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The $2.5 Billion Plan to Transform Six Historic Blocks in South Beach
The balance of money and power in Miami is refocusing to where it all began.
Illustration by Vanessa Saba for Bloomberg Businessweek
When it’s complete in 2027, Miami’s “Billionaires’ Beach” will be a sandier, sunnier version of Manhattan’s 57th Street or London’s Bishops Avenue.
The bold name was coined by Michael Shvo, one of several developers collectively pumping more than $2.5 billion into a handful of blocks along Collins Avenue, the arterial that runs parallel to the city’s ruler-straight coastline.