Miami Design District Expanding

The Miami Design District is continuing to add to its heady mix of star architect-designed buildings, public art installations and luxury and contemporary retail, with the addition of food from chefs Joël Robuchon and Jean-Georges Vongerichten. Phase three of the Miami Design District will largely be completed by August 2016, bringing the number of stores to 100. A condominium and hotel are slated to open in 2017. The district is owned by Miami Design District Associates, a partnership between Dacra and L Real Estate, a global real estate development and investment fund. General Growth Properties and Ashkenazy Acquisition Corp. last fall took a 20 percent stake in the district, which boasts retailers such as Marni and Maison Martin Margiela. According to Craig Robins, founder and owner of Dacra, the partners are investing “several-hundred million dollars” in the third phase of the development. The total price tag of the Design District will be $2 billion when complete. “We finished the first two phases and they look pretty spectacular,” Robins said. “Basically, phase three will double what’s here. There’s a perception of the Design District as being amazing and looking cool, but this is only the first half.” Robins said phase three is the final phase —

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