Construction Update: Shops at Fifth & Alton
September 4, 2007
Image: Active construction site for the Shops at 5th and Alton
The Shops at 5th and Alton, which will include 185,000 sq. ft. of vertical retail space and a 943 space parking garage at the 5th street entrance to South Beach, has begun to see activity on its site. U.S. Century Bank is financing development for the Berkowitz Development Group and Potamkin family. The Shops at 5th and Alton will serve as a development anchor for the West Avenue Corridor and SoFi, and further fill-in retail activity along 5th Street.
This project is also significant for shifting economic activity towards the west side of South Beach as well as integrating a novel vertical-retail approach that has worked quite well at Dadeland Station. Publix has signed a letter of intent for space in the new facility.
Entry Filed under: Biz Buzz, Commercial Developments, Miami Beach: SoFi, Miami Beach: South Beach. .
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1.
James Wilkins | September 5, 2007 at 5:12 pm
Ive said this many times, but, I feel that this project and Vitri are crucial to solidify Miami Beach as the most desirable destination in the country. The delay of Vitri is very unfortunate. I feel very strongly about the power of perception, everyone entering South beach seeing empty lots has an unconcious negative experience.
2.
Xavier Zayas-Bazan | September 6, 2007 at 1:34 pm
That’s true. I’ve been observing Vitri carefully and really haven’t seen any progress as of late. What really irks me is that similarly scaled and conceptualized loft developments have gone up with little problem throughout the Beach, but Vitri, despite Shaya’s backing and a highly conspicuous location, has stalled. The only thing worse than an empty lot is one with a partially constructed foundation left abandoned.
3.
12 | September 6, 2007 at 6:37 pm
Vitri won’t be built.
And it would be nice to see a Costco on the beach, but I dont see it happening.
4.
Xavier Zayas-Bazan | September 6, 2007 at 7:40 pm
I hope you’re wrong about Vitiri but the signs aren’t encouraging.There’ll be a Wal Mar ton the Beach before there’s a Costco.
5.
James Wilkins | September 8, 2007 at 3:48 am
How can you confirm that Vitri won’t be built?
I have heard of it possibly becoming a hotel or offices.
6.
Haris | September 10, 2007 at 8:51 pm
Any update on Vitri?
7.
Xavier Zayas-Bazan | September 10, 2007 at 8:58 pm
The foundation work remains frozen as, according to multiple media sources, Shaya and Lev iron out their business differences.
8.
Johnny Maldonado | September 27, 2007 at 4:16 am
Anyone have an idea of the completion date for the Fith & Alton project?
9.
Lawyer | November 5, 2007 at 8:37 pm
Vitri has been canceled. No further plans for that site.