MIAMI’S ARTISTIC HOT SPOT: The Wynwood Art District is a unique neighborhood in Miami’s urban core where countless industrial warehouses have been redeveloped and covered with the murals of world-renowned artists, such as Shepard Fairey. In fact, Wynwood is one of the largest open-air street art installations in the world and is home to more than 70+ art galleries, making it a natural extension of Art Basel. Wynwood is strategically located within close proximity to other neighborhoods, including Midtown, the Miami Design District, downtown Miami, and the MiMo District.
Location: Miami, Florida
January 4, 2019
GARNERING INTERNATIONAL ATTENTION:
•“Coolest Neighborhood in the World” – Vogue magazine, “America’s Best Hipster Neighborhood” – Forbes magazine
• As the world’s most recognized art event, Art Basel has attracted more than 500,000 visitors (in addition to the South Florida community) to satellite events hosted in Wynwood
• Second Saturdays is a monthly event formed by independent artists in order to promote their spaces and bring more customers into their business and the neighborhood in general; the highly popular event now attracts upwards of 3,000-5,000 per evening
• Newly looked to as Miami’s most sought-after real estate market, Wynwood has experienced phenomenal appreciation in real estate values over the past decade
• The insatiable demand of the last few years has served to more than double the rental rates in for retail, office and residential properties
• Average rental rates have gone from $20/SF to $60/SF over the past five years (25% CAGR) and rents continue to increase as international and national high fashion retailers, and cutting edge restaurants and nightlight continue to seek out space in the area
be home to an iconic Wynwood building, serving as the entryway to Miami's
first Woonerf, a Dutch street concept in which cars, bikes, and pedestrians
share the pavement on an equal footing.
warehouses and a parking lot. Not only is Wynwood one of the hottest
neighborhoods in the nation, this property sits on one of the most highly
trafficked streets in the area, NW 29th Street, with optimal zoning that allows
for mixed-use development of up to 12 stories.
micro units, making the development among the first Wynwood buildings to accommodate