A Tale of Two Downtowns. In Miami, Modern <b>Retail</b> Meets Shuttered Storefronts | RetailTechPodcast

A Tale of Two Downtowns. In Miami, Modern Retail Meets Shuttered Storefronts

The under-construction Miami Worldcenter will have 300,000 square feet of retail mostly spread out across two promenades. "For me, when I look at downtown Miami, it's a tale of two cities," said Christos Costandinides, a director and South Florida market economist for CoStar Group in Miami. Because Mana owns a high portion of Flagler properties but still is working on making his vision come to fruition, that's pushing up overall downtown vacancies, said Mattingly, executive managing director, urban core, at Colliers International South Florida in Miami. Retail is reinventing to survive and his retail won't be run-of-the-mill, Mana warned. Mattingly said the first step of Mana's project will be a move by Miami International University of Art and Design from 1501 Biscayne Blvd. into Mana's 13-story building at 155 S. Miami Ave. Downtown Miami - roughly from Biscayne Bay west to Interstate 95 and from the Miami River north to Interstate 395 - experienced unbridled growth in the 1920s and then plenty of ups and downs through the rest of the 20th century. At the 27-acre Miami Worldcenter, 300,000 square feet of retail will be divided mainly between two high-street promenades. Read more