Brickell CityCentre project in downtown Miami

Swire Properties and Bal Harbour Shops announced they have agreed to an equity partnership to jointly develop the retail component of Brickell City Centre, currently under construction in the Brickell financial district of downtown Miami.

Swire’s CityCentre will include a 500,000-square-foot retail center as part of the 2.9 million-square-foot mixed-use project.

“We are honored to have Bal Harbour Shops join us as co-developers of the shopping at Brickell CityCentre,” said Stephen L. Owens, president of Swire Properties Inc.

Swire will remain the primary developer of the mixed-use project, while Bal Harbour will contribute equity and luxury retail expertise as co-developer of the retail component.

“We see Brickell CityCentre to be a strategic fit enabling us to meet the increasing demand for high-end brands by shoppers from all over town and, indeed, from all over the world,” said Matthew Whitman Lazenby, operating partner at Bal Harbour Shops, in a statement.

The $1.05 billion Brickell CityCentre broke ground in 2012.
The project is being developed in two phases, with the first phase, including all elements except for one office tower, scheduled for completion in 2015, followed by the final office tower in 2018.

It will also include two residential towers, a hotel, a wellness center, two office buildings and serviced (short or long-term furnished) apartments.
It is slated for completion in 2015.

source: therealdeal.com

 

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