With $215 million funding, vast Wynwood Plaza gets moving

The owner-developer behind one of the largest mixed-use residential and office projects to rise in Wynwood, The Wynwood Plaza, held a groundbreaking after announcing it has secured major funding for the sweeping development.

The milestone was announced by L&L Holding Company and Oak Row Equities, along with project partner Shorenstein Properties and co-investor Claure Group.

The Wynwood Plaza will be a 1-million-square-foot mixed-use campus at 95 NW 29th St. in Miami’s Wynwood Arts District.

The groundbreaking comes on the heels of securing $215 million in construction financing from Bank OZK.

The Wynwood Plaza will encompass a residential building featuring 509 luxury rental apartments, an array of indoor and outdoor dining and shopping options, as well as a highly-amenitized office tower.

The developer says the project will be defined by a half-acre, lushly landscaped public plaza that will be the largest in Wynwood, and one of the largest in all of Miami.

Designed by James Corner Field Operations, the most iconic public-facing feature will be a pedestrian paseo adorned with large palm trees and a unique variety of local vegetation, said the developer.

“Recognizing the need to create something of lasting value to Miami, we assembled an all-star team capable of cultivating an environment that is every bit as unique, artistic and sophisticated as the colorful neighborhood that surrounds it,” said David Levinson of L&L Holding Co.

“We are thrilled to share this important moment with our partners Oak Row, Shorenstein, and Claure Group, as well as all of the local stakeholders who made this milestone possible,” said Robert Lapidus of L&L.

Erik Rutter and David Weitz, managing partners at Oak Row Equities, said the groundbreaking was a defining milestone for the firm.

“With expectations from commercial tenants and residents alike higher than ever for the places they choose to live and work, we are confident The Wynwood Plaza will stand out and raise the bar,” said Matt Knisely, managing director at Shorenstein Properties.

Two floors of the 12-story office tower are pre-leased.

Investment firm Claure Group, led by Marcelo Claure, will establish its headquarters in 25,400 square feet across the entire eighth floor. Weitz & Luxenberg, a nationwide law firm, will open its first Miami office in 18,000 square feet across the second floor.

The Wynwood Plaza’s office tower will encompass 266,000 square feet with floor plates that create light-filled workspaces and private terraces on each floor, said the developer.

The amenity package will feature four activated rooftops with a sports court, two outdoor pools with showers, a sauna, hot tub and cold plunge pool, and a glass atrium with co-working spaces, private phone rooms, and a game lounge. In addition, residents will have access to a modern fitness center.

The project is designed by architectural firm Gensler.

The Wynwood Plaza will also include 32,000 square feet of retail, including 6,600 square feet of outdoor dining.

Situated on a main pedestrian thoroughfare, the spaces will feature full glass storefronts.

To showcase and elevate the creativity of the surrounding community, L&L Holding and Oak Row Equities say they will collaborate with local artists to include curated works and installations throughout for residents and the community to enjoy.

Construction is underway. Completion is anticipated in 2025.