Wynwood Welcomes New Short-Term Rental Condo Tower
Wave Group Development partners with international investors to launch Duos Wynwood, an eight-story, 49-unit condominium allowing overnight rentals. The $500,000-plus project joins growing pipeline of short-term rental developments transforming Miami's arts district.
Wave Group Development has partnered with Vitrium Capital and Zambala Luxury Apartments to bring a new short-term rental condominium to Miami's rapidly evolving Wynwood arts district. The developers announced the launch of sales for Duos Wynwood, an eight-story tower containing 49 units at 335 Northwest 28th Street.
The project distinguishes itself by allowing unit owners to rent their properties for stays as brief as one night, catering to the growing demand for flexible accommodation options in the trendy neighborhood. Unit prices start at $500,000 and exceed $1 million for larger residences, with Brown Harris Stevens handling sales and marketing efforts.
Duos Wynwood will feature units ranging from 400 to 900 square feet, offering configurations from studios to two-bedroom layouts. Architecture firm MKDA designed the building's exterior while AvroKo crafted the interior spaces. Planned amenities include a fitness center, coffee bar, and co-working areas, along with 3,000 square feet of ground-floor retail space.
Construction is scheduled to commence later this year, with project completion targeted for 2028. The development team brings international expertise, with Wave Group principal Alessandro Ferretti based in Miami Beach, while Vitrium Capital operates under CEO Federico Gagliardo across offices in Miami, Paraguay, Uruguay, and Argentina. Milan-headquartered Zambala specializes in apartment-hotel platforms throughout Italy.
The Duos project enters a competitive market segment within Wynwood, where several developers are pursuing similar short-term rental strategies. PMG and Lndmrk Development recently launched sales for the 244-unit Frida Kahlo Wynwood Residences, branded after the famous Mexican artist and designed to accommodate short-term stays. The same development partnership previously introduced Twenty Sixth & 2nd Wynwood Residences, a 233-unit complex with comparable rental flexibility.
Rilea Group added to this trend in 2024 with the rock-themed Rider at Wynwood, planning 146 units that will also permit short-term rentals. This clustering of similar projects reflects investor confidence in Wynwood's appeal to both property buyers seeking rental income and travelers preferring alternatives to traditional hotels.
Wynwood's transformation from industrial warehouse district to cultural destination has attracted significant real estate investment over the past decade. The neighborhood's proximity to downtown Miami, combined with its vibrant street art scene and dining establishments, creates strong fundamentals for short-term rental properties. These developments represent a shift toward mixed-use residential concepts that blur traditional boundaries between permanent housing and hospitality services.
The growing pipeline of short-term rental projects suggests developers view regulatory environments as favorable for this property type, while buyers appear willing to pay premium prices for income-generating potential in desirable urban locations.
