American Dream Miami
Developer Triple Five, builder of the largest mall in the US announced he plans to outdo himself in Miami with a four million square foot project called American Dream Miami. Miami Dade commissioners approved the project 11-2.
American Dream Miami is planned to have a huge theme park with water slides, a ski slope and submarine tours, and will be located where I-75 intersects Florida’s Turnpike near Miami Lakes. Triple Five needs an 82-acre parcel that’s owned by the state. The county would buy the land as an intermediary for the developer. Commissioners approved the $12 million needed for the county to purchase the land from the state. Not all is a bed of roses, if the developer fails to create at least 7,500 jobs, (let’s say if he can’t get the necessary zoning or regulations for the mall) he risks a $5 million fine.
According to Miami Herald,The Miami-Dade County school district will get $7.2 million to give up a lease of about half of the 82 acres, in addition to a $1 million contribution to academic programs and internships for students.
More jobs, more money for schools, and another mega destination for local and tourist shopaholics of the world makes this an interesting proposition within the frame of a strong market that seems to find a way to continue growing, using an advantage that few other important cities in the world have: an expanded geographic area. Think Manhattan for example, there is a very limited supply of land. Miami, on the other hand, is a conglomerate of different cities and areas that allows for an unusual potential for expansion and growth. Oceanfront properties are a limited resource of course, but areas like Weston and Sawgrass, and probably soon American Dream Miami are living proof that locals and foreigners are willing to go inland and enjoy the weather from their pool, go golfing, shopping, wear flip flops all year round and be part of the Miami dream.
There are so many possibilities if you are looking to buy a property in Miami that you need a trusted expert in the field, so don’t be shy…call us and we will help you find the perfect one!