By Balazs Szekely, Associate Editor
The district west of Downtown Miami along the Miami River will soon see new large-scale development activity.
Preconstruction work began on the$300 million River Landing Shops & Residences mixed-use project in early 2015. Located at 1500 N.W. North River Drive, the site is on the north bank of the Miami River within walking distance of the Civic Center area that is home to the second largest health district in the nation. Despite being one of South Florida’s largest employment hubs, the area is said to be underserved in retail and apartments.
The 8.14-acre property on the Miami River will include 426,000 square feet of vertical retail space and several waterfront restaurants. It is developed by River Landing Development L.L.C.–an affiliate of Coral Gables-based real estate investment, management, and advisory firm Hellinger Penabad Cos.–and designed by ADD Inc. The Shopping Center Group is in charge of the marketing.
River Landing will feature from 20,000 to 60,000 square feet of space available to seven national and regional anchor tenants, and an additional 140,000 leasable square feet will be allocated for regional and local retailers and restaurants. Plans also call for two residential towers with 475 market-rate apartments, more than 2,200 parking spaces and a lineal riverfront park. The developers are currently busy with the demolition of the old structure on the site. Once finished, the project will encompass nearly 2 million square feet in total.
Construction of the retail component is anticipated to finish in summer 2017, and the residential units are slated for completion in spring 2018.
Image source: riverlandingmiami.com
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