Ashkenazy Acquisition Corp. has taken over management of Bayside Marketplace after buying a 49 percent stake from General Growth Properties.
Work will begin next month on the first phase of renovations in October. Another phase of construction is in the design stage and will be revealed later.
ZYSCOVICH ARCHITECTS REVEALS FIRST LOOK OF
BAYSIDE MARKETPLACE’S FUTURE TRANSFORMATION
Bayside Marketplace fulfills its terms of lease with a $10 million dollar check presentation to the City of Miami.
MIAMI, FL – (SEPTEMBER 14, 2016) – Downtown Miami’s Bayside Marketplace, a popular indoor-outdoor festival marketplace that is often frequented by Miami locals and tourists, is about to get a well deserved facelift by Zyscovich Architects, one year shy of its 30th birthday.
The first phase of Bayside Marketplace renovation and addition project includes the renovation of the existing 140,850 SF outdoor common areas. The scope of work for the outdoor renovation includes a new paint scheme for the exterior of the buildings, piers, bulkheads and exposed structure, new flooring for the upper level, new stairs and railings, new restrooms, new tenant signage packages, lighting, landscaping, and graphics and wayfinding.
Built in 1987, this nearly 30 year old retail, restaurant and entertainment venue is just north of Bayfront Park, next to the American Airlines Arena and adjacent to Port of Miami Cruise Line Terminal.
“Bayside Marketplace is the waterfront retail anchor for Downtown Miami. We are thrilled to be at the ground floor of this transformational improvement project,” said Zyscovich Architects Founder and CEO, Bernard Zyscovich.
Honoring the terms of its lease negotiation with the City of Miami, earlier today, Bayside Marketplace LLC presented Miami Mayor Tomas Regalado with a check for $10 million dollars.
This monetary contribution, in addition to the physical improvements that will be coming forth in future phases, is its commitment to investing now in Bayside’s future.
“This is an exciting moment for Bayside Marketplace as it becomes a preferred location for the local downtown community,” said Pamela Wellers, Senior General Manager, Bayside Marketplace LLC.