Will High-Street Retail Work In Miami’s Urban Core? Check out Globe Street's Interview with Art Falcone
GlobeSt.com caught up with Art Falcone, co-founder and managing principal of Encore, to discuss high-street retail strategies at Worldcenter.
MIAMI—High-street retail has worked well on Las Olas Boulevard and Lincoln Road, but what about Downtown Miami? Worldcenter is bringing the concept to the urban core.
GlobeSt.com caught up with Art Falcone, co-founder and managing principal of Encore, to discuss high-street retail strategies at Worldcenter and get an update on Encore’s submarket strategy in part two of this exclusive interview. You can still read part one: Is This The Biggest Mixed-Use Development Challenge Today?
GlobeSt.com: Can you describe the approach behind a high-street retail concept for Miami Worldcenter, as opposed to a traditional shopping mall development?
Falcone: The approach goes back to the turn of the century when developers in major cities created high-end urban shopping centers like Fifth Avenue in New York. In the 1960s, America converted to traditional malls. What we are seeing now is a movement back to what major cities have been doing for the past 100-plus years. At Miami Worldcenter, we’re building in an urban environment and wanted the development to reflect Miami’s infrastructure and culture.
GlobeSt.com: Can you tell us about the major Encore Reunion project you are developing in the Orlando area?
Falcone: Encore Reunion is a resort that offers homes in a resort-hotel setting. This means it has all the experiences of a hotel, such as a concierge, restaurants, golf and a water park but offers guests the option of staying under one roof, with homes featuring 5-to-13 bedrooms.
There will be five different floorplans, but each home will offer the consistent quality of a 4-star hotel experience at a fraction of the cost. This is an unparalleled value proposition for the resort market.
GlobeSt.com: What other submarkets across the nation has Encore identified as prime development or investment targets?
Falcone: In addition to South Florida, we are developing in Portland, San Francisco, Austin, Phoenix/Scottsdale and are entering into Seattle as well, among others. These regions all offer unique characteristics to their growing populations, which creates an opportunity for us to produce distinctive developments catered to each region.