Midtown, Wynwood and the Design District: all grown up?

Rendering of District 36, Tuesday’s panel and a rendering of Hyde Midtown
As the Design District, Midtown and Wynwood continue to evolve, the neighborhoods could replicate the synergy of Greenwich Village, Chelsea, the High Line and the Meatpacking District in Manhattan, according to some big-name developers.
“You can actually walk around here,” said Gil Dezer, who recently purchased a penthouse at Hyde Midtown, a project he is co-developing. “You see people living the life versus people just going shopping. That is what I wanted to see.”
Last night, the Dezer Development president joined a panel discussion on the interconnectivity between the Design District, Midtown and Wynwood. Held at the Hyde Midtown sales center at 3401 Northeast First Avenue, the group also featured Carlos Rosso, president of condo development for the Related Group; Michael Comras, CEO of the Comras Company; James Provencher, managing partner of Barry’s Bootcamp; and Ivette Day, sales and marketing director at Apeiro Kitchen & Bar.
According to Rosso, Midtown is the hub because it has the largest density of residents among the three neighborhoods. “I think [Midtown] is one of the safest neighborhoods, particularly for women,” Rosso said. “It’s one of the few neighborhoods where people can have pets, even big dogs.”
Related, which is co-developing Hyde Midtown with Dezer, is putting in a huge dog park, Rosso said. “There are another 2,000 units planned for Midtown,” he added. “Some are under construction now.”
Rosso and Provencher, whose fitness company just opened a location at 3252 Northeast First Court, said Midtown is also attracting New Yorkers who want to be close to the hip vibe of Wynwood and the affluent aesthetic of the Design District. “Twenty to 30 percent [of new clients] said they just recently moved down from New York,” Provencher said. “It’s a more professional crowd.”
Provencher said he got a sense of the interconnectivity between the three neighborhoods when Barry’s began building its space at the Shops at Midtown Miami in late 2014. “When we started construction and spending actual time [in Midtown] we realized how everything is close and makes everything into one cohesive neighborhood. It’s not just three separate microcosms.”
Comras said projects like District 36, an apartment and retail mix building being built on 36th Street next to I-95, will further unite Midtown and the Design District. “It’s a linkage project that is going to connect the Design District to Midtown,” Comras, who is leasing the retail space at District 36, said. “All three areas have been evolving on their own, but the beauty is the neighborhoods have been evolving together.”

Source: The Real Deal Miami

Related, Dezer score $115M construction loan for Hyde Midtown

From left: Jorge Perez of the Related Group, renderings of Hyde Midtown and developer Gil Dezer
The Related Group and Dezer Development just sealed a $114.7 million financing deal for their upcoming Hyde Midtown condo project in Miami.
The loan covers Hyde Midtown’s development site at 3401 Northeast 1st Avenue right in the heart of Midtown Miami. It was issued by an affiliate of Mack Real Estate Credit Strategies, a New York lending firm that’s tied to the Mack Real Estate Group.
Related and Dezer broke ground on Hyde in September and expect to wrap up work on the 60-story tower in the second quarter of 2018. It’s slated to bring 60 hotel rooms and 410 condos to the neighborhood.
A fourth quarter report from brokerage ISG World said sales at Hyde stood at 65 percent by the end of 2015. The project launched sales in 2014.
Hyde Midtown’s amenities will include a pool deck, spa and fitness facilities, plus event and meeting spaces. Units at the building range in price from the mid $300,000s to $2 million.

Source: The Real Deal Miami