MIAMI-DADE APPROVES LAND DEAL FOR NEW MEGA-MALL
Miami-Dade County Commissioners on Tuesday approved a land deal that would help bring the nation’s largest mall to the county. The final tally: 11-2 in favor. Developer Triple Five, which also built the current largest mall in the country, Mall of America in Minnesota, announced to county officials two weeks ago that it plans to outdo itself in Miami.
Now, the developer has passed the first hurdle in building its 4-million-square-foot project. Dubbed American Dream Miami, the mall would include a massive theme park with water slides, a ski slope and submarine tours. It would be located where I-75 intersects Florida’s Turnpike near Miami Lakes, the Miami Herald reported.
To pull the massive 200-acre project off, the developer needs an 82-acre parcel that’s owned by the state. The county would buy the land as an intermediary for Triple Five. Commissioners approved the $12 million allocation needed for the county to purchase the land from the state. The developer also has to receive approval from the county’s school board, which is leasing roughly half of the state’s 82 acres. The board will discuss the matter Wednesday, but is expected to break its lease, in exchange for the proposed $7 million in compensation from Triple Five.
Though Triple Five expects the project to create 25,000 jobs, Tuesday’s deal stipulates that the developer must create a minimum of 7,500 jobs or risk a $5 million fine — a provision in case Triple Five can’t get the proper zoning or regulations for the mall, the Herald reported.