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Posts Tagged ‘Christian Louboutin’

Louis Vuitton store in theThe Design District

Louis Vuitton store in The Miami Design District

I have written a few posts about the transformation of the Miami Design District, however as the area seems to be changing every month and I drove around there earlier today, I feel like writing about it again. A few luxury stores have opened over the past 4 months, including Cartier, Louis Vuitton, Dior Hommes, Prada, Celine and more of them are on the way. The ambitious mixed-use real estate project of Miami-based developer Craig Robins and French luxury mega group LVMH seems more tangible as a higher number of luxury boutiques are opening-up and cranes are demolishing old buildings to free some space for the future pedestrian shopping center. Thes boutiques currently occupy temporary spaces and will move to their permanent homes when the new shopping center opens, sometime in 2014. The Miami design District is changing at such a fast pace that my real estate company has even created an interactive map to show the boutiques, restaurants and art galleries not to be missed in the area : find out more HERE. Developer Asi Cymbal is also developing on a mixed-use project there that could be called “Museum Village”., located close to the De la Cruz Collection exhibition space on 41 St. Most of these future buildings , stores and offices will be designed by nationally or internationally known architects. Oak trees will be planted and promenade areas will be created to offer shade and attract pedestrians. Rolex will apparently open too and is said to have recently signed a lease for $175 a sf per year, when the price per sf per year was only $35 just 4-5 years ago. Hermes will open a sf 10,000 flagship store in the Fall 2013 and more glittery brands will appear such as Bulgari, or Pucci. Craig Robins is one of this city’s visionaries who started purchasing properties in the area 20 years ago and is now going to transform the way we see retail in South Florida.

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Upcoming Cartier boutique in the Miami Design District

A few months ago, I wrote about a few tenants leaving the Bal Harbour Shops to plan to open a boutique in Miami’s Design District. Miami Developer Craig Robins, who owns most of the properties located in the Design District, recently announced a $312 million mixed-use project to be created in partnership with luxury group LVMH to transform the area into Miami’s new luxury destination to open in 2014. The city still needs to approve the project, however, it is expected to feature a selection of boutiques from the LVMH group ( Louis Vuitton, Christian Dior, Pucci, Bulgari, …) as well as a few others such as Hermès ( in which LVMH holds approximately 20% shares ) and Cartier, a shaded pedestrian promenade, filled with trees, a mid-rise condominium, a hotel, cafes and restaurants. Even at a time when the announcement that new high-end boutiques were going to join current Design District tenants like Christian Louboutin and Marni was not official, commercial and residential real estate values rose significantly in the area, which development impacts areas stretching from the Design District to Midtown and Wynwood.

Midtown 2 and 4 buildings, full service condominiums, which are located just four blocks South of the Miami’s Design District are actually experiencing an increased interest from renters and buyers as a result of the news  about the Craig Robins‘ developement plan.The developer for Midtown still had units to sell from 2007, when the market collapsed. The last round of developer sales started in March. As of today, there are only 13 developer units left for sale at Midtown 2 and 300 new units at Midtown 4 are being launched. Prices are very accessible, starting in the low $300,000 for a one bedroom apartment up to over $ 1 million and the value of real estate in the area is showing a continuing potential for increase . The neighborhood has been attracting people who left Miami Beach for a more urban and bohemian living environment

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