Triple Five Group Completes Land Swap For Final Portion of 174 Acre Assemblage Needed To Develop American Dream Miami

American Dream Miami has moved closer to its expected 2021 groundbreaking after Triple Five Group completed a land swap with Graham Companies for the final 25 acre needed to develop the mega mall. The land is located south of NW 178th Street and east of 97th Avenue in unincorporated northwest Miami-Dade County, just west of Miami Gardens and Miami Lakes. The land will be incorporated in a 336-acre plan to build 2,000 apartment units, retail and office space.

The two parcels acquired by Triple Five Group were valued at $12.7 million while the three parcels acquired by Graham were also valued at $12.7 million. No money was exchanged as part of the deal but CIBC Bank USA reportedly increased its mortgage on Triple Five Group’s holdings from $15.35 million to $19.65 million.

First proposed in 2015, American Dream Miami would be the biggest mall in the United States when completed. The malls is expected to span over 5 million SF and will feature a retail component with an entertainment component consisting of a theme park, indoor ski complex, ice skating complex, aquarium and a submarine lake. The mall would cost between $4.5 billion to $5 billion with completion expected in 2025.

The Miami-Dade City Commission approved zoning changes in May 2018 and the developers and city will need to work together to build a highway interchange between the Ronald Raegan Turnpike, I-75 and NW 170th St. required to make the project possible. American Dream Miami will also require a $15 million sewer extension. Triple Five Worldwide plans to submit a final design by the end of 2020 and the group is currently reviewing the site to finalize the mix of entertainment and retail.

Triple Five Worldwide To Break Ground On American Dream Miami In 2021

Following the grand opening of American Dream Meadowlands in Fall 2019 in New Jersey, Triple Five Worldwide is planning to break ground on American Dream Miami in 2021. The mall, which has long been in the works, would be the biggest mall in the United States. American Dream Miami is expected to span over 5 million SF and will feature a retail component with an entertainment component consisting of a theme park, indoor ski complex, ice skating complex, aquarium and a submarine lake. The mall would cost between $4.5 billion to $5 billion with completion expected in 2025.

Triple Five Worldwide is now finalizing a design and will conduct an environmental study in Spring 2020 for a highway interchange between the Ronald Raegan Turnpike, I-75 and NW 170th St. in unincorporated northwest Miami-Dade County, just west of Miami Gardens and Miami Lakes. The Miami-Dade City Commission approved zoning changes in May 2018 required to make the project possible. American Dream Miami will also require a $15 million sewer extension. Triple Five Worldwide plans to submit a final design by the end of 2020.

American Dream Miami Approved To Bring America's Largest Mall To Miami-Dade

American Dream Miami has been approved for Miami-Dade and will become America's largest shopping mall. The project is expected to cost over $4 billion and will include 1.5 million SF of entertainment and amusement, over 2,000 hotel rooms, an entertainment complex, as well as another 3.5 million SF of retail. The amusement and entertainment section will include a ski slope, indoor water park, indoor roller coaster and a submarine ride. American Dream Miami will be located on a 175-acre triangle of wetlands and pastures at the unincorporated junction of I-75 and Florida's Turnpike near Hialeah. The project expects over 30 million visitors per year and the developers aim to generate interest by attracting people to the entertainment component to help drive the retail component.

American Dream Miami is being developed by Triple Five Group, the developers behind Mall of America in Minnesota and American Dream Meadowlands in New Jersey. The American Dream Miami proposal gained scrutiny from commercial developers such as Simon Property Group, General Growth Properties and Tubman Centers, who have created an opposition called the South Florida Taxpayers Alliance and aim to stop public funds from being contributed to the development of American Dream Miami.

In May 2017 American Dream Miami received its zoning approvals from Miami-Dade County commissioners but must complete environmental permitting before the developers can break ground. American Dream Miami's expected completion and opening is 2022.