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Developers Propose Nearly 1M-Square-Foot Project In Miami’s Wynwood

The 29N project would be one of the largest developments in Wynwood at 964,693 square feet.

The Wynwood Design Review Committee will consider on July 12 plans for the project at 95 N.W. 29th St.

L & L Carpe Wynwood Holdings, a joint venture between New York companies L&L Holding Co. and Carpe Real Estate Partners, has nine parcels there under contract, combining for three acres. It’s directly east of the Gateway at Wynwood office building, which is currently under construction.

Designed by San Francisco-based Gensler, 29N would have buildings of 12 and eight stories with a pedestrian paseo between them to connect Northwest 29th Street, Northwest 30th Street and Northwest First Avenue. The building would feature 523 apartments, 200,618 square feet of offices, 26,372 square feet of retail and 668 parking spaces. There would be amenities on floors seven through nine. The apartments would range from 504-square-foot studios to two-bedroom units of 1,093 square feet.

 

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Developers Plan Mixed-Use Project At Former Museum In Wynwood

New York developers L&L Holding Co. and Carpe Real Estate Partners formed a joint venture to build a mixed-use project in Miami’s Wynwood.

The developers have three acres at the northeast corner of Northwest 29th Street and Northwest First Avenue under contract. The property to be redeveloped would include the former Rubell Family art museum building at 95 N.W. 29th St.

Don and Mera Rubell relocated their art museum to Allapattah in 2019. The old building was listed for sale. Given how much development has been taking place in Wynwood, which is popular for its street art, dining and entertainment, it didn’t take long to find buyers.

L&L and CREP said they expect to close on the land in mid-2021, although they didn’t disclose the price. The site would allow for up to 800,000 square feet of development. Their project would combine offices, indoor and outdoor retail space, and multifamily. The size of the project hasn’t been disclosed.

“We are thrilled about this opportunity to create a one-of-a-kind 21st century mixed-use development in one of the world’s coolest and most eclectic neighborhoods,” said David Levinson, chairman and CEO of L&L. “CREP is the perfect partner given their successful track record in Miami and vision for further transforming Wynwood into a vibrant and dynamic place that celebrates the rich culture and history of the district. More importantly, our two firms share an affinity for bold, visionary projects that complement and enhance the surrounding neighborhood.”

Led by Levinson and Robert Lapidus, L&L is currently building a 670,000-square-foot office building at 425 Park Avenue in Manhattan. It’s also developing TSX Broadway, a luxury hotel in Times Square.

CREP, led by Erik Rutter and David Weitz, is known in Miami for the Oasis, an adaptive re-use project featuring restaurant, retail and offices. It landed Spotify as a tenant.

“When we entered the Wynwood submarket we were immediately attracted to its character – to the intangible buzz and energy you feel when walking the streets of the neighborhood,” Weitz said. “Our goal with this project on 29th Street and the Oasis is to preserve that character, and let it inspire our projects’ design and ethos.”

 

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