The Real Deal Miami

Village at Gulfstream Park announces 32 tenants

By Jennifer LeClaire | February 26, 2009 11:58AM

Cleveland-based Forest City Commercial Development today announced the first 13 restaurants, 17 retailers and two nightclubs for The Village at Gulfstream Park complex in Hallandale.

A 1 million-square-foot project on the campus of Gulfstream Park Racetrack & Casino, The Village at Gulfstream Park is set to open February 11, 2010. The complex was originally scheduled to open in fall 2007, but construction delays pushed the project back.

“The Village at Gulfstream Park is an exciting development for the residents of Hallandale Beach,” said City of Hallandale Beach Mayor Joy Cooper. “We have long envisioned this exciting and vibrant development in our community and look forward to its opening.”

When completed, the project will include 70 stores in more than 410,000 square feet of space, as well signature restaurants, outdoor cafés, entertainment, office and future residential spaces.

Texas de Brazil, Crate and Barrel, Pottery Barn, Häagen-Dazs, Williams-Sonoma, Greenhouse Nightclub and Lamborghini Café are among the 32 tenants announced today, as the Miami Herald also reported. The company declined to disclose whether or not lease concessions were part of the deals.

Forest City chose Hallandale for several reasons. More than 700,000 people live within a 15-minute driving distance, the racetrack and casino offers built-in foot traffic, and the city’s dining options are limited.

Hallandale also borders the affluent Aventura market and give residents a compliment to the Aventura Mall, according to Harriet Edwards, vice president of retail leasing at Forest City.

“Aventura is a proven market and Hallandale is its neighbor,” Edwards said. “The racing season is typically during a time where it’s slow for retailers. So our location will generate traffic for our retailers and restaurants.”

The center includes more than 80,000 square feet of upper-level office space. But Forest City has not broken ground on the residential side of the project. The master plan calls for 1, 500 residential units.

Edwards declined to comment on when the residential construction would begin on the $244.7 million mixed-use project. Future plans also call for a 2,500-seat cinema, a 500-room hotel and 225 affordable housing units. The project is being developed over a 15-year period.

That’s the long-term story. Short-term, Steve Geller, a recently retired senator whose district included Hallandale and whose legal practice focuses on gambling issues, isn’t optimistic about the prospects for The Village at Gulfstream Park.

“The gaming industry is down and the retail industry is down. That’s a double whammy for a project like this,” said Geller, head of the Gaming Law practice at Greenspoon Marder in Fort Lauderdale. “Gulfstream has a lot of competition from the Hard Rock and the Seminole reservation. It’s a perfect storm and The Village at Gulfstream Park is in the middle of it.”