Craig Robins talks details on Design District progress

Twenty more building to come in 2015

TRD MIAMI /
Dec.December 02, 2014 09:30 AM

Developer Craig Robins showed off the nearly finished first phase of the Design District’s $1.4 billion transformation into a hub for luxury brand retailers during a tour of the area Monday afternoon.

Robins told The Real Deal the partnership between his company, Dacra, and L Real Estate is on schedule to complete 15 new buildings by the end of the month.

“We’re going to be adding 20 more buildings in 2015,” Robins said. “We’re tackling this project in waves. We want to debut new experiences constantly.”

Bulgari, the tenant of a new structure with a glass-, gold- and silver-plated exterior at 3841 Northeast Second Avenue, already opened on Nov. 28. Signs on the windows of two nearby storefronts that feature facades designed by Japanese architect Sou Fujimoto announce that luxury watchmakers Jaeger-LeCoultre and Hublot are coming soon. Construction crews worked on the interior of an Aranda/Lasch-designed retail building on Northeast 39th Street and First avenue that will house Tom Ford and three other luxury brands.

Since Robins began redeveloping the Design District more than a year ago, land prices in the neighborhood have gone up dramatically and attracted New York developers to the area. The price per square foot hit $2,200 for one commercial transaction closed in November, according to Metro 1 Properties CEO Tony Cho.

And a development group led by New Yorkers Ayal Horovits, Isaac A. Gindi and Raymond Gindi bought the site of a church located two blocks away from the Design District for $12.5 million in November. They are planning a mixed-used project with 82 condo units, 100,000 square feet of commercial space and a community garden. The acquisition came on the heels of an equity deal that involved General Growth Properties and Ashkenazy Acquisition Corp. teaming up to acquire a 20-percent stake in the Design District’s redevelopment project. The companies paid $280 million to Miami Design District Associates, the partnership between Dacra and L Real Estate.


Related Articles

arrow_forward_ios
These real estate power players are involved in 2019’s juiciest lawsuits (Credit: Getty Images)

Here are South Florida’s juiciest lawsuits of 2019

Ugo Colombo and Craig Robins (Credit: iStock)

Judge tosses out Craig Robins’ claim that Ugo Colombo bribed juror in private jet case

David and Leila Centner and the Centner Academy (Credit: Getty Images, Google Maps)

Owners of new Miami Design District school hired mayor’s law firm to represent them in zoning appeal

CocoWalk at Coconut Grove

The Weekly Dish: Cote NYC heads to Miami, Sushi Garage opening at CocoWalk & more

Alex Karakhanian, Chaim Cahane, and 45 Northeast 41st Street

Investors under contract to buy Opportunity Zone property in the Design District

4136 North Miami Avenue and David and Leila Centner (Credit: Pintrest)

Centner Academy owners score approval to convert Buena Vista building into preschool

Miami Design District building allegedly lost $5M in value due to billboard ban: lawsuit

Miami Design District building allegedly lost $5M in value due to billboard ban: lawsuit

Ugo Colombo sues Craig Robins for defamation in ongoing legal battle

Ugo Colombo sues Craig Robins for defamation in ongoing legal battle

arrow_forward_ios
Loading...