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Posts Tagged ‘Miami Beach investments’

South Beach ACE project

South Beach ACE project

After a few years of non-construction in residential and mixed-used projects, retail and office inventory has been going down in many key areas of Miami-Miami Beach. There is now so much going on and so many urban and suburban developments taking place or in the pipeline that I have decided to break them down into a series of posts. Each part will be presenting a new project which will be transforming the area forever.

PART 1 presents the new Miami Beach Convention Center project, which I wrote about not too long ago. This is the one making the news right now as one of the final bidders, South Beach ACE, just won the competition . Also, the project has been raising some vivid reactions in a few layers of the community. South Beach ACE, who gathers architects Dan Tishman, who is behind the One World Trade Center in New York, Rem Koolhaas, Dutch architect and professor in Architecture and Design at the graduate school of Harvard University and local developer Robert Wennett, who is behind the garage and retail stores at 1111 Lincoln Road. The ambitious 52 acre, over $1 billion development will redevelop the convention center as well a create a hotel, parks, parking garage and possibly new residential and retail spaces. The controversy surrounding the project partly lies on the fact that some Miami Beach residents, politicians and activists are questioning the fact that the City of Miami Beach would be leasing the land where the project will be built to South Beach ACE, leaving the new landlord with a lot of power to decide on the land use. A referendum will be taking place on November 5. If new retail spaces are created, they will add competition to the current Lincoln Road stores, which already hosts some big names such as Apple, BCBG Max Azria, Desigual, H&M, Forever 21 and should welcome a ZARA flagship store in the upcoming months. Also, the new residential units would add freshly built condos to a neighborhood where most of the homes are Art Deco apartments and houses built between the Thirties and the Fifties.

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