The Real Deal Miami

Bayside owner hires architecture firm to renovate and expand

General Growth Properties hired Zyscovish Architects for project

January 12, 2015 12:45PM

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Bayside Marketplace

Bayside Marketplace

The owner of Bayside hired a Miami-based architecture firm to reportedly “reimagine” the downtown Miami marketplace.

General Growth Properties hired Zyscovich Architects to renovate outdoor common areas and waterfront plazas, expand the two-level parking garage and add retail space along Biscayne Boulevard, the South Florida Business Journal reported.

General Growth boosted its $79 million mortgage to $250 million in December 2014 for a renovation and expansion. Bayside has 228,000 square feet of retail and 1,300 parking spaces.

Back in June 2014, Miami commissioners approved a 99-year lease agreement with Bayside Marketplace and SkyRise Miami developer Jeffrey Berkowitz when General Growth committed to at least $27 million in upgrades to the mall. Berkowitz is set to pay rent to Bayside and contribute more than $1 million annually to the city, which is allowing the developer to sublease 1.9 acres behind Bayside. [South Florida Business Journal]Katherine Kallergis

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