Miami Social Diary
Faena Miami Beach + Miami’s Design District A Billion Here & A Billion There
If traffic snarls along Alton Road don’t provide enough memorable moments, then you might try navigating the multi-block chaos during the construction of the Miami Beach version of the Faena District, where following last December’s annual Art Basel fiesta on Miami Beach, Bloomberg reported Lloyd Blankfein had inked a deal for one of its multi-million dollar residences. Having completed the mixed-use Faena District in Buenos Aires, former Argentine fashion designer turned real estate developer Allan Faena and Ukrainian-American uber-billionaire Leonard “Len” Blavatnik are recreating a starchitect sequel, called a Collaboratory, to five-blocks of oceanfront at Collins Avenue and 34th Street, having gained approvals for building/re-building more than 1 million square feet for a myriad of uses, including residential, commercial, a cultural facility, and a much-needed parking garage.
![]() | ![]() | Helen Mar. 1937. Robert E. Collins, architect. The Helen Mar's classic historical profile that once defined the area may soon appear to be anomalous. |
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The Collaboratory’s formula for success includes noted Australians, designer Catherine Martin and Great Gatsby director Baz Luhrmann, crafting the designs for the hotel’s interiors and the staff’s uniforms; Rem Koolhaas has formulated the cultural arts facility (“Coming Soon”); and Norman Foster’s firm Foster + Partners is credited with the residences.
Meanwhile, across the Julia Tuttle Causeway at ever-evolving Miami’s Design District, another billion-dollar luxe development is underway, targeting the world’s One Percent. Restricted by Bal Harbour Shops’ lease agreements, Paris-based L Real Estate equity fund, representing the development of LVMH luxury brands headed by Michael Burke and Bernard Arnault, formed Miami Design District Associates with Craig Robins, CEO of Dacra Holdings, said to own 700,000-square-feet of existing commercial space, making for 70 % of the district’s existing buildings. What LVMH created at Shanghai’s L’Avenue Mall and Hong Kong, it hopes to recreate in Midtown Miami. With hard hats, tool belts, and construction gloves the district’s current must-have accessories, beginning in Fall 2014 more than 50 luxury fashion brands, among them, Givenchy, Miu Miu, Tom Ford, Marc Jacobs, Valentino, Fendi, Dolce & Gabbana, Giorgio Armani, Tiffany & Co., Tod’s, Panerai, Tag Heur, Ermenegildo Zegna, and Van Cleef & Arpels will open in the redeveloped district, joining Louis Vuitton, Hermès, Berluti, Emilio Pucci, Maison Martin Margiela, Prada, Rick Owens, Celine, and CIE Financiére Richemont’s Vacheron Constantin and Cartier, who already have existing boutiques.
“Miami upstart stealing high-end stores from Bal Harbour,” read the headline at the Sarasota Herald-Tribune, when the LVMH-Dacra deal was first announced. In an interview, Robins described Bal Harbour, the nation’s leading luxury shopping destination, as a “remote, inaccessible, beautiful mall.” In response, Matthew Whitman Lazenby, grandson of Bal Harbour Shops’ founder Stanley Whitman and president and chief executive of Whitman Family Development, defends his family’s radius clause as a prevailing industry standard. With a planned expansion not set to open until 2017, the Whitmans have reportedly entered into a partnership to develop Brickell CityCentre with more than 500,000 sq. ft. of retail space in Miami's financial district, only a few blocks south of the Design District.
Stay tuned as the battle of the billionaire brands heats up in the fall.
Here is a look at my Saturday expedition to Faena MiamiBeach and the Design District. |