NoMad Residences Wynwood Gets Construction Financing, Cranes Installed

NoMad Residences Wynwood now has its cranes in place, and a construction loan for the project has been issued.

The developers of the project announced earlier this month they has been issued $141.5 million in construction financing.

The financing includes a $51.5 million mezzanine loan from Related Fund Management, the investment management arm of New York’s Related Companies. Kennedy Wilson, a global real estate investment company, provided a $90 million senior construction loan for the project.

More than 80% of the planned 329 residences are now in contract.

A groundbreaking ceremony for the nine-story building took place in October 2023.

The project is being developed in partnership with NoMad Hotels, and its parent company, Sydell Group.

Owners will be permitted to rent their units on a short term basis without restrictions. Units will be delivered furnished, and there will be an on-site management team to handle check-in and check-out.

Casa Tua Cucina will anchor the ground floor space.

There will also be a rooftop restaurant and bar, The NoMad Bar, helmed by James Beard Award Winner Leo Robitschek.

Arquitectonica is the architect.

Completion is planned in 2025.

Related Group and partner Tricap are the developers. Lndmrk Development is also a partner in the project.

 

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Tomas
11 days ago

This will cement NW 2nd Ave as the premier street in the Wynwood district, the crowds there are already insane even in the day time. It badly needs crosswalks, traffic lights, and protected bike lanes because driving there is like a test of mental fortutude as is.

anonymous
11 days ago

100% agree. They need to remove the street parking and turn that into the bike lane and add painted cross walks.

Cover the Podiums
11 days ago

hopefully they don’t run a metromover extension. It will ruin the aesthetic of the street.

I’ll a streetcar or a bus rapid transit instead

Miami
11 days ago

I think the plan is up N Miami Ave.

Azarius
11 days ago

Today is crane day

Cover the podiums
11 days ago

Crane days are good days

Cover the Podiums
11 days ago

I know its not easy cheap, but thank you to the developer for putting the parking underground. I was walking down Wynwood yesterday and saw the massive foundation they had dug out. Lots of emphasis on architecture on this project

Anon
11 days ago

Much easier to do in this location.

Anonymous
11 days ago

With Hilton buying the NoMad brand, hopefully we’ll see an expansion in licensing deals.

Calivalle
11 days ago

Wynwood is awesome…

Anonymous
11 days ago

Another beaut by Arquitectonica!