American Dream Miami developer secures more land for mega mall

Triple Five Group has locked up an additional 24.6 acres in northwest Miami-Dade County, where it plans to build American Dream Miami, the largest mall and theme park in North America.

International Atlantic, an affiliate of the Edmonton, Alberta-based company, recently purchased a 15-acre site for $6.8 million from Rocoo Inc., managed by L. Michael Osman in Hialeah, and a 9.6-acre site for $3.15 million from Tract 32 LLC, managed by Frank and Gloria Ippolito in Marco Island.

Triple Five – the owner of the Mall of the Americas in Minnesota – plans to build American Dream Miami near the southwest corner of Interstate 75 and Florida’s Turnpike. In April, it closed on the purchase of 82 acres there from Miami-Dade County for $12.3 million, plus a $7.25 million lease termination payment to the county’s public school system. The entire project is planned for 225 acres. Triple Five has much of that land under contract with the Graham Cos. and various other owners in the area.

The developer has yet to submit its site plan, so the specifics of the size and scope of the project haven’t been determined. Triple Five recently took out an advertisement in local media, saying American Dream Miami would have the world’s largest indoor ski slope, which would be open daily starting at 10 a.m.

In July, Miami-Dade County Deputy Mayor Jack Osterholt said it would probably take until November 2016 for Triple Five to begin its application process as it works with county staff to prepare its proposal.

American Dream Miami still has 118 acres more to buy.

American Dream Miami would span 200 acres in NW Miami-Dade County

American Dream Miami would be developed at the intersection of the Florida Turnpike and Interstate 75

The many components of American Dream Miami

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Story by: Brian Bandell – Sep 1, 2015, 10:29am EDT
Photo Courtesy: Biz Journals

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