Thor, led by Joe Sitt, is seeking city approval for a 10 percent increase in lot coverage, addition of service entries, a cross-block pedestrian paseo and a floorplate increase for a 12-story building that would house 306 residential units, nearly 67,000 square feet of retail space and 673 parking spaces.

Members of the review board praised architectural firm Touzet Studio for creating a building design that incorporates Wynwood’s industrial history and its current artistic aesthetics.

“This project addresses the texture, the history, the industrial area of Wynwood,” said board member Willy Bermello. “It feels like it belongs in Wynwood.”

Located on two acres off Northwest Second Avenue between 28th and 29th streets, the site currently houses vacant warehouses. Thor paid $29 million for nearly the entire block last year.

Earlier in the meeting, the board voted 3-1 to recommend approval of additional lot coverage, extending the parking structure, a 10 percent increase in the maximum lot area, and decreasing the parking by 300 percent for Wynwood 29, a 12-story residential, retail and office building. The project is being built by Related and Tony Cho’s Metro 1 Development, which owns the 1.215-acre site at 2828 Northwest First Avenue.

Designed by Arquitectonica, the project has four stories and 26,600 square feet of office space, 11 floors and 182 units of residential, nearly 20,000 square feet of retail space and a five-story parking garage.

Both projects will offer studio and one-bedroom apartments targeted to millennial renters.

Correction: A previous version of this story incorrectly stated Wynwood 29 would be a rental project. The development is actually a condo project. 


Related Articles

arrow_forward_ios

Join The Real Deal at its sixth annual Miami Showcase & Forum this week

La Social’s original location at 7601 Biscayne Boulevard (Credit: Google Maps)

The Weekly Dish: La Social to open in downtown Miami, Salt & Straw is going to Wynwood 25 & more

Tony Cho, Andres Nava and Valerio Morabito with 2143 Northwest First Avenue

Developer Valerio Morabito enters Wynwood market with $9M acquisition

Daily Digest Miami

54-story Turnberry Ocean Club tops off, Flagler streetscape project to break ground: Daily digest

A rendering of Arlo Wynwood

Quadrum Global plans Arlo hotel in Wynwood

From left: Jon Paul Perez, Alex Karakhanian, Tony Arellano and Devlin Marinoff over the site (Credit: Google Maps)

Related Group, Alex Karakhanian and partners drop $32M on Wynwood site

From left: Tony Arellano, Devlin Marinoff and 2729 Northwest Third Avenue

Miculitzki family lists property near Wynwood Walls for $18M

Jon Paul Pérez, Jorge Pérez and the downtown Miami skyline (Credit: iStock)

Miami’s biggest condo developer is going micro

arrow_forward_ios