Mall of America is a whopping more than four million and two hundred thousand square feet with over five hundred and twenty stores, and is considered to be the largest destination for shopping in the history of the world. This mall is owned by Alberta- Triple five group, which just announced last week that they are starting a new project in the Miami area that will be even bigger than their Mall of America in every way.
Above: Satellite View of Proposed Location for American Dream Miami Mega Mall and Theme Park / Entertainment Complex
The project is prjected to cost more than four billion dollars total. Below are some of the features to be included:A water park
- Ski slope
- Submarine ride
- Sea lion show
- Bowling
- Miniature golf
- Tons of different restaurants
- Cinema
- Ice rink
- Performing arts theater
- Ferris wheel
- Roller coaster ride
- Numerous hotels
- Various condominiums
American Dream Miami, as it is being called, is proposed to be built in an area of Miami-Dade county that is not incorporated and is towards the northwestern corner of the country, near Miami Lakes. These plans may seem like something so extremely vast as to be unlikely, but considering that Triple five is the developer, don’t count it out.
A few (other) examples of plans for retail development in Miami include:
- By the end of the year of 2015, what is known as Midtown Dural will have an added three hundred thousand square feet to it thanks to Optimus International Developers
- By the end of the year of 2016, in what is known as Brickell City Centre, also known as the main financial district in Miami, will have an added five hundred and sixty five thousand square feet of space for retail to it thanks to Swire Properties; a developer from Hong Kong as well as Saks Fifth Avenue
- By the end of the year of 2017, the heart of downtown Miami also known as the Mall at Miami World Center, will have an added seven hundred and sixty five thousand square feet to it that is made up of space for retail, entertainment and restaurants.
Speculation as to whether or not Miami will be able to fully support all of this new retail space is on the minds of many. Clearly it will have an affect on existing retail centers, which may find it difficult to compete against such an all out assault on the sector. In any case, tons of jobs will be created, and the stops and businesses in other centers are always free to move into the new center, if so desired.
Triple Five is really going all in on this. Some of the moves that they are making may be risky, but they are betting that having everything anyone could really want in one area will pay off. Hence they are pursuing this concept, with a places where you can go shopping, eat, sleep and stay as well as places where you can go to be entertained such as a wide variety of activities like movies, parks, rides, arcade games, miniature golf and more. Time will tell.
A development like this does not happen overnight, and may not happen at all, of course. Consider that Triple Five had similar plans with a mall in New Jersey that was supposed to be done back in the year of 2010. It is still waiting for necessary approvals.