The developers of The Wynwood Plaza have obtained $215 million in construction financing.
They have also announced that two full floors of office space have been pre-leased.
With full project financing now in place, major construction will commence immediately with full completion anticipated in 2025, the developers said in a press release.
Gensler is designing the project, and is also the architect of record.
The Wynwood Plaza will include one of the largest outdoor public plazas in Miami, at 26,000 square feet. James Corner Field Operation, which designed the Underline, is designing outdoor spaces at the project.
There will be 32,000 square feet of retail, including 6,600 square feet of outdoor dining.
A 12-story office tower will have approximately 266,000 square feet of space.
Claure Group, led by Marcelo Claure, will establish its headquarters in 25,400 square feet across the entire eighth floor. Weitz & Luxenberg, an acclaimed nationwide law firm, will open its first Miami office in 18,000 square feet across the second floor.
There will also be residences, with 509 luxury rental apartments.
Developers L&L Holding, Oak Row Equities, alongside project partner Shorenstein Properties and co-investor Claure Group, secured the loan from Bank OZK.
Dustin Stolly and Jordan Roeschlaub of Newmark represented L&L Holding and Oak Row Equities in capitalizing the project, while Scott Wadler and Michael Basinski of Berkadia arranged the Bank OZK financing.
