MIAMI, Fla. – The first mixed-use development of its kind, given its scale and scope, is filling a void in Miami, said the property’s developer.
River Landing, on the banks of the Miami River, features a mix of apartments, retail, office space and restaurants. It does arrive at an interesting time for retail. Industry analysts have said that the pandemic has accelerated on-going trends of decline and closures of brick and mortar stores amid a rise on online shopping.
On Aug. 24, Moody’s Investors Service said the U.S. and European retailers are “at least two years away” from recovering to 2019 profitability levels due to the impact of the pandemic, warning that U.S. mall store footprint is expected to shrink by over 20 percent and online sales growth is likely to approach 30 percent in five years.
But the developer of River Landing said that the environment where this project exists is different for many reasons.
“We’re somewhat insulated in the environment because here, in Miami’s Mid-River District, where we have the health and medical district, the courthouse system, it has been a desert of retail and needed more apartment living. It lacked restaurants,” Andrew Hellinger, Co-Principal of Urban-X Group in Miami, said.
Hellinger also talked about location, location, location.
"We’re standing next to the river banks. The idea of the project is to invite people to come from the urban core into our Grand Center – our pathway – out into the Grand River Walk and enjoy the environment.
The project dovetails with the Public River Walk being done, where 6.5 miles has already been constructed, and 3.5 miles is left to be done, for a total of a 10-mile district.
At River Landing, Hobby Lobby and Burlington Stores were scheduled to open Sept. 10, Publix Supermarkets is scheduled to open Thursday, Sept. 17, Chase Bank on Sept. 21, Five Below to open on Sept. 28, and AT&T on October 1. Ross Dress for Less and Planet Fitness will open later this fall.
“The pandemic slowed down our negotiations with retail restaurant tenants, but as we have a better handle on COVID, retailers now see demand on the rise and are optimistic about 2021,” Hellinger said. “They tell us they want to enter this submarket because they see a pent-up demand for retail and restaurants in one of Miami’s most densely populated areas. "
River Landing is one of the few retail, office, and residential developments that are accessible by boat in Miami.
The Mid River District Miami calls itself the Magic City’s newest creative and community hub.