Since we last looked at the $1 billion Faena District between 32nd and 35th Collins Avenue on Miami Beach in October 2015, Faena House and Faena Hotel have opened.

At the front of Faena House, designed by architect Foster + Partners, is a sculpture by artist Jeff Koons called "Coloring Book." The penthouse at Faena House was sold for a record $60 million, but has since been put on the market for an asking price of $73 million.

The Faena Hotel, which was previously the Saxony Hotel, opened at the beginning of December 2015 in time for Art Basel. The 169 room luxury hotel next to Faena House features the magnificent "Gone But Not Forgotten" by Damien Hirst, which is a nine foot gold skeleton of a woolly mammoth encased in glass at the back of the hotel.

Scheduled to open June 2016 is the 42,565 square foot Faena Forum on the West side of Collins Avenue across from Faena House and Faena Hotel. The three story building was designed by Rem Koolhaas of OMA and will be the cultural hub of the Faena District.

Next to Faena Forum is the construction of Faena Bazaar, which will feature retail and office space. Across the street, construction is continuing on the completely gutted Faena Versailles Classic, which will be the last building in the Faena District to be completed.