Bank OZK will provide a $38 million construction loan for the Wynwood Haus, a 224-unit building located in Miami, Florida. The 20-story building, which will feature ground floor commercial space, will be home to studio, one-bedroom, and two-bedroom units ranging from approximately 400 to 1,000 square feet.
The development is a collaboration between TSG, Lineaire Group, and Bridge Investment Group. Groundbreaking took place in late June; the development is currently slated to be completed in early 2023.
The Wynwood Haus is located in one of Miami’s 23 opportunity zones, many of which are in close proximity to Biscayne Bay and waterfront property. This development will be located just a few miles east of Miami International Airport.
Other developers are active in the Wynwood area as well: Rilea Group recently purchased a site to be used for a multifamily property; Property Markets Group is building the Society Wynwood apartment complex; and Related Group is planning 12-story mixed use buildings.