Related Buys In Wynwood, Announcement Soon

Related Group has partnered with another developer buy a 1.2-acre property in Wynwood.

An announcement about the property is expected within weeks, according to a source familiar with the developer’s plans.

Related paid $5.25 million for a 50 percent share in the property. According to The Real Deal, the partner in the transaction is Block Capital Group, a partnership between the Miculitzki family and Cabi Developers. Records show that they have been assembling the land through the beginning of this year.

 

13 Comments
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Marc305
4 years ago

I, for one, am sick and tired of people claiming that this area should be left alone because it has character. This area is sketchy at best and right down not safe at worst. Crimes happen there on a monthly basis, tripadvisor.com users have it listed as a “Partially Abandoned Ghetto.” Cynergi was the catalyst and now more needs to happen. Related – builds high rises and hopefully they will change the zoning codes and clean this area up.

Ian
4 years ago

Property owners in the area and the city already changed the zoning codes:
http://www.miamigov.com/planning/wynwood.html.

Anonymous
4 years ago

Goodbye to the ghetto one step at a time. These are going to be midrises probably. Why would a developer only stick to doing high rises? That’s a pretty dumb notion. They go as high as their allowed to.

Anonymous
4 years ago

related isn’t stupid….they’ll design a project that appeals to younger people who are wanting to live in urban area and will almost assuredly will have retail component and my guess is will be on a smaller sq footage per unit to help with affordability..stay tuned….

Laz
4 years ago

most likely will turn to mid rises all of wynwood, im ok with that as that hood is pretty scetchy the more west you go, its no buena vista

Anonymous
4 years ago

Hopefully it’s midrises that try to at least honour the surrounding area, have retail on the bottom, some level of street interaction.

But sadly it’s probably going to be the same white+blue balconied condos they’d build anywhere else. For the record, I welcome gentrification/cleaning up bad areas, just not Brickellisation. We already have a ton of that and there’s still much more empty space and gaps to fill in surrounding areas before they decide to swallow up Wynwood because now it has some semblance of name recognition.

Danny
4 years ago

You do know Related builds more than just condos?

Anonymous
4 years ago

say goodbye to all those single family homes in the area. wynwood will soon look like edgewater

Anonymous
4 years ago

You say that like it’s a bad thing. So we should mourn the loss of crack houses and all the economic vigor they brought to the area?

Geez, gentrification’s so bad, getting rid of all the crime that really gives character.

P.S. Neither the zoning nor FAA requirements would allow for Edgewater-style high-rises, but try again.

Anonymous
4 years ago

Related only builds high rises, so there goes the neighborhood you all thought you were getting in Wynwood.

Anonymous
4 years ago

Do your homework. Wynwood (20th north to 29th street…I-95 east to the railroad tracks) was rezoned to WynwoodT5. This allows for 5 stories by right, with the option to buy up to 8 stories…12 stories along the transit corridors, which this location is not. There will not be edgewater style high-rises here, but instead a pedestrian scale mixed use neighborhood. This is exactly what Miami needs

Danny
4 years ago

You drove by a couple of Related projects, see the banners and from that, you now know every detail of the company. The ins and outs of every one of their projects.

Related does more than high rises.

I am not a Related pusher but it’s getting tiresome reading half of more posts on the site which are false comments because it is a “Developer” or the architect made a “Lame” design or it’s, boy another whack “Arquitectonica” project or its a “ghetto” that person is a fool to develope there.
Developers buy where they can add value to make a return and the original property owners get a large sum for their property. No need to make it more than what it is.

Danny
4 years ago

They are making good $ for those properties. It isn’t a sad story.