Quaint And Pricey, Bal Harbour, Surfside, Bay Harbor Islands Offer Upscale Living
Cross over the causeway from North Miami and visitors enter a world of high-end shopping, quiet neighborhoods and classy restaurants.
It’s all courtesy of developers who have a vision for preserving and upgrading neighborhoods that are natural candidates for waterfront luxury lifestyles.
In Bal Harbour, Whitman Family Development envisions a $400 million-plus renovation and expansion of the well-known Bal Harbour Shops. Renovations include a new entrance, wider sidewalks, a new canopy, landscaping and new exterior walls, accfordinbg to The Real Deal. Zyscovich Architects is the lead designer. Upgrades include the addition of Barneys New York, and the expansion of high end retail operations including Neiman Marcus and Saks Fifth Avenue. A land swap requiring voter approval is slated for later this year to make way for the project.
In Bay Harbor Islands, Colombian developer Juan Carlos Gonzalez plans to build a seven-story luxury condo project. Bijou Bay Harbor, will have 41 units ranging from 900 square feet to 2,000 square feet. The project is the first South Florida condo development for Acierto Inmobiliario, a major Colombian developer. Groundbreaking is expected in early 2016. An American affiliate bought the property at 9521 E. Bay Harbor Drive for $8.5 million.
In Surfside, the publicly-traded Israeli company ASRR Capital, in a joint venture with a Turkish conglomerate, signed a contract to buy an oceanfront building in Surfside where a high end hotel and condo complex are envisioned. ASRR Capital and Istanbul-based Suzer Group have agreed to pay $40 million to 41 condo owners and the condo board, at 8955 Collins Avenue, according to The Real Deal.
The transaction involves a nearly one-acre property on the ocean, next to the Surf Club Four Seasons Hotel & Private Residences.
The investors reportedly want to build an 80-room hotel with a beach club that would be a continuation of the Surf Club Four Seasons. The building would have 150,000 square feet when completed over the next two-and-a-half years.
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