Developers received an $18.72 million construction loan to build one of the first modern, Class A office buildings in Wynwood, according to South Florida Business Journals. 

Brooklyn’s RedSky Capital obtained the funds to build Cube Wynwd at 222 NW 24th St. near Panther Coffee, amid Wynwood’s sought-after arts, dining, and shopping scene. In contrast to the recent rejection of plans for a mixed-use space, office buildings appear to be the next step for the neighborhood: South Florida Business Journals reports that there are four other current developments with office space. Cube Wynwd is the third to begin construction.

Rendering courtesy of Cube Wynwd

The Arquitectonica-designed office building will feature 12 stories with 11,155 square feet of ground-floor retail space. Parking spaces are located at a nearby site and will have valet service. Current plans include a rooftop terrace and Wi-Fi in all common areas. In addition to announcing its loan, RedSky Capital also announced Cube’s first tenant: shared workspace firm Spaces. 

Spaces signed a 23,638-square-foot-lease, comprising 27 percent of the Cube’s total 76,356 square feet of office space. Spaces currently operates globally in countries like Belgium, Finland, Germany, and South Africa as well as across the United States in major hubs like San Francisco, Atlanta, and New York. This will be Spaces’ first outpost in Florida. 

Cube Wynwd is slated to open in fall 2018.

Rendering courtesy of Cube Wynwd