Mohawk at Wynwood Secures Record C-PACE Financing for Construction
A $150 million financing package for Mohawk at Wynwood marks the largest C-PACE-financed multifamily transaction in Florida, signaling continued investment in the area.
Record Financing for Wynwood Development
Rilea Group has secured a $150 million construction financing package for Mohawk at Wynwood, a 300-unit multifamily rental development located on NE 29th Street. The project is scheduled for completion in 2028.
According to Florida YIMBY, the financing includes $124.2 million in C-PACE financing provided by Nuveen Green Capital. The remaining portion of the package consists of a $25 million senior secured loan from ABANCA USA. Javier Herrera of Franklin Street arranged the financing for the project.
Project Scope and Retail
The development is designed by Deforma Studio and RADYCA, with Coastal Construction leading the construction. The project will offer a mix of studio, one-, two-, and three-bedroom residences, including units with private outdoor spaces. Additionally, the site will feature 30,000 square feet of retail space, of which approximately 33 percent has been sold.
Local Context for Nearby Investors
While Mohawk at Wynwood serves as a significant multifamily investment in the Wynwood area, nearby Brickell continues to see active demand for high-rise condo units. For those comparing investment opportunities or primary residences in the nearby urban core, several options remain available.
In the Brickell area, Bond on Brickell currently has 16 active listings, while Millecento has 19 active listings. Other nearby options include Vue At Brickell, Avenue 1060, 1010 Brickell, and Brickell Flatiron.
As of August 27, 2026, Brickell has 944 active condo listings with a median asking price of $859,000.
Sources Florida YIMBY: Rilea Group Secures $150M Construction Financing for Mohawk at Wynwood at NE 29th Street in Miami - Florida YIMBY — https://floridayimby.com/2026/01/rilea-group-secures-150m-construction-financing-for-mohawk-at-wynwood-at-50-ne-29th-street-in-miami.html
Frequently asked questions
When will Mohawk at Wynwood be completed?+
The project is scheduled for completion in 2028.
What types of residential units are included in the Mohawk at Wynwood development?+
The development will offer a mix of studio, one-, two-, and three-bedroom residences, including units with private outdoor spaces.
What retail space is included in the project?+
The site will feature 30,000 square feet of retail space, of which approximately 33 percent has been sold.
How much construction financing was secured for Mohawk at Wynwood?+
A $150 million construction financing package was secured, which includes $124.2 million in C-PACE financing and a $25 million senior secured loan.
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