Rendering of 12-story, 236-unit Foyer Wynwood multifamily building to rise along North Miami Avenue from 24th to 25th streets.

Miami's Wynwood Arts District has been on overdrive with residential development and isn't slowing, as another mid-rise apartment building that will add 236 units just got approval.

Foyer Wynwood will have co-living and micro-units as well as innovative offerings like roommate pairing using a compatibility algorithm.

This is at least the fifth apartment building completed, underway or proposed in the neighborhood since last year and speaks to its evolution as a residential area after years of being known solely as an arts district with edgy bars and restaurants.

East End Capital, based in New York, is developing Foyer along the west side of North Miami Avenue between 24th and 25th streets.

The building will be 375,000 square feet and 12 stories, or in character with the rest of the mid-rise buildings in Wynwood.

Micro-units generally are in the 400-square-foot range, although they tend to be bigger, and co-living allows residents to rent a room but share a kitchen and other common areas. Co-living residents share a multi-bedroom unit but sign individual leases, meaning each resident is only responsible for his or her portion of the rent and not liable if the roommate fails to pay.

Foyer will include furnished micro-units and co-living bedrooms and offer studios as well as one and two bedrooms.

It's being marketed as slightly more affordable since the monthly rent for a co-living bedroom inclusive of the furniture, electricity and Wi-Fi will be roughly $1,500. That's less than the average $1,702 monthly rent for the average 891-square-foot unit in Miami as reported by multifamily research group RentCafé, based in Santa Barbara, California.

Foyer's amenities will cater to the creative community that has sprung in Wynwood, with art studios as well as podcast and green screen studios. They will be built in a way that prompts collaboration.

There also will be a gym, juice and coffee bar, a pool deck and entertainment space.

This won't be East End's only Foyer building as it's actually a multifamily brand the developer is launching

Jonathon Yormak, founder of East End Capital and the Foyer division, highlighted the affordability aspect of the communities.

"Foyer aims to redefine the multifamily landscape by incorporating affordable co-living and micro-units into the traditional apartment mix. Foyer communities will be priced and designed for renters of all ages, in all walks of life," he said in a news release. "They will be low on cost, high on community and incredibly easy on convenience."

This isn't East End's first venture in Wynwood as it was a co-developer of 289-unit Wynwood 25 with Related Group, one of Miami's biggest development firms. The project was completed last year.

Related Group also completed a 165-unit The Bradley, a multifamily building last year. PMG, with offices in New York and Miami, is to build an eight-story tower with more than 220 units at 2431 Nw Second Ave. by 2022.

Other planned buildings are the 189-unit Wynwood Green by Lennar, and the 241-unit Wynwood Square.

The Miami Urban Development Review Board on Tuesday approved the Foyer project.