Whitman Family Development revealed new renderings of upgrades to Bal Harbour Shops and Village on Tuesday.
The renovations and expansion, valued at $400 million, will include a proposed land swap between Bal Harbour Village and Whitman. Voter approval later this year is required for the land swap, according to a press release.
Whitman will fund the renovations, which will include a new entrance, wider sidewalks, a new canopy, landscaping and some new exterior walls. Bernard Zyscovich of Zyscovich Architects is the lead designer on the project.
The upgrades will also include the addition of Barneys New York, expansions of existing Neiman Marcus and Saks Fifth Avenue stores, and new luxury boutiques.
“The plan will do far more than enhance shopping and dining options for customers, it will also significantly reduce traffic on Collins Avenue and 96th Street, in addition to creating new green and open spaces for Village residents to enjoy,” Matthew Whitman Lazenby, Whitman president and CEO, said in a press release. “This will be the first time in more than 20 years that the Shops undergoes significant upgrades. We hope the community will allow us to make this investment for the future of the Shops and the Village.”
Whitman, which is partnering with Swire Properties and Simon on the retail component of Brickell City Centre, will also fund the construction of a new waterfront recreational park, according to the press release.