It appears that Cabi (the original developer) has regained control of the property this month (June 2012.)

As part of the reorganization, Cabi was required to submit to the court a new plan. They have filed construction timeline and financing details.

Mall developer Courtelis and Beame Architectural Partnership have been brought on.

Design attributes for the new project:

Capital Brickell Place was designed as a retail and activity hub to anchor the
South end of the South Miami Avenue commercial district. The shops and restaurant face the
street welcoming customers. Glass facades are used to activate the pedestrian realm with the use
of decorative storefronts, show windows and open public areas. The 20 foot deep sidewalk and
public plaza lined with palm trees are incorporated to continue the trend of activity and
pedestrian movement in the community. The plaza and sidewalks also provide open space and
set-backs as required by the City of Miami Zoning Code Miami 21.

The development was designed to maximize on essential retail strategies and
comply with “Miami 21” without the need for waivers and variances. The circulation, both
pedestrian and vehicular, is carefully planned to be convenient, enhancing the shopping
experience. The property is easily approached by pedestrians, from the Metro Mover and by a
comfortable roadway system that surrounds the development. An abundance of glass elevators
and escalators run through each floor allowing customers to reach their destination quickly.
The parking is located below and above the stores to maintain close proximity to
customers. The upper parking levels are artistically screened from adjacent neighbors with a
series of metallic screens that allow air to penetrate and offer visual interest. Impact to adjacent
roadway system is minimized through the use of abundant vehicular stacking space within the
parking areas eliminating the need for stores to block adjacent roadways while entering the
project. In addition, parking was designed as a revenue generator with adequate space for toll
devices, three lanes in and four lanes to exit. The number of parking spaces exceeds the
minimum required by Miami 21. Instead the parking count is based on the number of spaces
required to attract national tenants with strong credit ratings.

Each floor has been designed for the retail market offering flexibility in store
sizes that accommodate a variety of tenants. On the upper levels store sizes from 8,000 square
feet to not more than 55,000 square feet can be achieved. The ground level accommodates
restaurants on the plaza and smaller service tenants. Each store has excellent visibility from
common areas, plus exterior signage in accordance with “Miami 21” located along main
pedestrian circulation routes.

The back-of-house service areas are screened from public view to diminish
negative impact on the neighbors. All truck and service activities take place within a large
enclosed service area. Freight elevators are positioned to deliver merchandize efficiently to
upper level tenants.

The development is designed to the highest standards of urban retail centers and
with its unique location in this market Capital Brickell Place is destined to be a successful
income producing property.