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Bal Harbour Shops has broken ground on a 340,000-square-foot, $400 million expansion after getting a $550 million loan from Metlife Investment Markets, which also includes refinancing existing debt. A new three-story promenade with 70 shops is planned. Neiman Marcus will expand by 20,000 square feet. Plans for a Barneys New York have been canceled amid a bankruptcy court case, the Miami Herald reported. A new entrance will be built on the northeast side of the mall. The mall’s owners are also contributing to a new community park. Zyscovich Architects is the lead designer.
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