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L&L, Oak Row Land New Tenants, Start Construction On 1M SF Wynwood Plaza

Developers broke ground on The Wynwood Plaza on Thursday, a 1M SF mixed-used project that is the largest yet in Miami’s Arts District.

The Wynwood Plaza at 95 Northwest 29th St. is being developed by L&L Holding Co. and Oak Row Equities, which acquired the site — where the former Rubell Museum once stood — in December 2021 for $53M. California developer Shorenstein Properties and Claure Group, the family office of former SoftBank and Sprint CEO Marcelo Claure, joined the project as partners.

The development team held a groundbreaking ceremony Thursday evening commemorating the start of construction after securing a $215M loan from Bank OZK, according to a press release.

“Recognizing the need to create something of lasting value to Miami, we assembled an all-star team capable of cultivating an environment that is every bit as unique, artistic and sophisticated as the colorful neighborhood that surrounds it,” L&L co-founders David Levinson and Robert Lapidus said in a joint statement.

When it opens, which is expected to be in 2025, the Gensler-designed Wynwood Plaza will feature a 509-unit apartment building, 32K SF of retail, 6,600 SF of outdoor dining and a half-acre public plaza designed by renowned landscape architecture firm James Corner Field Operations, which designed Brickell’s Underline and Manhattan’s High Line.

 

Source:  Bisnow

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Large Mixed-Use Project Makes Big Changes To Win OK In Wynwood

The development team behind one of the largest mixed-use residential and office projects to rise in Wynwood continues to work with the City of Miami Planning Department staff and is confident of final approval.

Owner-developers L&L Holding Co. and Carpe Real Estate Partners are behind The Wynwood Plaza, formerly 29N, which is to rise at 95 NW 29th St.

At its October meeting, the city’s Urban Development Review Board voted to recommend denial of the project to the planning director, citing continued concerns mainly over the massing of the project.

Undaunted by the vote, the development team says it is continuing to work closely with the city staff to address the remaining concerns.

Attorney Steve Wernick, representing the owner-developers, noted that the team already changed the plan to address concerns the board raised in August: worries about the massing along 30th Street and a cross-block passage vehicular access on Northwest 29th Street.

The curb cut for the one-way vehicle entry on 29th Street has been refined with a smaller footprint, said Mr. Wernick.

“We’ve moved some functions into the garage so cars are not queuing in that space,” he said.

The midblock access will be limited to visitor vehicles managed by a valet.

As for the massing on 30th Street, Mr. Wernick said, “We’re working with staff now to introduce an additional element into the façade; it will visually break up the building.”

Designed by architectural firm Gensler, The Wynwood Plaza would bring 12- and 8-story buildings with 509 apartments to the neighborhood, 266,000 square feet of offices, 32,000 square feet of commercial-retail uses, and parking for about 668 vehicles.

“We look forward to continuing our constructive dialogue with the Miami Planning Department and hope to secure final approvals in the near future,” said Adam Metzger, principal and senior vice president of L&L Holding, in an email to Miami Today.

“Since agreeing to acquire the three-acre development site for The Wynwood Plaza just over a year ago, we have been working diligently to produce a design and program that will complement and significantly enhance the dynamic community that surrounds us.

“We greatly appreciate the feedback we have received from a number of important groups, including the Wynwood Design Review Committee, the Wynwood Community Enhancement Association and the city’s Urban Design Review Board.

“The design choices we have made as a result of our conversations have resulted in significant improvements to The Wynwood Plaza’s architecture, pedestrian realm and public outdoor spaces – all of which will benefit residents of the surrounding neighborhood for decades to come,” wrote Mr. Metzger.

He said they remain on target to start initial demolition work early next year.

Mr. Metzger added, “The project is already generating tremendous excitement. We are currently in active discussions for approximately one-third of The Wynwood Plaza’s proposed office space with a number of prospective tenants, which would bring hundreds of new jobs to Miami.”

The project would provide about 25,000 square feet for a ground floor public plaza connected by paseo to the north, south and west.

There would also be about 30,000 square feet of programmable rooftops.

In an Oct. 6 letter to the city, Mr. Wernick pointed out another change to enhance the pedestrian experience.

“The north façade has been modified in multiple ways that elevate and accentuate the paseo entrance. The ceiling height for the 30th Street paseo entrance has been increased from 12 feet to a new 22 feet datum, intentionally creating a more inviting and expansive entry point to the Project from the Wynwood Norte neighborhood into the central plaza and maintaining connectivity through to NW 29th Street.

“The portal width is being maintained at 60 [feet] in width, which is significantly wider than the 10 [feet] minimum dimension required for a cross-block paseo in the NRD-2 and wider than a standard city of Miami right of way, and is pedestrian-only, asserting the importance of the cross-block feature to the Project,” said Mr. Wernick.

“The 30th Street paseo entrance is now adorned with murals on the ceiling and exterior walls above the storefronts to create an immersive art experience … The portal entry is further strengthened by a canopy projection to orient the pedestrian towards the portal and provide additional articulation on the north façade,” he wrote.

The Wynwood Plaza is being described as a modern office tower and a highly-amenitized residential rental building, along with an array of indoor and outdoor dining and retail options.

 

Source:  Miami Today

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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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