Related-Block Capital Start Work on The Bradley Micro Project
The Bradley, located at 51 Northwest 26th St., will include 175 micro studio, one- and two-bedroom units ranging from 480 square feet to 1,000 square feet and will also feature approximately 32,000 square feet of commercial space.
MIAMI—The Related Group and Block Capital Group report that construction has begun on their The Bradley mixed-use micro apartment project in the Wynwood arts district here.
The two firms staged an official groundbreaking for the venture earlier this week and revealed that Kravitz Design—founded by Grammy-Award-winning artist, Lenny Kravitz— will serve as creative director for the development, providing what they term as “creative vision and direction” for all aspects of the public areas and amenity spaces. Global architecture firm Arquitectonica will lead the architectural designs for The Bradley.
The Bradley, located at 51 Northwest 26th St., will include 175 micro studio, one- and two-bedroom units ranging from 480 square feet to 1,000 square feet and will also feature approximately 32,000 square feet of commercial space. Approximately 80% of residences are projected to rent for under $2,000 per month. Completion is expected for late 2019.
Related and Block Capital are currently working on construction financing of more than $30 million, but at press time the transaction has not closed and offered no further comment.
“Wynwood is finally transitioning into a fully fledged neighborhood and in the process creating the need for high-quality residential developments. We’ve been anticipating this tipping point for some time, which has allowed us to not only be the first to market, but also given us the opportunity to truly establish what it means to be a Wynwood resident,” says Jon Paul Perez, VP for The Related Group.
“With a great partnership at every level of this project, The Bradley represents the beginning of a strong foundation in the neighborhood and a highlight of our long-term commitment to the Wynwood community and its development,” adds Martin Miculitzki, CEO of Block Capital Group.
The project is slated to offer a host of amenities including a second-story courtyard, a rooftop pool and amenity deck with city views, and fitness center. In-unit features include floor-to-ceiling windows, Italian kitchens and vanities, walk-in closets, under-mount single-basin kitchen sinks, stainless steel appliances, an in-unit washer and dryer and a keyless entry system. The property will also offer a collection of curated artworks and on-site murals meant to match the neighborhood’s artistic atmosphere.
Related has three additional properties in the Wynwood neighborhood including Wynwood 25, a 289-unit rental property under construction nearby; The Annex, a 50,000 square-foot office and retail development; and Wynwood 29, a 182-unit micro condo development. Related and New York City-based East End Capital are partnering on both the Wynwood 25 and The Annex developments. Related is developing Wynwood 29 with partner Metro 1 Development, according to published reports.