Bayside Marketplace is ready for a revamp after 30-years as one of the only shopping centers in Downtown Miami. The project will be led by Zyscovich Architects, Ashkenazy Acquisition and General Growth Properties (GGP). GGP sold 49% of Bayside Marketplace in 2014 and Ashkenazy Acquisition took over management of the property earlier this year. Phase 1 of the redesign will include 140,850 SF of public outdoor space. Phase 2 will the result in a 2-level parking garage and added retail space on Biscayne Boulevard. Bayside Marketpalce has over 150 retail and dining/ entertainment tenants and GGP has a $250 million mortgage committed to renovation and expansion of the development. The proposed SkyRise Miami would be located in Bayside if ultimately constructed.