We are excited to share that Wynwood's first luxury lifestyle hotel and co-working office complex, "Triumph Wynwood", has entered its design and planning stages and is slated to open in the next few years. F+B Hospitality Leasing is responsible for bringing both parties together for the joint venture.
South Florida Business Journal writes that "the 125-room hotel is planned at 31-51 N.W. 29th St. and being developed by Triumph Wynwood, a joint venture between Alex Karakhanian of LNDMRK Development and Wynwood Investment Partners, a private New York investment group.
The entire project will span more than 300,000 square feet and include 60,000 square feet of Class A office space and 20,000 square feet of ground-level retail."
The hotel, which does not yet have a name or brand, is expected to include expansive outdoor terraces, a rooftop pool and bar, a spa, multiple food and beverage outlets on the lower tower floors along with meeting and open work spaces.
The Real Deal also reported that "Karakhanian, of Lndmrk Development, said the group is in the design phase and plans to break ground in late 2019" and that "the project could cost between $50 million and $75 million to develop. He paid about $9.41 million to assemble the site between 2016 and 2018."
Wynwood has been transitioning in recent years from an industrial district to a popular tourist destination filled with art galleries, restaurants and retail. The city has approved rezoning in much of the neighborhood to increase heights and allow more residential development.
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