Cocowalk was sold in 2015 for $87.5 million to a partnership between, Federal Realty Investment Trust, Grass River Property and The Comras Company of Florida.

The new Cocowalk will be focused on catering to people who live and work in the Grove.

Below some images with recent renderings by ARX Solutions

“When CocoWalk was built in the early 1990s, it was an evolutionary project combining retail and entertainment: They coined the term ‘eatertainment,’ ” Comras said. “Twenty years ago, it was all about coming to the Grove at night to play. Then South Beach got so hot, it sucked all the life out of the Grove and nobody went there anymore.

“Today it’s different. We have real density in Miami now. You have all these different neighborhoods — Wynwood, Brickell, Edgewater — and that density causes localization. People want places where they can live and play. They want service-oriented businesses that cater to their lifestyles. That’s what we’re going to give them with CocoWalk.”

Comras says he expects CocoWalk to attract high-end boutique shops and service-oriented businesses — restaurants, salons, spas and gourmet markets. Some current tenants — such as Youfit Health Club, a 24-hour gym, and The Gap, which still has several years left on the lease of its 20,000-square-foot store — are staying put. The popular Cinepolis movie theater will undergo another round of renovations.

Other tenants, such as The Cheesecake Factory, are leaving. The restaurant is permanently closing its doors at the end of May - via Miami Herald click here to read more