Chicago-based Fifield Cos. and capital partner PGIM Real Estate are going vertical on Wynwood Station, a new transit-focused multifamily project under construction in Miami’s trendiest neighborhood, marking the latest sign of Wynwood’s ongoing urbanization. Read the full article here
Wynwood Station will be an 8-story, 210-unit luxury apartment and total 331,846 square feet. The project is Fifield’s second in the Miami area and the first in Wynwood, the Miami neighborhood known for its art galleries and walkability. The project was designed by MSA Architects, with construction financed by CIBC Bank USA, First Bank Chicago and Republic Bank.
When completed in April of next year, Wynwood Station will feature a mix of studio, one- and two-bedroom units that range between 567 to 1,036 square feet, in addition to 11,000 square feet of ground-floor retail space. All units will include balconies, and the complex will include an outdoor fitness space, pet spa, and remote work area that includes coworking and private offices. The rooftop deck will feature a soaking pool, lounge seating, and grilling stations.
Wynwood’s growth that has attracted niche retailers and the more recent influx of office product made it an attractive area for Fifield, explained Sarina Sorrentino, vice president of finance and development at Fifield, in an emailed statement.
“We love the character of the Wynwood area, with its public art and walkability, and saw characteristics that made it poised for rapid growth,” she said.
Sorrentino added that the firm’s expansion into Miami was driven by market fundamentals that included “supply and demand imbalances, strong demographics, population growth and job drivers,” she said.
The Chicago developer’s first Miami project, the 267-unit Avida Aventura, is expected to open in June about 10 miles farther north along the Florida East Coast railway corridor next to Brightline’s Aventura station.
