Miami’s
cachet as an international shopping Mecca is taking a quantum leap
forward.
Macy’s
and Bloomingdale’s unveiled plans to open new stores at Miami
Worldcenter, the outsized, mixed-use project planned for downtown’s
Park West district, which is west of Biscayne Boulevard across from
AmericanAirlines Arena.
Macy’s
Inc., the parent of both retailing heavyweights, expects by late 2016
to open a 195,000-square-foot Macy’s and a 120,000-square-foot
Bloomingdale’s, anchoring three levels of retail comprising another
425,000 square feet.
The
Forbes Company and Taubman Centers Inc., two prominent regional mall
developers, formed a joint venture to develop the urban mall on a
10-acre site it is acquiring from Miami Worldcenter Associates.
Miami
Worldcenter Associates, headed by Nitin Motwani and Art Falcone, is
the master developer overseeing the redevelopment of some 27 acres of
prime downtown property that currently includes parking lots, night
clubs, an art house and a tech accelerator. Earlier development
efforts had stalled during the real estate crash, but the venture has
since gained momentum.
The
working name for the shopping center is The Mall at Miami
Worldcenter.
“Our
hopes are to break ground in late 2014,” said Nathan Forbes,
managing partner of Forbes, based in Southfield, Mich.
Source:
sfgate
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