Miami Board Approves Wynwood Rezoning
Following 3 consecutive record sales years and more than 2 years of robust appreciation, the Miami real estate market continues to strengthen marked by double-digit increases for sales, prices and new listings. Thousands of these new listings are in fact units of the now 198 condo towers under construction.
A City of Miami board has allowed a developer in Wynwood to construct the densest building in the expanding neighborhood. The Planning, Zoning and Appeals Board voted 7-1 in favor of developer Wynwood 250’s request for a zoning change giving it the ability to build one or more eight-story structures and up to 80 apartment units on a half-acre property on Northwest 24th Street, Daily Business Review reported. City staff had recommended a denial of the request. Wynwood 250, a partnership between David Polinsky and Bradley Carlson, previously announced plans to construct a six-story, 11-unit luxury condo building on about half of the property.
“What’s happening in Wynwood right now is exciting, but it’s been limited to adaptive re-use so far,” said attorney Steve Wernick, who represents Wynwood 250. Miami architect Carl Levin is working with New York architect Laith Sayigh on project designs.
The Wynwood Arts District is home to over 70 Art Galleries, Retail Stores, Antique Shops, Eclectic Bars, and one of the largest open-air street-art installations in the world. * Some notes taken from the Real Deal.
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