Rilea Group Breaks Ground on 300-Unit Mohawk at Wynwood

• Rilea Group has broken ground on Mohawk at Wynwood, a 300-unit mixed-use rental project at 50 NE 29th Street.
• The development will feature 12- and eight-story towers, approximately 29,000 square feet of retail, and a pedestrian paseo connecting NE 28th and 29th streets.
• Rilea secured a $150 million construction financing package, including $124.2 million from Nuveen Green Capital and $25 million from ABANCA USA.

What Rilea Is Building In Wynwood

Mohawk at Wynwood is moving into construction as Rilea Group expands its footprint along the rapidly developing NE 29th Street corridor.

The 300-unit multifamily project is designed as a gateway between Wynwood and Midtown Miami, with the two residential towers stepping down from 12 stories to eight stories toward NE 28th Street. Rilea's own project materials identify the development as roughly 247,000 square feet of leasable residential space, plus ground-floor retail and office space.

 

 

What The Retail Component Adds

The project includes approximately 29,000 square feet of ground-floor retail designed for restaurants, shops and flagship concepts.

Retail spaces will range from smaller storefronts to larger units, with the development incorporating wide sidewalks and an open-air cobblestone pedestrian passage connecting the surrounding streets.

Rilea says roughly one-third of the retail has already been placed under contract at approximately $1,800 per square foot, according to the developer's announcement.

 

 

What The Financing Says About The Project

Mohawk secured approximately $150 million in construction financing earlier this year. Nuveen Green Capital provided $124.2 million in C-PACE financing, while ABANCA USA provided a $25 million senior loan. Franklin Street's Javier Herrera arranged the financing.

The financing is significant for the project because Nuveen identifies the C-PACE component as a 27-year loansupporting the new development.

 

 

What The Development Team Is Bringing

Rilea Group is the developer, with Diego Ojeda serving as president. The company was founded by his father, Alan Ojeda, in 1981 and has developed approximately 10 million square feet across South Florida.

Deforma Studio is handling architecture, with Javier Barrera serving as principal. RADYCA, led by president Ramón Alonso, is designing the interiors, while Coastal Construction is the general contractor.

Mohawk is also part of a larger Rilea and Ciprés development push along 29th Street. Together with The Rider Residences and The Boxer, the projects are reshaping a major stretch between Wynwood, Midtown and the Miami Design District.

 

 

What The Amenities Include

The rental project will feature rooftop pools and lounges, a padel court, Turkish hammam, fitness center, coworking spaces, children's play areas and a rooftop dog park.

The development will also include an enclosed garage with more than 300 parking spaces, along with additional on-street parking. Completion is targeted for 2028.

For Miami landlords and investors, Mohawk represents another large-scale bet on Wynwood multifamily and retail, backed by institutional financing and positioned at one of the neighborhood's increasingly important development corridors.