Feeds:
Posts
Comments

Posts Tagged ‘Miami Design District’

Photo This one BCC

Brickell City Centre

There are so many urban development projects currently going on in Miami that it’s almost impossible to be perfectly updated on each one of them. Large mixed-use developments are being built in various areas, from Doral to Downtown Miami and Bal Harbour, The Miami Design District and Miami Beach. Miami will become one of the most vibrant shopping destinations of the world, a sort of New York   ( Manhattan ), Dubai or Shanghai by the ocean with a sparkling Latino twist. Its identity is clearly evolving from a vacation destination to a more sophisticated and confident international metropolis. Brickell City Centre, developed by Hong-Kong-based Swire properties, is a $1.05 billion/11-acre project, which is currently under construction. It includes 700 Brickell and various blocks just West of Brickell, between SW 7th and SW 8th Streets. Its design should really change the way part of the Brickell area looks, with its see-through roof connecting the various sections of the development, from retail and restaurants to residential, from residential to office spaces. The Whitman Family Development, which owns and manages The Bal Harbour Shops, has signed an agreement with Swire Properties to manage the retail component of the project and recently announced that Saks Fifth Avenue will open a 107,000 sf anchor store there. The first residential tower, Reach, which is planned to be completed at the end of 2015, is said to have sold 70 % of its residences. The second residential building will start selling by the end of the year.

Miami WorldCenter, another major development, which will start construction during the first semester of 2015, in Downtown Miami, West of Biscayne Boulevard and Bayside Marketplace and just East of the future All Aboard Florida or Miami Central train station. The 10-block development will feature residential units, thousands of parking spaces and 765,000 sf of retail, including Macy’s and Bloomingdale’s. Miami WorldCenter is now launching Paramount, its first residential tower.

Expansion of The Miami Design District

Expansion of The Miami Design District

The Miami Design District is being expanded and has been going through major construction over the past two years, especially West of NE 2nd Avenue, between 38th and 40th streets. Miami-based developer Craig Robins will increase its retail space by approximately 30%, offering additional art, dining and luxury shopping experiences with boutiques such as Hermes, Louis Vuitton, Bulgari, Celine, Prada, Cartier and more as well as a few art galeries and furniture showrooms. Also, residential towers such as Baltus House and a large parking are being built. The Miami Design District aims at becoming the point of convergence of art, entertainment and luxury shopping in Miami.

Therefore, wherever you go around these neighborhoods, the value of office, retail and residential real estate is going-up. Its population of residents and businessmen/business women is expanding too.

Advertisements

Read Full Post »

Under construction shopping center at the Design District

Under construction shopping center at the Design District

This urban development project has been announced over a year ago, when the City of Miami approved the plan proposed by South Florida developer and art collector Craig Robins to change the land use and rezone four blocks in the Miami Design District. The plan offers to create a $312 million luxury shopping and entertainment destination, created as a partnership between Craig Robins and a subsidiary of the French luxury group LVMH and will feature stores for 50 luxury brands, as well as restaurants, a pedestrian ( and shaded, thanks to the future implementation of oak trees ) promenade as well as hundreds of parking spaces. As many of you know, there are already a few big names already there, such as Dior, Luis Vuitton, Prada, Hermes, Pucci, Cartier etc….which are temporary stores, which have been set up before the final ones open in the new shopping center. This project will be dramatically changing the area, and The Bal Harbour Shops are no longer the exclusive spot to purchase luxury brand clothing and accessories. Also retail, office and residential real estate values have been soaring in the neighborhood, and developers such as The Related Group and Jorge Perez are offering new projects in the neighboring streets, and possibly a hotel. Triple net retail prices per square foot and per year have gone from $50 three years ago to over $150.

 

Future 7th floor pool at Baltus House

Future 7th floor pool at Baltus House

Baltus House, a new residential project, developed by The Related Group, will be sitting a few minutes away  from the Miami Design District, on Biscayne Boulevard. The new construction residential building will feature 167 apartments and will be 17 floor high. The pool and fitness center will be located on the 7th floor and the top floor will include a roof top and two jacuzzis. Launching prices are very affordable, considering what is happening in the area as launching prices range from $245,000 to $570,00 for condos going from studios to two bedrooms with living room. Reservations and contracts are being signed now, groundbreaking is scheduled for October 2013 and estimated completion in March 2015. Of course, this building will have its special touch of art, considering that there are many art galleries in the area. Developer and avid art collector Jorge Perez has chosen Venezuelan artist Jaime Gili, based in London and represented by the Saatchi Gallery, and Spanish artist Lluis Barba, from Barcelona and represented by the Dean Project Gallery, based in New York and Miami Beach, to create commissioned artwork for the common areas and lobby of the new construction project. Do not hesitate to contact me if you are interested in receiving more information about Baltus House.

Read Full Post »

artist RETNA-designed facade of new Louis Vuitton boutique in the Design District ( photo from http://www.freshnessmag.com )

A few months ago, I wrote about the evolution of the Miami Design District, progressively turning into the new luxury mecca of South Florida. The new retailers who are going to change the spirit of the area are now progressively appearing. CARTIER opened a few weeks ago. LOUIS VUITTON opened is boutique earlier this week. The luxury retailer commissioned L.A. based street artist RETNA to create the facade of its temporary store in the Miami Design District. Over the past decade, graffiti art has gained recognition in the art world. It has been exhibited in major contemporary art museums and street artists have been collaborating with fashion and interior designers to revamp their collections. The LOUIS VUITTON boutique will be moving to a permanent location in the area once the new shopping center, created in partnership between Miami-based developer Craig Robins and the LVMH group opens, sometime in 2014. Until then, nobody knows how pedestrian traffic will change and how these developments will impact the lifestyle of Miami residents and visitors.

Another luxury retailer, certainly less known to most Floridians, will also open in a temporary space, next to Michael’s Genuine Food and Wine restaurant, early December, just in time for Art Basel Miami Beach : AGNONA. This exotic sounding name is the name of an elegant Italian women ready-to-wear brand, that was bought by ZEGNA in the late 90s. The subtle sophistication of this line should be an interesting addition to the area.

Agnona clothing ( Photo from http://www.veraclasse.it )

Since the announcement of the transformation of the Miami Design District was officially made a few months ago, retail space and residential real estate prices have jumped. The neighboring condos located in Midtown 2 and Midtown 4 now sell at approximately $360 a square foot and asking retail space lease prices go for $100-150 per sf per year ( vs. $50 over a year ago ).

Read Full Post »

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

Read Full Post »

Miami’s Design District is well-known for its high-end furniture and interior design showrooms, art galleries, sophisticated restaurants such as Michael’s Genuine Food and Drink, Senora Martinez, and trendy fashion boutiques such as German fashion designer Thomas Maier, French shoe designer Christian Louboutin or Italian fashion designer Marni. The area is actually going through an interesting remodeling project which may be phasing throughout the upcoming months. Indeed, Miami real estate developer Craig Robbins has recently partnered with French luxury goods LVMH group ( Louis Vuitton-Moet Hennessy ) to redesign some sections of the neighborhood and host a Louis Vuitton and a Christian Dior boutiques, which have both closed their Bal Harbour Shops venues a couple of months ago. These luxury fashion brands will obviously attract other high-end stores, entertainment venues and more traffic in the area. Property leases and purchase prices have already gone up since the partnership news was officially announced.

However, Miami’s Design District also hosts a variety of different entertainment venues, which are artist-run alternative exhibition spaces. The exhibition spaces are usually an extension of the artists work studios. One one side, there is a space where the artist(s) work(s), and on the other side or on another level, there is an exhibition space where the artist exhibits work from him/her or other artists he/she admires. These alternative spaces are usually located in transitional areas such as Little Havana, North Miami, however most of them are currently located in the Design District. These artist exhibition spaces may change location as the area is being redesigned, however, for now, four of these alternative spaces are featured a few minutes away from each other.

The most famous is probably Locust Projects, located at 155 NE 38th, suite 100, and founded in 1999 by artists Westen Charles, Cooper, and Elizabteth Withstandley. This is a purely exhibition space, which is not combining artist studios. Next to Locust Projects sits Dimensions Variable; run by artists Adler Guerrier and husband-and-wife artists Frances Trombly and Leyden Rodriguez-Casanova. The Buena Vista Building, located on NE Second Avenue and 39th Street is another space and home to The Bas Fisher Invitational, created in 2004 by artists Naomi Fisher and Hernan Bas and now managed by Naomi Fisher and her companion Jim Drain. Swampspace is located on 3821 NE 1st Court and is a smaller venue which hosts artist Oliver Sanchez’s studio.

These alternative exhibition spaces are not aimed at offering new art gallery spaces or competing with traditional galleries. There are more a way for artists to show their work or the work of the artists they appreciate in a more spontaneous and informal setting.

For further information on these artist exhibition spaces, please visit or email : www.locustprojects.org,  dv@dimensionsvariable.netwww.basfisherinvitational.com,  swampstyle@gmail.com

Read Full Post »

%d bloggers like this: