Golf Outing Tickets

The Real Deal Miami

Related Group and East End Capital plan Wynwood 25 office development

Developers broke ground on the 289-unit apartment component last week
By Katherine Kallergis | July 17, 2017 12:30PM

Rendering of Wynwood 25 Annex

The Related Group and East End Capital are going office in Wynwood.

On the same day the developers broke ground on their Wynwood 25 apartment building last week, they secured approvals for the Wynwood 25 Annex, a roughly 40,000-square-foot office building that will be built alongside the apartments, attorney Steven Wernick told The Real Deal.

Wernick, a land-use partner with Akerman LLLP, said the Wynwood Design Review Committee approved plans for the building on July 10.

The eight-story annex will have about 5,000 square feet of ground floor retail space, murals, terraces and amenity spaces. It will share underground parking with Wynwood 25, and is more accessible to the public via Second Avenue, Wernick said.

“What’s different about this project is it adds the boutique office, which is in such high demand,” he said.

The annex will be across the street from RedSky Capital’s Cube Wynwyd site at 222 Northwest 24th Street. Cube Wynwyd will have 80,000 square feet of office space and about 11,400 square feet of retail space.

Kobi Karp of Kobi Karp Architecture and Interior Design is designing both phases of Wynwood 25. The residential component closed on a $58 million construction loan from Bank of the Ozarks earlier this month. The 289-unit, eight-story building marks the first major residential project to break ground in Wynwood since it was rezoned. Before that, 250 Wynwood was the first new residential project in years.

Wynwood 25 will span 450,000 square feet with 31,000 square feet of ground floor retail space, a fitness center and a slew of other amenities. Most of the apartment rents will be less than $2,000 a month, according to a press release.

Miami’s condo king Related entered the Wynwood market in late 2015 when it purchased a 50 percent stake in Wynwood 26, another mixed-use project. It bought into Wynwood 25 in May.

East End, meanwhile, delivered its first project, the Wynwood Arcade, last summer. The adaptive re-use project is home to the Salty Donut, among other restaurants and retailers.

Related and East End could not immediately be reached for comment.