Bal Harbour Shops developer plans expansion, invests in Brickell project

Miami /
Apr.April 17, 2013 01:00 PM

The family of Stanley Whitman, the developer of the Bal Harbour Shops, plans to expand the high-end mall outside of Miami and, separately, in January purchased an unspecified stake in the proposed 500,000-square-foot retail Brickell CityCentre project, the Wall Street Journal reported.

Americaribe and John Moriarty & Associates of Florida were awarded oversight in March of vertical construction at the Brickell CityCentre project, an appointment worth approximately $500 million, as previously reported.

The contractors Americaribe and Moriarty will operate as a joint venture and be responsible for completing the first phase of the $1.05 billion, 5.4 million-square-foot Brickell project, which is being developed by Swire Properties. Phase one will include a luxury shopping center, two residential towers, a hotel, a wellness center and Class A office space, all scheduled for completion by the fourth quarter of 2015.

A separate $100 million investment would expand Bal Harbour Shops to 650,000 square feet from 450,000, Matthew Whitman Lazenby, Whitman’s grandson and operating partner of Bal Harbour Shops, told the Journal. The iconic luxury shopping center, opened in 1965, boasts Fendi, Dolce & Gabbana and Ermenegildo Zegna, retailers that the Whitmans will also approach to consider opening locations in the proposed Brickell CityCentre project, the Journal said.

“We recognized this evolving demand from luxury tenants who now see the whole Miami area as worthy of more than one store,” the Journal quoted Lazenby as saying. [WSJ]Emily Schmall


Related Articles

arrow_forward_ios
Gables Club Tower II at 60 Edgewater Drive in Coral Gables (Condo.com, Getty)
Coral Gables closing tops Miami-Dade’s weekly condo sales
Coral Gables closing tops Miami-Dade’s weekly condo sales
Related's Stephen Ross, Swire Properties' Kieran Bowers and renderings of One Brickell City Centre (LinkedIn, Getty, Swire Properties and Related Companies)
Swire, Related score approval to widen planned Brickell office tower
Swire, Related score approval to widen planned Brickell office tower
From left: AMLI Residential’s Gregory Mutz; Terra’s David Martin; Grand Peaks Properties’ Luke Simpson; Related’s Jorge Perez; and Grand Peaks Properties' Nick Simpson (Getty Images, AMLI, Terra, Grand Peaks Properties, Related, Corwil Architects, Arquitectonica)
Development bonanza: Four Miami projects nab approval
Development bonanza: Four Miami projects nab approval
Jade Signature (Google Maps, Getty)
Jade Signature closing tops Miami-Dade’s weekly condo sales
Jade Signature closing tops Miami-Dade’s weekly condo sales
Grand Peaks Properties' Luke Simpson and Nick Simpson; renderings of the proposed Empire Brickell project (Corwil Architects, Grand Peaks Properties, Getty)
Grand Peaks proposes 26-story apartment tower in Brickell
Grand Peaks proposes 26-story apartment tower in Brickell
Regalia at 19575 Collins Avenue Sunny Isles Beach, Armani Residences at 18975 Collins Avenue Sunny Isles Beach, Asia Brickell Key at 900 Brickell Key Blvd, and Muse at 17141 Collins Avenue Sunny Isles Beach (Condo.com)
Miami-Dade’s August top condo sales show market emerging from summer slowdown
Miami-Dade’s August top condo sales show market emerging from summer slowdown
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Ken Griffin and Adrienne Arsht with 3031 Brickell Ave (Getty, Atlantic Council, Oak Studios)
Ken Griffin buyer of Adrienne Arsht’s $107M estate: sources
Ken Griffin buyer of Adrienne Arsht’s $107M estate: sources
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...