A new residential building, Society Wynwood in Miami, is under construction after developers Greybrook Realty Partners and PMG, a national development, investment and asset management firm, received a $ 142.3 million construction loan. This 10-story project will be located at 2431 2nd Avenue NW in the Wynwood Arts District. Funding for the project was provided by Square Mile Capital and Pacific Western Bank. Scheduled for completion in the spring of 2023, Society Wynwood will include 50,210 square meters of commercial space between the basement and the roof and 318 rental units. It will offer a mix of traditional units with “rent by bedroom” options and efficient layouts.
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“We are delighted to expand our relationship with these leading lenders, in addition to our partners in Greybrook, to create a first-class living and entertainment destination in the most famous Wynwood neighborhood. Wynwood and Miami Market is close to us as a team of passionate locals. Thanks to the incredible success we’ve achieved at Society Biscayne, scheduled to open in early 2022 in downtown Miami, and at Society Las Olas in Fort Lauderdale, Society Wynwood will become the third social housing development in South Florida under our rapidly expanding national brand, Society Living. … Society Wynwood will provide affordable housing that reflects the vibrant energy and positive attitude of the surrounding areas and community experiences, ”said PMG Managing Partner Ryan Sheer.
Amenities will include a huge poolside deck, collaboration lab, state-of-the-art fitness studio and gym, yoga lawn, entertainment rooms, food and beverage manufacturing, smart bag lockers, app-based keys, integrated retail space, and much more. Society Living’s existing projects include the Society Biscayne in downtown Miami; Society Las Olas in downtown Fort Lauderdale, Florida; Society Orlando under construction in downtown Orlando; and the Denver Society.
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