Can Miami Support the Biggest Mall in North America?
What's Happening With American Dream Miami

The biggest Mall in North America - 6.2 million sq.-ft.

American Dream Miami 'The local alternative to Orlando theme parks'
Exceeding the Other Three

Triple Five's American Dream Miami
Back in 2015 Triple Five announced American Dream Miami project, which “will exceed our other world famous projects in all respects.”

American Dream Miami might be the most challenging project ever developed in South Florida. But, as one of the nation’s most ambitious malls to date, it has the potential to supercharge the region’s economy by fueling tourism and retail spending.

Following its May 2018 approval by city council, Triple Five was laying the groundwork in northwest Miami-Dade County for the project with 6.2 million square feet of retail and entertainment space, plus 2,000 hotel rooms. The 3.5 million square feet of retail would be the most of any property in North America. The project is still in the early stages, but they hope to have it open by 2023.

At a cost of about $4 billion, American Dream Miami will be one of the most challenging projects to fund in Florida history. Triple Five will have to pay for it without local taxpayer dollars – as mandated by county commissioners when they approved the project.

American Dream Miami would probably need a monster loan of about $3 billion, an almost unheard-of amount outside of the New York City area.

Whether Miami can support such a large amount of new retail space is a question. Some brokers say Miami’s retail market is strong and that while e-commerce has put a damper on retail growth in other locales, Miami has been little-affected. bizjournals.com

The Ghermezian Family Won't Be Stopped

June 17, 2020: Triple Five “inching closer” to construction on American Dream Miami
Triple Five Group is still planning to move forward with its American Dream mega mall in Miami-Dade, even as the Canadian development group is staring down billions of dollars of debt payments for its other malls.

Triple Five, led by the Ghermezian family, completed a land swap with the Graham Companies for 40 acres near the site of the American Dream Mall, near Miami Lakes in northwest Miami-Dade County.

Diaz de la Portilla, an attorney representing Triple Five said the plans for the American Dream have not changed despite the impacts of the pandemic.

“On our end, everyone is optimistic in terms of retail and in terms of the economy that things will turn around,” said Diaz de la Portilla. therealdeal.com

Land swap brings American Dream Miami mega mall closer to 2021 groundbreaking
Despite the pandemic, the project is on track, said Diaz de la Portilla. Design concepts are being finalized both for the mall and a planned interchange at I-75 and the Florida Turnpike; plans likely will be filed with the county in the fall. “We still need to get the exact mix of entertainment to retail,” Diaz de la Portilla said — before submitting them in the fall.

Groundbreaking is scheduled for 2021. “We are very optimistic that we will be close to that date and that the last quarter of this year is going to be good for entertainment venues,” said Diaz de la Portilla. miamiherald.com