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Rilea Group Plans Short-Term Rental In Wynwood

Rilea Group has proposed an apartment building in Miami’s Wynwood neighborhood that would be exclusively for short-term rentals.

The Wynwood Design Review Board will consider plans for The Rider on the 31,358-square-foot site at 100 N.E. 29th St. and 101 N.E. 28th St. on Oct. 12. The Rider LLC, an affiliate of Miami-based Rilea Group and Michigan-based Promanas Groupacquired the property for $12 million in 2021.

It currently has a small industrial building on the site, which is located along the FEC Railway. Rilea Group President Diego Ojeda said the project is called The Rider because it’s near the tracks and that Brightline’s expansion plan for local rail will include a station there at some point.

The project would total 237,823 square feet in 12 stories, with 130 apartment/hotel units, 6,439 square feet of retail and 146 parking spaces. There would be a pool and a bar on the roof.

Ojeda said the bar was inspired by Sugar at Brickell City Centre and it should bring more people to the neighborhood, which is already popular with tourists.

The apartments would be placed on short-term rental platforms like Airbnb and, he said.

The units, which will come furnished, would range from 445 to 1,451 square feet. There would be 18 studios, 67 one-bedroom units, 36 two-bedroom units, and nine three-bedroom units.


Source:  SFBJ

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Rilea, Promanas Buy Wynwood Dev Site, Plan Short-Term Rentals

A short-term rental project with 127 units is coming to Miami’s Wynwood neighborhood.

Developers Rilea Group and Promanas Group bought the site on the southwest corner of Northeast 29th Street and the Florida East Coast Railway tracks for $12.2 million, with plans to build The Rider, according to a release from Rilea and Promanas.

The properties at 94 and 100 Northeast 29th Street and 101 Northeast 28th Street total 0.6 acres, records show. Seller 101 NE 28 St LLC ties to Jeffrey Miller of Krillion Ventures.

Alfredo Riascos and Yonatan Missika of Gridline Properties represented the buyers. Liana Rivera of LLV Realty represented the seller.

The area still lacks hotels, which prompted the developers to build a short-term rental project, Rilea’s Diego Ojeda said in a release.

Plans call for a 12-story project with 8,500 square feet of ground-floor retail, a rooftop restaurant and a pool bar, according to the release. Construction is expected to start in 2023.

Units at The Rider, near a planned passenger commuter train station, will be rented through short-term rental sites such as Airbnb and VRBO, according to the release.


Source:  The Real Deal

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