Catherine Rodstein Blog   Real Estate Blog

Miami's burgeoning array of improvements and mind blowing New Developments are still in full force. This week Miami commissioners signed off on a 99 year lease on the city's bay front land with the Bayside operators, General Growth Properties, and future Skyrise developer Jeff Berkowitz. They unanimously approved the expansion and refurbishment of the bayfront retail and entertainment center, Bayside Marketplace. In addition, Berkowitz was approved to build Skyrise, a $400 million hairpin-shaped 1,ooo foot tower just beyond Bayside's bayfront promenade. Skyrise is comprised of three observation decks, a fine dining restaurant, ballroom, nightclub, a store, and three theme park style rides.

The cut of gross revenue to the city from both Skyrise and Bayside could be as high as $293 million by 2060. In order to build the tower and improve Bayside, voters need to approve the referendum on Aug 26 in order to commence.

Bayside is steps from Downtown Miami's American Airlines Arena, Perez Art Museum, and numerous upscale condominiums including Vizcayne, 900 Biscayne Bay, One Thousand Museum, 50 Biscayne, and Ten Museum Park to name a few.

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Updated: Thursday, May 23, 2024

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