Jorge Perez has called Wynwood a “very hot” neighborhood, and now Related Group has announced another investment there.
The developer has purchased a 50 percent share in the Wynwood 25 rental project with New York developer East End Capital, the companies announced yesterday.
The project will include 289 micro-units, ranging in size from 400 to 1,200 square feet. Prices will start at about $1,400 per month. 80 percent of units will be priced under $2,000.
31,000 square feet of ground floor retail space and 340 parking spaces are also part of the plans.
Groundbreaking is scheduled for this summer, and construction financing is expected to be finalized soon.
Kobi Karp is the project architect.