Real estate development and investment firms TSG and Lineaire Group announced a partnership with a real estate investment and property management firm Bridge Investment Group to develop Wynwood Haus, a multifamily opportunity zone project in Wynwood, according to press release.
With more than $25 billion in assets under management, Bridge Investment Group is one of the largest opportunity zone funds in the nation. Bridge Investment Group targets development projects with high-quality partners in qualified opportunity zones with the goal of investing in sustainable neighborhoods. This partnership marks Bridge’s first investment in Miami under its Opportunity Zone Strategy.
“From day one, TSG and Lineaire sought to partner with a firm who would not only provide the necessary capital, but also bring deep-rooted expertise in multifamily development to help us position this project as one of the top-performing assets in South Florida,” said Diego Bonet, managing partner at Lineaire Group. “Bridge goes above and beyond with the talent of their team and their commitment to revitalizing neighborhoods by partnering with local firms is a testament to the success of the Opportunity Zone Program.”
The developers obtained $14 million in incentives from the Omni Community Redevelopment Agency (CRA) in Miami to support dedicating a portion of the apartments to workforce housing. The project architect is Miami firm Corwil Architects and interiors will be curated by Lineaire Designs (Lineaire Group’s sister company). Landscaping will be done by Enzo Enea — one of the world’s leading landscape architecture firms.
“Our presence in the Wynwood submarket of Miami supports our strategy of focusing on QOZs in high-growth U.S. markets, and we are pleased to be partnering with two knowledgeable firms to bring this incredible project to fruition,” said David Coelho, partner, chief strategy officer, and chief investment officer of Bridge Investment Group Opportunity Zones.
The triple threat partnership plans to holistically position Wynwood Haus as a leader in the Wynwood submarket, which TSG and Lineaire Group jointly acquired in 2019. The site at 1765 North Miami Ave. will feature approximately 5,500 square feet of ground-floor commercial space and thoughtfully-designed apartment residences ranging from studios to two-bedrooms, with oversized balconies, high-end finishes, and the latest in home technology. A rooftop featuring state-of-the-art amenities will be a focal point, offering a pool deck with dramatic views of the Miami skyline and Biscayne Bay, and gardens by Enzo Enea to introduce lushness to the outdoor spaces.
“Our goal is to identify a trend and develop in response to that specific need, while also integrating superior attributes,” added Camilo Lopez, CEO and managing partner of TSG. “This opportunity with Lineaire and Bridge allows our firm to collaborate to design Wynwood Haus with the highest caliber of offerings, from rooftop amenities not typically found in multifamily developments, to attractive unit mix and unobstructed views, all of which appeal to the area’s resident profile.”
Other amenities include a full-service gym complete with a sauna, steam room, and yoga studio, and a multipurpose coworking space. A designated transit-oriented development (TOD) project, the building will be within walking distance of the School Board Metromover station, providing seamless connectivity to Downtown Miami, Brickell, and Florida’s major metropolitan areas via the Brightline.
