Related Group and W5 Group have teamed up on a 63-unit co-living residence with 217 fully furnished suites in Miami’s Wynwood neighborhood. Preleasing will start in November and the nine-story mixed-use building is slated for completion in January.
Located at 51 NW 28th St., the development will be the first co-living project in Miami’s trendy Wynwood section known for its restaurants, bars, boutiques, art galleries, studios and exhibition spaces. The building, which includes more than 3,900 square feet of ground-floor retail space, was designed by renowned architecture firm Arquitectonica with interiors by Miami-based designer Michael Wolk.
The co-living concept aims to provide high-quality housing at a reasonable price point in a city where rising housing costs are challenging particularly for young professionals and artists, Jon Paul Perez, Related Group president, said in a prepared statement.
Raphael Sidelsky, chief investment officer at W5 Group, stated W5 Group conceived of and helped design the i5 Wynwood units based on its experience with micro-units, student housing, multifamily and co-living projects in other urban environments. Earlier this year, W5 Group was part of a joint venture with Landmark Properties and Peninsula U.S. Real Estate that renovated and added townhome units at The Cloisters, a 71-unit student housing community near the University of Miami.
Rents will begin at $1,895 per suite, each with a private bathroom and a shared living room, dining room and kitchen. The apartments will have three-bedroom/three-bathroom and four-bedroom/four bathroom layouts. They are fully furnished with queen-sized beds, writing desks, multiple shelving units, dining tables and chairs, couches, coffee tables, entertainment consoles and flat-screen TVs.
Amenities include shared spaces such as an entertainment center with a premium sound system and comfortable seating for watching sports and movies as well as a game room with a ping pong table and lounge seating. The ground-floor retail space will surround a 6,600-square-foot shaded central courtyard. The rooftop level will include a resort-style pool surrounded by lounge chairs, cabanas, picnic tables, sunshades, a grilling area and outdoor games. Additional rooftop amenities include a fitness center, including indoor and outdoor gym, and an outdoor turf-covered fitness lawn. The rooftop level will also feature the coworking lounge with work booths, private rooms and meeting spaces.
The property has a lobby concierge and mailroom with smart lockers. There will be a property-wide security system and on-site designated resident parking.
In keeping with the artistic vibe of the Wynwood district, i5 Wynwood will have an assortment of museum-quality art from the Jorge M. Perez Contemporary Art Collection, including a site-specific mural by artist Jing Wei. Murals will surround the building on the east, south and west elevations.
Related’s Miami developments
Related Group currently has more than 70 projects in varying phases of development including WNWD21, a mixed-use tower also located in Wynwood. A joint venture between Related Group and Rockpoint, the development will feature two 12-story towers with 304 rental units, 63,000 square feet of office and more than 18,000 square feet of retail space. The partners broke ground in December 2022 and expect to complete the project in late 2024.
In September 2022, Related Urban Development Group, in a partnership with Miami-Dade County and Miami-Dade Public Schools, broke ground on The Gallery at West Brickell, a 29-story mixed-income development with 465 units in the West Brickell neighborhood of downtown Miami. The project is slated for completion in late 2025.
Also in Miami, Related is teaming with ROVR Development and BH Group to develop District 225, a 343-unit luxury condominium high-rise at 225 N. Miami Ave. in downtown Miami. The 37-story building will also include more than 1,700 square feet of ground-floor retail.
