Dallas REIT wants to build mixed-use rental complex in Wynwood

Rezoning necessary for parcels that consist of single-family homes and duplexes

Miami /
Nov.November 09, 2017 08:45 AM

Rendering of Westdale Wynwood

One of the nation’s largest multifamily companies is planning a major project for the north end of Wynwood.

Dallas-based Westdale Real Estate Investment Management is seeking to redevelop 19 properties in Miami’s hot neighborhood into a 202-unit apartment complex with some office and commercial space, according to documents and plans submitted to the city’s planning and zoning department. The 3.42 acre site is located about a block north of Northwest 29th Street between Northwest Second Avenue and Northwest Third Avenue.

Westdale needs city approval to rezone most of the parcels, which currently consist of single-family homes and duplexes. The new development, to be called Westdale Wynwood, would be a mix of buildings, including three-story towers on the northern and western parcels and townhouse-style apartments on the southern lots. Some of the buildings would feature Spanish Mission and Mediterranean Revival design elements to fit in with neighboring properties.

Westdale executives could not be immediately reached for comment. The company’s application is scheduled to go before the Miami Planning and Zoning Board on Nov. 15. A site analysis by project architect Cesar Garcia-Pons of Perkins + Will claims that rezoning the properties is appropriate because of the transitional nature and poor condition of the existing neighborhood.

“The existing one-story single-family residences are no longer in scale or compatible in character with the existing buildings or current uses to their immediate east, south and west,” Garcia-Pons wrote. He added that the site would provide a townhouse buffer between the proposed higher density buildings and existing “higher intensity uses.”

However, Miami’s land development chief Jacqueline Ellis is recommending the planning board deny Westdale’s application because rezoning the properties would be inconsistent with the goals of the Miami 21 zoning code. In her analysis, Ellis said the proposed development is not compatible with surrounding properties in Wynwood. “The proposed change in zoning is an intrusion of higher density and intensity into the established neighborhood,” she wrote.

Through an affiliate led by Westdale CEO Joseph Beard, the company assembled the 19 properties between June and October of last year, paying a combined $16.39 million. The REIT owns more than 200 commercial and multifamily properties in 30 cities valued at $4 billion, according to its website.


Related Articles

arrow_forward_ios
Miami Mayor Francis Suarez and Commissioner Joe Carollo (Getty)
Controversial Virginia Key homeless camp plan put on hold
Controversial Virginia Key homeless camp plan put on hold
Rendering of 830 Brickell office tower; Cushman & Wakefield's Brian Gale, JLL's Manny De Zárraga, Avison Young's Donna Abood, Dwntwn Realty Advisors' Tony Arellano and Stephen Rutchik. (Credit: OKO Group and Cain International, JLL, CW, Dwntwn Realty Advisors, Cushman & Wakefield, Avison Young, Getty, 830 Brickell)
Meet the commercial brokers making bank in Miami
Meet the commercial brokers making bank in Miami
Brick & Timber's Jesse Feldman and Glenn Gilmore, Tricera Capital's Ben Mandell, and Lndmrk Development's Alex Karakhanian with Cube Wynwd (Brick & Timber, LinkedIn, Tricera, Lndmrk Development, Getty Images)
Brick & Timber to buy Cube Wynwd office building for $60M
Brick & Timber to buy Cube Wynwd office building for $60M
From left: One Flagler in West Palm Beach, 830 Brickell in Brickell, and Eighteen Sunset in Miami Beach (Getty, Related Southeast, LoopNet, Koniver Stern Group)
Spurred by new-to-market firms, South Florida office rents hit record highs
Spurred by new-to-market firms, South Florida office rents hit record highs
From left: Fisher Brothers' Arnold and Kenneth Fisher with The Wynhouse
“Forced and contrived”: Fisher Brothers’ Wynwood rental project strikes out with Miami board
“Forced and contrived”: Fisher Brothers’ Wynwood rental project strikes out with Miami board
The Comras Company's Michael Comras with 6901 Biscayne Boulevard (Getty, The Comras Company, iStock)
Up in smoke? Comras loses bid to open medical marijuana dispensary
Up in smoke? Comras loses bid to open medical marijuana dispensary
Michael Comras and Marc Roberts with Google Street View of the properties at 60 Northeast 11th Street, 6901 Biscayne Boulevard, 2222 Northwest Fifth Avenue and 172 West Flagler Street all in Miami (Google Maps, University of Miami)
Miami the medical pot mecca? Michael Comras, Marc Roberts seek to open dispensaries
Miami the medical pot mecca? Michael Comras, Marc Roberts seek to open dispensaries
R & B Realty’s Shelby Rosenberg and The Gateway at Wynwood (R & B Realty Group, iStock)
Lease roundup: The Gateway at Wynwood scores three new tenants
Lease roundup: The Gateway at Wynwood scores three new tenants
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...