Miami-based One Real Estate Investment announced today that plans for its large mixed-use project, Wynwood Square, received approval by Wynwood’s newly created Design Review Committee. This makes it the first project under the City of Miami’s new zoning in Wynwood that allows for projects of this size.
Jeronimo Hirschfeld, founder, chairman and CEO of One Real Estate Investment, stated, “We are excited about this mixed-use pedestrian-friendly project as it will help address Wynwood’s dearth of residential and office uses – while adding much needed prime retail to North Miami Ave. Our goal is to integrate these three elements, both physically and functionally, to enhance Wynwood’s already stellar appeal.”
Additionally, by a 7-0 vote, One Real Estate Investment received approval from City of Miami’s Urban Development Review Board.
The two vacant lots, comprised of 78,050 square feet, are located at 2201 and 2245 North Miami Avenue. One Real Estate Acquisitions, a division of One Real Estate Investment, paid $15 million for the properties last year. The proposed 12-story project includes: 267 residential units, 55,227 square feet of office space, 25,214 square feet of ground floor retail, and almost 500 parking spaces.
Marc S. Coleman, President of Development, added, “We are currently working on construction drawings and finalizing the capital structure, and plan to break ground by August of this year.”
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