Bayside Marketplace (or simply Bayside) is an open-air festival marketplace located in Downtown Miami, Florida, United States consisting of two mall structures: North Pavilion and South Pavilion. The center is situated on the banks of Biscayne Bay, with the City of Miami marina on one side.[2] It was developed by the Bayside Entertainment Company, a subsidiary of The Rouse Company, a Columbia-based real estate developer.
Bayside Marketplace is managed by the Ashkenazy Acquisition Corporation, which owns a 49% stake in the mall, while GGP, a subsidiary of Brookfield Properties, owns the remaining 51%. The mall remains as a successful tourist attraction unlike many other Rouse marketplaces, though it did struggle in the early 2010s period and was eventually renovated in 2016.
History
Pre-construction and development
In the 1970s and 1980s, downtown Miami experienced a significant decline characterized by high levels of crime, drug-related violence, and economic stagnation, leading to the city's infamous national reputation as a troubled and dangerous urban area.