The largest mall in the US is coming to Miami, and it will have a massive indoor water park and ice rink

Posted by Jose Luis Herrera

By: Leanna Garfield May 25, 2018, 10:39 AM. Business Insider

The largest mall in the US — called the American Dream — is officially coming to Miami, Florida.

Spanning 6 million square feet, the $4 billion retail and entertainment complex will be about twice the size of the nation’s current largest mall, the King of Prussia Mall in Montgomery County, Pennsylvania.

The American Dream Miami’s developers, Triple Five Group, are also behind the Mall of America in Minneapolis, Minnesota, according to The Miami Herald.

Set to be located on undeveloped land off the Florida Turnpike, the American Dream Miami will look more like an amusement park than a traditional, dumbbell-shaped mall. The complex will feature a water park with a giant indoor pool, an indoor ice rink, an artificial ski slope, “submarine” rides, dozens of restaurants, and up to 1,200 stores.

The project doesn’t have a set timeline yet.

Triple Five anticipates that 30 million people will visit the property each year. That’s about 10 million fewer visitors than the Mall of America, which generates nearly $2 billion annually for Minnesota, according to the developers.

The new project has received some pushback. A number of existing malls in Miami argue that the city, which already has a saturated retail market, doesn’t need another mall (especially of this scale).

Some Miami locals also have concerns regarding the development’s potential water and energy use and impact on the city’s stormwater system. During a meeting of the Miami-Dade County Commission on May 17, Miami resident Megan Sorbo called the project “an environmental abomination,” according to the Herald. Environmentalists from the Sierra Club noted that the mega-mall will be in a low-lying area of Miami, putting the development at greater risk of flooding as well.

While Triple Five has received approval from the city, it still needs a series of permits, additional financing, and a proposal for stormwater runoff infrastructure.

As the American Dream Miami moves forward, hundreds of malls and thousands of mall-based stores — from Claire’s to Sears— have closed in the past two decades across the US. According to retail analysts, many more may close within the next 10 years, due largely to the rise of online shopping and changing consumer habits.

Miami’s new complex could provide a more viable model for struggling malls and malls of the future. Unlike traditional suburban centers, the American Dream Miami focuses on experiential attractions, with the water park and ice rink to reside in the atrium. The project fits into the genre of “destination malls,” which are often located near urban centers and attract visitors from the entire region rather than only people who live nearby.

Destination malls, also called “super-regional malls” or “lifestyle centers,” use experiential attractions to subsidize regular retail shops. They usually include attractions like movie theaters, bars, casinos, restaurants, rock climbing walls, laser tag, and even roller coasters.

In a previous interview with Business Insider, David Smiley, the assistant director of Columbia University’s Urban Design graduate program, said that destination malls can be more profitable to developers than normal malls.

“The emergence of entertainment as part of the shopping mall is becoming very important,” he said. “It keeps people in the center longer. And even if they weren’t going to shop for something, they get lured in.”

For example, in 2012 and 2013, the Carousel Center in Syracuse, New York re-branded as Destiny USA, and added higher-end restaurants, IMAX screens, an arcade, and indoor go-carting and obstacle courses. According to the mall, the 2.4-million-square-foot complex draws around 29 million people (both from the US and Canada) every year.

Triple Five is working on another destination mall in New Jersey, too. The complex, called American Dream Meadowlands, will include a Nickelodeon theme park (similar to the one at the Mall of America). It’s set to open in 2019.

Write your comment

Keep Updated

More News about Real Estate

Miami and New York top the US in mortgage delinquencies as rates rise in all 50 states

businessinsider – Barbara Smith Miami leads the US in mortgage delinquencies for the top 10 metropolitan areas, as reported by CoreLogic on Tuesday in their monthly loan performance findings. Roughly 14% of mortage payers in the city were behind 30 days or more in payments. New York and Las Vegas took the No. 2 and […]

Read More
Aqua Star! Portland’s Iconic Floating Home Makes a Splash

By Kristine Hansen | Aug 4, 2020. Realtor.com This isn’t the only floating home in the Pacific Northwest—but it is the only one with outer-space vibes. On the market for $850,000, this futuristic-looking home on the water is described in the listing details as “Portland’s most iconic and famous floating home.” This 3,000-square-foot, three-bedroom home floats off the […]

Read More
¿Por qué en Miami hay tantas personas que no logran comprar una propiedad?

Por: Jose Luis Herrera. 07.30.2020. En los últimos años he asesorado a numerosas personas interesadas en alcanzar “El Sueño Americano”; Comprando su casa o apartamento. Pero comencemos explicando cómo funciona, al menos en mi caso, el proceso a la hora de iniciar una relación profesional con los clientes que tienen una intención de compra. Lo […]

Read More

Sale or Purchase?

This is an example of one of the contract you need to fill to buy and/or sale a house: "AS IS" Residential Contract For Sale And Purchase
Download!

Renting a House?

This is an example of one of the contract you need to fill to rent a house: Residential Lease for Single Family Home and Duplex
Download!