Recent reports this month indicate that the American Dream Miami Megamall may face a further siginficant setback to its completion. This is as a result of a court filing that could potentially see the project loose a third of its development area to Graham Companies who had agreed to sell Tripe Five Group the land in 2014. Triple Five never closed on the deal but held onto the land by paying a fee of US$11 million to extend the agreement.
After years of delays, the American Dream Miami mega-mall project now faces a potentially catastrophic setback: the loss of a big chunk of its development site. A recent lawsuit filed earlier this month reveals the developer behind the project, Triple Five, is fighting to retain control of a third of its 175-acre development site outside Hialeah. The dispute dates back to 2014, when Graham Companies, a top local developer out of Miami Lakes, agreed to sell Triple Five a 63-acre parcel for the project at an undisclosed price. The land deal never closed, according to the recent lawsuit, but Triple Five had retained control of the real estate without objection from Graham executives by paying $11 million in extension fees to maintain the agreement. Furhter it is claimed that the company has delayed on completing several pre-development milestones to date.
Cost and location
American Dream Mall is a proposed US$4 billion retail and entertainment complex that is set for construction in the Everglades region of Florida, near Everglades National Park and within Miami-Dade County’s Urban Development Boundary.
Developed by Triple Five Group, which is also responsible for the development of the Mall of America in Minneapolis, Minnesota, the American Dream Mall project will build about double the size of the country’s current biggest mall, the King of Prussia Mall in Montgomery County, Pennsylvania, to become the new largest mall in the United States.
It will resemble an amusement park rather than a standard, dumbbell-shaped mall and include a water park with a massive indoor pool, an indoor ice rink, a ski slope, “submarine” rides, dozens of restaurants, and up to 1,200 businesses.
The project does not yet have a specified timetable.
Expectations for the American Dream Mall in Miami
The facility is expected to attract 30 million visitors every year, according to Triple Five. According to the developers, that’s around 10 million fewer visitors than the Mall of America, which produces about US$2 billion in revenue for Minnesota each year. There has been some criticism of the new initiative. A number of current malls in Miami say that the city doesn’t need another mall because it already has a crowded retail sector.
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While Triple Five has gotten local permission, it still requires a number of permits, more funding, and a proposal for stormwater runoff infrastructure. Miami’s new complex might serve as a more feasible model for failing malls and future malls. Unlike standard suburban malls, the American Dream Miami concentrates on interactive entertainment, with the water park and ice rink located in the atrium.
The project falls under the category of “destination malls,” which are often located in metropolitan centers and attract tourists from all around the region rather than just those who reside locally.
7 facts about the American Dream Miami Megamall
The American Dream Miami Megamall is set to make waves in Miami-Dade County as one of the most ambitious and highly anticipated projects in recent memory. Here, we unveil essential facts about this monumental development, offering you an inside look at what to expect.
1. A vision that started in 2015
The journey of the American Dream Miami Megamall began in March 2015 when the Triple Five Group unveiled plans for this colossal entertainment complex. Initially known as “American World,” the project later adopted the name we know today, aligning it with its sister project, American Dream Meadowlands. Over the years, this vision has evolved and persisted, aiming to create a shopping and entertainment destination like no other.
2. The Triple Five Group’s impressive portfolio
The brains behind the American Dream Miami Megamall, the Triple Five Group, is a heavyweight in the mall development industry. Their ownership of the Mall of America, the West Edmonton Mall, and the American Dream Meadowlands underscores their expertise in crafting unrivaled shopping and entertainment experiences.
3. A transformational complex
The American Dream Miami Megamall is not just a mall; it’s a multifaceted complex designed to redefine retail and entertainment. Spanning a staggering 6.2 million square feet, it is set to become the largest shopping mall in North America and the sixth largest globally.
4. Unprecedented entertainment
The megamall promises an array of attractions, including a massive indoor water park, an ice rink, an indoor ski slope, and an amusement park. This diverse entertainment lineup aims to provide visitors with unforgettable experiences and is a significant departure from the traditional mall concept.
5. Location in the Everglades region
While strategically located near Miami and accessible via major highways, the American Dream Miami Megamall will also be situated in the Everglades region, close to the Everglades National Park. This unique location adds an environmental dimension to the project, contributing to discussions and concerns about its impact on the delicate ecosystem.
6. Delays and controversies
The project has faced its fair share of challenges, including construction delays due to financing issues and design changes brought about by the COVID-19 pandemic. Controversies have arisen regarding its potential impact on the nearby Everglades National Park and concerns about traffic congestion in the region.
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7. Political influence
The construction of the megamall even became a talking point in the 2018 Florida gubernatorial election. Candidate Gwen Graham faced criticism from various groups for her ties to the project, highlighting the megamall’s significance beyond just retail and entertainment.
In conclusion, the American Dream Miami Megamall is a groundbreaking venture that transcends the boundaries of traditional shopping malls. With a rich history, a diverse array of entertainment options, and a location that straddles urban development and natural beauty, it is poised to leave a lasting imprint on Miami-Dade County.
