Soon, Miami, Florida will have a new tourist attraction, “The American Dream”. A 6 million square foot mall and entertainment hub to be exact. The plan includes dozens of restaurants, 1,200 retail stores, an indoor ice rink, an artificial ski slope, “submarine” rides, and a water park with a giant indoor pool.

The $4 billion retail and entertainment complex will outshine America’s current largest mall, King of Prussia, which sits about 20 miles outside of Philadelphia city limits. The American Dream Miami’s developers, Triple Five Group, also developed the Mall of America in Minneapolis, and has received approval from the city of Miami, pending permits, additional financing, and a proposal for stormwater runoff infrastructure. The South Florida Taxpayers Alliance, a group of mall owners, have concerns about financing of the project, and has stated that they do not want Triple Five group to recieve any taxpayer funding to go towards the project. The current proposal has the complex being funded fully by private donors.

Though many retail stores and malls have closed in recent months due to the surge and popularity of online shopping, the complex will put the emphasis on entertainment value, rather than focus on the retail. Supporters predict the mall will create up to 25,000 jobs and hopes to attract 30 million tourists annually, while skeptics feel the project will oversaturate the current retail landscape.

There is currently no set timeline for the completion of the project. The proposed location is set for undeveloped land off the Florida Turnpike.

For the latest news, videos, and podcasts in the Retail Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – RetailMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale