Miami’s Wynwood Arts District is getting a new 1 million-sq-ft mixed-use campus following the announcement that L&L Holding Co. and Oak Row Equities have secured $215 million in construction financing for the Wynwood Plaza. The Gensler-designed project will bring Class-AAA office, residential, retail and outdoor space to 95 NW 29th St. in Miami. According to a Jan. 20 statement, full project financing is now in place, and major construction is set to start immediately with full completion scheduled for 2025. Two full floors of the 12-story, 266,000-sq-ft office tower are pre-leased, according to the announcement. Two firms, investment firm the Claure Group and law firm Weitz & Luxembourg, are set to open offices at the campus totaling 43,400 sq ft.
Matt Knisely, managing director of project partner Shorenstein Properties, says the fast-growing population and business-friendly environments in Florida and Miami continue to drive corporate expansions and relocations, especially among prominent technology, financial and professional services firms. The project’s most distinctive characteristic will be a landscaped 26,000-sq-ft outdoor public plaza—set to be one of the largest in Miami—that will feature work from local artists. The project will build 509 luxury rental apartments and 32,000 sq ft of retail.