Bal Harbour Shops Braces for Fabulous Upgrade

Bal Harbour Shops Braces for Fabulous Upgrade

Oct 16, 2019 October 16, 2019

Back when Stanley Whitman first opened Bal Harbour Shops in 1965 on the former site of a World War II army barracks, outfitting it with the most upscale brands of the day, nobody expected it to survive the competition served up by the bevy or air-conditioned malls that were springing up everywhere at the time. 

But, precisely due to its unique feel, its open-air design that takes full advantage of the breezes sweeping across the Atlantic Ocean and Biscayne Bay, as well as the natural beauty of the subtropical setting, Bal Harbour shops was destined to become one of the most elite shopping destinations in the United States.

Bal Harbour Shop Expansion Project

Architect rendering of expansion project

Bal Harbour Shops Expansion Project 

Currently, Whitman Family Development is planning a 350,000-square-foot expansion project at Bal Harbour Shops that is due to be completed in 2023. The firm’s legal intermediary, Holliday Fenoglio Fowler, L.P. announced in July of 2019 that they secured financing in the amount of $550 million for the expansion project on behalf of Whitman Family Development.

Bal Harbour Shops Expansion - New recreational park

Bal Harbour Shops Expansion - Architect new recreational park rendering

Barneys New York Flagship Coming Soon

The expansion will allow Bal Harbour Shops to create space for the many luxury brands that are on a waiting list for a lease at this elite retail center. In fact, the expansion will bring in an additional 70 brands, including the first Barneys New York flagship store located in the Southeast. This will be the first expansion/renovation project at Bal Harbour Shops since an addition was made to the building in 1982 that included the addition of the second story to accommodate additional vendors.

Bal Harbour Expansion Project - Barneys New York (Rendering)

Barneys New York - Architect rendering

A Brief History of Bal Harbour Shops

Bal Harbour Shops blossomed in large part due to Whitman’s success in attracting such anchor brands as Neiman Marcus, which opened their first specialty store outside their Texas homeland in 1971 at Bal Harbour Shops. Upon seeing the success of the Neiman Marcus store, Saks Fifth Avenue opened its Bal Harbour flagship store in 1976, becoming the mall’s second anchor store. Today, both brands stand as central pillars of the Bal Harbour Shops experience.

Bal Harbour Shops soon began to attract famed European merchants, and Whitman’s carefully curated collection of stores quickly set the bar for the industry, leading the nation in annual sales productivity. In September 2012, Shopping Centers Today magazine ranked Bal Harbour Shops as "the world’s most productive" shopping center, in terms of sales per square foot. Generating some $2,555 in sales-per-square-foot at the time, Bal Harbour Shops was pulling in seven times the industry average of $451-per-square-foot as estimated by the International Council of Shopping Centers. 

Sales at Bal Harbour Shops have continued to escalate regularly over the years. Today, Bal Harbour Shops houses 100 of the world’s most renowned designer boutiques and gourmet eateries, and is owned and managed by Whitman Family Development, direct heirs of Stanley Whitman, who passed away in 2017.

Bal Harbour Shops Opens in 1965 with 30 Retailers in One Level Fashion Center

Bal Harbour Shops Opens in 1965 with 30 Retailers in One Level Fashion Center. Photo courtesy of BalHarbourShops.com

Bal Harbour History Timeline

  • 1965: Stanley Whitman opens Bal Harbour Shops with 30 Retailers in One Level Fashion Center
  • 1971: Neiman Marcus Opens Flagship store at Bal Harbour Shops
  • 1976: Saks Fifth Avenue Opens Flagship Store at Bal Harbour Shops
  • 1982: First expansion and renovation project consisted of the addition of the 2nd Floor.
  • 2012: Bal Harbour Shops ranked “the world’s most productive” shopping center by Shopping Centers Today magazine published by the International Council of Shopping Centers (ICSC)
  • 2015: Bal Harbour Shops celebrates its 50th Anniversary
  • 2017: Stanley Whitman dies and the company passes to Whitman Family Development
  • 2019: Expansion project is approved and moves forward
  • 2023: Scheduled date of completion for Bal Harbour Shops expansion project

As fabulous as Bal Harbour Shops is already, we can only expect it to become even more glorious as it grows. It will be exciting to see the completed expansion in a few short years.



Photos courtesy of Bal Harbour Shops Vision
Contact Us
Sep Niakan
Broker / Team Lead
(305) 697-7667
sep@blackbookproperties.com
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

ORA by Casa Tua: Soulful, New Construction Residential Condo in Brickell, Miami
Real Estate News ORA by Casa Tua: Soulful, New Construction Residential Condo in Brickell, Miami
You know the restaurant… full of life, love, memories, all shared over incredible food. Now,  meet ORA by Casa Tua and live with soul. ORA by Casa Tua is boutique Miami living as you have never seen before: a nature sanctuary artfully designed around shared experiences to honor simplicity and deepen human connection, nestled in the heart of Miami’s Brickell neighborhood.  ORA, with lifestyle curation by Casa Tua and developed by Fortune International Group, responsible for The Ritz Carlton Residences and St. Regis Residences in Sunny Isles Beach, is set to open a revolutionary lifestyle-driven project for creators, founders, and doers seeking an inspired urban sanctuary in Miami’s financial district, Brickell.  Envisioned to create distinct experiences expressed through exquisite design, nature, music, art, and cuisine, as well as an abundance of amenities and programming curated for ORA owners, the boutique high-rise will be alive with upbeat, soulful and social energy, creating the...
You Won’t Recognize Hollywood Beach after Related Group’s Two New Condo Projects
Real Estate News You Won’t Recognize Hollywood Beach after Related Group’s Two New Condo Projects
With Related Group’s latest purchase of the Diplomat Beach Resort and its public-private partnership on the Hollywood Arts Residences mega-project, the quaint little town of Hollywood Beach, Florida, is in for a major revitalization with almost 1,000 new residential/condo-hotel units planned.   Hollywood Beach, perched right between Miami and Fort Lauderdale, has long been known as one of the coziest stretches of oceanfront for a vacation and for those wanting to find a charmed life close to the beach, close to Miami, but away from the city’s traffic. This charming little slice of South Florida is known for its one-of-a-kind Broadwalk (also named one of ‘America's Best Beach Boardwalks’ by Travel+Leisure Magazine), an old world downtown where art fairs still happen every month, a quaint little Arts circle and market, lovely golf courses, and plenty of oceanfront hotels and resorts for a serene lifestyle – but, all that’s about to level up! Read on to find out what one of the...
Video: The Most Dog-Friendly Neighborhoods in Miami
Lifestyle Video: The Most Dog-Friendly Neighborhoods in Miami
Looking for the most pet-friendly neighborhoods in Miami for Dogs? Then check out these great Miami neighborhoods that are sure to put a wag in the tail of your favorite fur-baby or four-legged friend.  Miami is a super pet-friendly city, and has become the number one big city in the U.S. for dog owners. Its abundance of dog friendly amenities, like large dog parks, walkable areas, and proximity to the beach, all make Miami a highly desirable place to live if you have a dog. But, what specific neighborhoods in Miami are the best for dog owners and that also have dog-friendly condos? Watch our exclusive video for a closer look the most dog-friendly neighborhoods in Miami and their dog friendly condos, too!   — What are the Most Pet-Friendly Neighborhoods in Miami for Dogs?  Coconut Grove: The Most Dog-Friendly Parks Blanche Park, Coconut Grove. Photo credit: Sarah P. What makes Coconut Grove the top neighborhood in Miami for dogs is that the gorgeous tree-lined streets are extremely...
February 2023: Miami’s New Development and Pre-Construction Condo News
Preconstruction February 2023: Miami’s New Development and Pre-Construction Condo News
For Miami’s new development and pre-construction condo segment, February was a month of more project news – new launches, construction milestones, and exciting announcements. Sales launched for JMH Development’s Twenty-Nine Indian Creek in Miami Beach, North Bay Village’s 7918 West Drive celebrated its groundbreaking, and Ugo Colombo and Valerio Morabito’s Onda Residences topped off in Bay Harbor Islands. Further, developer Newgard announced that it would bring New York’s acclaimed restaurant, Avra Estiatorio to Lofty Brickell. PMG, Lion Development Group, and Marc Roberts announced plans for their latest Airbnb-ready offering in Miami’s Park West neighborhood. Aria Reserve completed its foundation pour. And, three more new condo projects were proposed. Read on for more details on these and other updates in our monthly Miami new construction and pre-construction condo news roundup for February 2023:   Table of Contents - Miami Condo Pre-Construction Market  Sales...
Video: Mortgage Rates are Dropping - Should You Buy or Wait?
Video Blog Video: Mortgage Rates are Dropping - Should You Buy or Wait?
Mortgage rates are in flux. So when should you buy that Miami property?  The answer: Now!  Mortgage rates fell again last week to a new low, with the average 30-year mortgage rate dropping to 6.57%.  Yes, mortgage rates are still higher than last year, but how do these mortgage rates affect you now as a home buyer or seller? Check out this video with real estate expert Sep Niakan to find out what falling mortgage rates mean for buyers, sellers, and Miami’s housing market in general:   — What makes Miami more immune to higher interest rates or changes in Mortgage Rates? Recently, mortgage rates fell to 6.13% which is a big drop from a few months ago. Rates this low boost both homebuyer demand and home builder sentiment.  Interestingly, Miami has been less impacted by higher interest rates than other markets. Why? Well, there are a few reasons that make Miami more immune to higher interest rates.  First, Miami has one of the highest percentages of cash transactions for real...
West Eleventh Residences: Downtown Miami’s Latest Luxury Short-Term Rental Condo
Real Estate News West Eleventh Residences: Downtown Miami’s Latest Luxury Short-Term Rental Condo
West Eleventh Residences by PMG, Lion Development Group, and Marc Roberts Companies, will be a luxurious take on Downtown Miami living. Expanding their footprint in the Miami Worldcenter location of Downtown, just next to the Brightline train station, this lifestyle-driven condo project is the first centrally managed luxury Miami condo tower allowing owners to host freely on Airbnb, 365-days-a-year, making it ideal for a luxury short-term rental investment. Envisioned to offer luxurious sophistication and advanced functionality to residents and short-term rental guests, this project features access to a 30,000-square-foot tri-level experiential entertainment and culinary hall featuring a spectacular art installation, all in the heart of Downtown Miami. And the modern, universal design elements of these fully finished and fully furnished residences make them highly desirable to rent out on a short-term basis via the partnership with Airbnb for guests to experience Miami and its...