Jenny Bernell’s Clearline Real Estate has secured an $89 million construction loan to develop a 310-unit apartment building in Miami’s Wynwood neighborhood. The project, called 2000 Wynwood, will rise 12 stories on a 1.4-acre site at 2000 and 2010 North Miami Avenue and 2021 and 2025 Northwest Miami Court.
According to public records, Bank OZK is providing the $65.3 million senior loan for the development. A source said PGIM Real Estate is supplying a $24 million mezzanine loan.
Designed by Leo Daly Architects, the project will feature only market-rate apartments along with 12,500 square feet of retail space. Clearline acquired the development site in 2022 for $19.1 million.
Bernell launched Clearline in 2021 after working for about seven years at Kushner Companies as executive vice president of development. The firm operates out of both Miami and New York.
Clearline’s other work in Miami includes the Excel Miami Apartments, a 24-story building with 427 units currently under construction in the Arts & Entertainment District. In November, Clearline obtained a $94.5 million construction loan for that project at 1550 Northeast Miami Place.
Wynwood has seen increased interest from multifamily developers recently as firms pursue new projects in the area. This year saw Oak Row Equities, L&L Holding Company, Shorenstein and Claure Group complete Wynwood Plaza—a mixed-use property featuring a 12-story apartment building with more than 500 units.
Developers are also taking advantage of Florida’s Live Local Act, which permits larger buildings if they include workforce or affordable housing units—even when local zoning would otherwise restrict height or density. Several proposed Live Local projects in Wynwood aim to exceed the current maximum allowed height of twelve stories; among them are Brooklyn-based LivWrk’s planned three-tower complex totaling over 1,300 units and former Los Angeles Dodgers player Alex Guerrero’s proposal for a tower north of Wynwood.
“Wynwood has become a magnet for multifamily developers in recent years,” according to industry sources.
Developers say that many proposed Live Local Act projects could reshape the skyline by surpassing existing neighborhood limits on building heights.
