Amid rising prices in Wynwood, panel debates trendy neighborhood’s future

Maximum lease rates rose to $100 psf in 2016, average building prices jumped to $1,000 psf.

During the four-year period between 2012 and 2016, land prices in Wynwood more than quintupled and lease rates more than doubled, raising the question: Is the trendy arts and entertainment district growing too fast for its own good?
The answer is no, if investors and property owners can strike a balance between making immense profits with nurturing creative retail establishments and affordable housing so the neighborhood can retain its edgy character, according to a panel of developers discussing the 2017 Wynwood market report presented by the Commercial Industrial Association of South Florida, or CIASF, on Friday.

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Photo: Wynwood Walls (Credit: Phillip Pessar)

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