NoMad Residences Wynwood has recently secured construction financing and installed cranes at the site.
Earlier this month, the developers announced they had secured $141.5 million in construction financing. This includes a $51.5 million mezzanine loan from Related Fund Management, the investment management arm of New York’s Related Companies, and a $90 million senior construction loan from Kennedy Wilson, a global real estate investment company.
Over 80% of the 329 planned residences are now under contract.
The nine-story building's groundbreaking ceremony took place in October 2023.
The project is being developed in partnership with NoMad Hotels and its parent company, Sydell Group. Owners will be allowed to rent their units on a short-term basis without restrictions. The units will be delivered furnished, with an on-site management team available for check-in and check-out services.
Casa Tua Cucina will anchor the ground floor space, and a rooftop restaurant and bar, The NoMad Bar, will be led by James Beard Award winner Leo Robitschek.
Arquitectonica is the architect for the project.
Completion is expected in 2025.
The project is being developed by Related Group and partner Tricap, with Lndmrk Development also involved as a partner.
