Genesis Capital Provides $49M Construction Loan for Wynwood Multifamily Project

Evolve Companies has secured $48.5 million in construction financing to build Evolve Wynwood 35, a new 141-unit mid-rise apartment in the Wynwood submarket just north of  Downtown Miami. 

Genesis Capital provided the construction debt, while Northmarq’s Chris Hammel arranged the transaction. The South Florida Business Journal first reported news of the financing.  

Construction is expected to be completed in 2028. 

“This will be an exciting 141-unit project with tremendous visibility from Interstate 95 and Interstate 195,” said Hammel. 

Located at 535 Northwest 35th Street in Miami’s Wynwood neighborhood — an arts and entertainment district just off Biscayne Bay — Evolve Wynwood 35 is set to rise eight stories and feature studios to two-bedroom apartments. 

Amenities at the building will include a resort-style pool, outdoor kitchens, coworking spaces, a gym and yoga studio, a dog park and pet spa, and on-site garage parking for residents.  

Brian Pascus can be reached at bpascus@commercialobserver.com.