Hotel/Mixed Use Development | Wynwood

Highlights:

• Miami 21 for up tp 30% parking reduction for properties located within a 1/2 mile of a TOD or 1/4 mile of a transit corridor
• The site provides developers with the potential to develop residential, commercial, or hospitality driven projects
• Currently, the site allows for the development of up to 8 stories (with bonuses)
• Uses may include hotel, residential, restaurant, or office
• Potential tenant/lease of the development
• Potential land assemblage to develop 120 key hotel
• LOI with Krymwood Hotel for a 120 hotel rooms. Commencing on the Opening Date, an amount equal to $16,750 multiplied by the actual number 120 guest rooms = $2M a Year for 20 Year and will be corporate guarantee by the holding company.

Description:

Introducing a prime investment opportunity located at 175 Northwest 27th Street in vibrant Miami, FL. This property, zoned T5-O, offers developers the potential to create dynamic residential, commercial, or hospitality-driven projects, with the current allowance for up to 8 stories (with bonuses). Boasting versatile uses including hotel, residential, restaurant, and office spaces, this site presents numerous possibilities for tenant/lease opportunities. It also offers the potential for lucrative land assemblage to accommodate a 120-key hotel, solidified by an LOI with Krymwood Hotel. Take advantage of Miami 21 parking reductions and corporate guarantee for the development's success. This is an exceptional opportunity for forward-thinking investors seeking diverse and promising development potential.

Wynwood is a neighborhood in Miami, Florida. Wynwood is known for being an entertainment district, with artwork, restaurants, breweries, clothing stores, and dance venues, among other retail options. Formerly an industrial district, the area is now known for the murals that cover the walls of many of the buildings and many of the sidewalks. It is north of Downtown Miami and Overtown, and adjacent to Edgewater. Wynwood has two major sub-districts, the Wynwood Art District in northern Wynwood, and the Wynwood Fashion District along West 5th Avenue.

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