Real Estate - MAY 18, 2017

Whitman Family Development wins approval for $400m enhancement plan of Bal Harbour Shops

by Andrea Waitrovich

The Bal Harbour Village Council has approved the $400 million enhancement plan for Bal Harbour Shops in Bal Harbour, an incorporated village near Miami Beach.

Bal Harbour Shops is an upscale, 450,000-square-foot, open-air shopping center.

Whitman Family Development will add 340,387 square feet of retail space, nearly doubling its footprint. The upgraded center will feature the first Barneys New York flagship store in the Southeast, upgrades to longtime anchor tenant Neiman Marcus and new dining options, including Freds at Barneys. Also, the project includes a new plaza at its main entrance along Collins Avenue.

The enhancement plan also includes more than $100 million in public benefits, including a new waterfront community park, and infrastructure improvements.

Bal Harbour Shops’ existing retail tenants include Chanel, Dolce & Gabbana, Giorgio Armani, Gucci, Jimmy Choo, Louis Vuitton, Prada, Ralph Lauren, Rolex, Saks Fifth Avenue, Tom Ford and Versace. The center’s dining options include Carpaccio, Laduree, Le Zoo, Makoto, The Grill at Bal Harbour and Zodiac.

The enhancement project will begin later this year with major construction taking place in phases over the following five to six years.

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