Former MLB Star Alex Guerrero Ventures Into Miami Real Estate With 41-Story Wynwood Norte Tower
Cuban MLB Veteran Plans Landmark Mixed-Income Development in Emerging Miami Neighborhood
Former Los Angeles Dodgers infielder Alex Guerrero is making significant moves in Miami's real estate market, proposing an ambitious 41-story residential tower in the rapidly developing Wynwood Norte district. The project, aptly named Wynwood Tower, will deliver 234 residential units to an area experiencing increasing investment interest and development activity.
AG Wyn, the development company managed by Guerrero and business partner Ruben Rodriguez, has submitted plans to construct the tower on a 0.6-acre assemblage located between Northwest Third and Fifth avenues, just south of Northwest 37th Street. The specific addresses included in the development site are 330, 334, 344, and 356 Northwest 37th Street, according to documents filed with city officials earlier this month.
Live Local Act Integration Creates Housing Opportunities Across Income Levels
The Wynwood Tower development strategically utilizes Florida's 2023 Live Local Act, which offers significant incentives to developers who incorporate affordable housing components into their projects. In compliance with the legislation's requirements, 40% of the tower's units (94 apartments) will be designated for households earning no more than 120% of the area median income (AMI).
This integration of below-market-rate units addresses a critical housing need in Miami-Dade County, where the current AMI stands at $87,200 annually. The affordability component comes at a crucial time when housing costs continue to outpace income growth throughout South Florida.
The residential offering will include a diverse mix of unit types, ranging from efficient studios to spacious three-bedroom apartments. The development will also feature one exclusive four-bedroom penthouse. Among the workforce-priced units, the majority will be studios, with 20 one-bedroom apartments also available at below-market rates.
Architectural Design Celebrates Cultural Heritage and Athletic Connections
Rendering images reveal a striking architectural approach that embraces vibrant aesthetics characteristic of the greater Wynwood area. The tower's façade incorporates a dynamic palette featuring varying shades of red, yellow, and green, creating a visual landmark within the neighborhood skyline.
In a personal touch that honors Guerrero's athletic background, one side of the building will showcase a dramatic mural depicting a baseball player in action. This artistic element not only celebrates the developer's professional sports career but also contributes to Wynwood's established reputation as a haven for large-scale urban art and creative expression.
The project was initially scheduled for review by Miami's Urban Development Review Committee on Wednesday, but the meeting was canceled. The next opportunity for project evaluation is set for April 23, where developers will present their vision to city officials.
Athletes Increasingly Pivot to Real Estate Development Across South Florida
Guerrero, who defected from Cuba in 2013 before signing with the Dodgers and later playing for Japan's Nippon Professional Baseball league with the Chunichi Dragons and Yomiuri Giants, represents a growing trend of professional athletes diversifying their investments through real estate development in South Florida.
The former infielder established personal ties to the region in 2014 when he purchased a five-bedroom mansion in Weston for $2.5 million. Now, his move into development signals a strategic business evolution beyond his athletic career.
This pattern of athlete-led development is emerging across the tri-county area. Former NFL player and Super Bowl champion Jonathan Vilma partnered with West Palm Beach Seventh Day Baptist Church in 2023 to propose a 102-unit affordable housing complex with an integrated church building in Palm Beach County.
Similarly, former MLB slugger Mo Vaughn proposed a 147-unit apartment building in Miami's Little Haiti neighborhood last year. Vaughn's project involves partnerships with Hyperion Group and key executives from his affordable housing firm, Omni America, though the company itself is not directly involved in the development.
Live Local Act Fuels Development Boom in Emerging Neighborhoods
Florida's Live Local Act, passed in 2023 and subsequently refined in 2024, has catalyzed development activity throughout Miami by providing significant incentives, including flexibility on zoning restrictions and property tax exemptions, in exchange for the inclusion of workforce and affordable housing components.
This legislation has sparked particular interest in Wynwood Norte, the district immediately north of Miami's established Wynwood Arts District. In addition to Guerrero's proposal, developer Cymbal DLT submitted plans last year for an ambitious 35-story, 598-unit Live Local apartment project at 3466 and 3470 North Miami Avenue within the same neighborhood.
These developments collectively signal a transformation for Wynwood Norte, historically a residential area that is now positioned to absorb significant density while maintaining affordability for a portion of its housing inventory.
Insights About Miami's Real Estate Development Landscape
How is the Live Local Act changing Miami's development landscape?
The legislation has become a powerful catalyst for mixed-income housing development by allowing projects to exceed local zoning restrictions when they include affordable components. This has unlocked development potential in previously underutilized areas while simultaneously addressing housing affordability challenges.
Why are professional athletes increasingly investing in real estate development?
Athletes recognize the value of diversifying their wealth beyond their playing careers. Real estate development offers both tangible assets and opportunities to create community impact, particularly when affordable housing components are included. The South Florida market specifically provides strong appreciation potential and tax advantages.
What makes Wynwood Norte attractive for new development?
This neighborhood benefits from proximity to the established Wynwood Arts District but offers larger land assemblages at relatively lower acquisition costs. Its location near major transportation corridors and downtown Miami positions it perfectly for residential intensification while still maintaining connections to Miami's cultural scene.
How do these developments impact existing neighborhood residents?
While new towers bring housing options across multiple price points, they also represent significant density increases in traditionally low-rise neighborhoods. The inclusion of workforce housing components helps mitigate displacement pressures, though community advocates continue to monitor gentrification impacts in these rapidly changing areas.
What challenges do these projects face before becoming reality?
Despite Live Local Act incentives, developers must still navigate Miami's complex approval process, secure construction financing in a challenging interest rate environment, and address infrastructure capacity concerns including traffic impacts and utility demands.
