It will be another co-living building in Wynwood, behind the Property Markets Group and Greybrook Realty Partners project.
“As a Miami resident myself, I have witnessed Wynwood’s ascent with some interest,” said Ralph Winter, principal of W5 Group in the release. “However, as neighborhoods become more desirable, young people are often priced out. Co-living is an exciting proposition that offers tremendous value, enabling them to experience modern living in highly attractive units — all while meeting like-minded individuals and forming rewarding new bonds in coveted metropolitan areas.”
Co-living, or apartments building with micro units and shared amenities, including communal kitchens, is one way developers aim to resolve Miami’s growing affordability issue. Winter declined to share more details about the project, and Related executive vice president Jon Paul Pérez did not respond in time for publication. The W5 Group has offices in Switzerland, New York and Miami. It established its foothold in Miami Beach in 2009. The neighborhood continues to attract developers. A new hotel by the San Francisco-based Sonder team and an office building are also planned for Wynwood.