Miami's $4 Billion Dream: Build the Largest Mall in America

The American Dream is alive and well in the minds of mega-developer Triple Five Group. The family-owned conglomerate, is preparing to build the nation’s largest shopping mall and entertainment complex on more than 200 acres of former cow pasture by Interstate 75 and Florida’s Turnpike, near Hialeah in northwestern Miami-Dade County. 

The massive $4 billion project is being backed by the developer of the Mall of America in Minnesota, presently the largest entertainment and retail complex in the United States.

Some of the components include a 16-story indoor ski slope, a 20-slide water park, a submarine ride in a man-made salt water lake with an artificial reef, a climate-controlled theme park, a 14-screen 3-D movie theater, a performing arts center, a 2,000-room hotel and much, much more.

The mall would also have 3.5 million square feet of retail space. In contrast, Aventura Mall, the third-largest mall in the U.S. and Florida’s biggest, has 2.7 million square feet of retail.

When completed, American Dream Miami encompass 6.2 million square feet, making it the largest shopping mall and entertainment complex in the United States.

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The project is expected to create some 25,000 construction jobs, 9,500 permanent jobs, and will provide a historic boost to the county’s economy.

The mega-mall would add $1.36 billion in taxable value and generate $1.6 billion in annual sales of goods, services and leases. That would generate $48.5 million in revenue for local taxing authorities, such as the county and the school board, and $93.6 million in sales tax for the state.

Triple Five Group hopes to break ground in early 2017 and complete the project in late 2019.

The Canadian-based development company is controlled by the billionaire Ghermezian family, which has ventures in real estate development, solar energy, oil drilling, vehicle manufacturing and mining.

This will not be the family’s first super-mall. In 1981, Triple Five built the 5.3 million-square-foot West Edmonton Mall in Alberta. Now the largest mall in North America, West Edmonton Mall has a giant water park, carnival rides, a casino and other forms of amusement.

In 1992 the Ghermezians had co–developed the 4.2 million-square-foot Mall of America in Minnesota, with an aquarium and the Nickelodeon Universe theme park among its features.

The Mall of America is the largest shopping mall in the United States; Triple Five recently broke ground on a $325 million project to expand it further.

Triple Five is also constructing American Dream Meadowlands in East Rutherford, New Jersey, a 4.8-million-square-foot retail and entertainment facility near MetLife Stadium.

Using $2.5 billion in private bond money and $1 billion from the state of New Jersey, Triple Five will be building hundreds of stores, dozens of restaurants, a 12-story-tall ski slope, a 200-foot drop ride, a giant aquarium and a water park.

Giant Marina Village Project Planned for West Palm Beach

The Related Group is preparing for construction of the first phase of its massive Marina Village complex along the Intracoastal Waterway in West Palm Beach.

The entire Marina Village project is planned for the 19-acre site that includes the Rybovich boat yard.

The city has approved construction of six apartment towers with a combined 1,000 units, 61,500 square feet of office space, 15,000 square feet of restaurants along the water, and 20,000 square feet of retail as well as a public promenade on the east side of North Flagler Drive, from 38th to 42nd Street.

Miami-based Related Group affiliate TRG North Flagler Venture is preparing for construction of the first apartment tower there.

The 25-story residential tower will have 132 units and will be the first piece to come out of the ground. The Related Group is partnering with Rybovich owner Huizenga Holdings on the development.

Located on the 5.1-acre site at 4400 and 4416 North Flagler Drive just north of Rybovich, the building will have a 3,025-square-foot beach club along the water with sand brought in. Miami-based architecture firm Arquitectonica designed the project.

The Marina Village project was approved by the city in 2014, although a lawsuit from a neighbor opposed to the project held it up before that case was resolved in March 2015.

The property was acquired for $9.4 million in 2005 and the Related Group held onto it through the recession.

Marina Village is part of a development boom on West Palm Beach’s North Flagler corridor.

Palm Beach billionaire Jeff Greene is crafting plans for 2,300 residential units and a high-end grocery store on North Flagler Drive about 11 blocks south of Rybovich.

Children's Healthcare to Build Revolutionary Center for Pediatrics

Children’s Healthcare of Atlanta is preparing for vertical construction on its new Center for Advanced Pediatrics--a revolutionary new pediatric ambulatory care center. The new 260,000-square-foot facility situated at I-85 and North Druid Hills Road in Brookhaven will bring together pediatric clinics and specialists under one roof.

The 8-story outpatient clinical facility will focus primarily on treating children with chronic and complex diseases, and will put complex care specialists, state-of-the-art technology and leading edge research for outpatient pediatric care under one roof for the first time in Georgia.

DeKalb County approved the project in late 2016. The Center for Advanced Pediatrics will house 457 physicians and employees and anticipates managing more than 100,000 patient visits in the first year.

Many patients come to Children’s with complex conditions that require frequent visits to multiple specialists and clinics. These kids and their families face the stress of coordinating with different care teams while also juggling logistics such as parking and traveling from one physician’s office to another.

“The Center for Advanced Pediatrics will be a pediatric destination for the Southeast because it will have both complex care and research capabilities in one facility,” said Patrick Frias, M.D., Chief Operating Officer of Children’s.

“This innovative facility will improve the patient experience and create a destination where much of what these families need medically for their pulmonology, neurology, cardiology and diabetes are just a few of the specialties that will move into the new building, which will be centrally located to Children’s three hospital campuses, Egleston, Hughes Spalding and Scottish Rite.

Almost an entire floor of the new building will be dedicated to treatment and research for breathing and airways, bringing together the areas of pulmonology, allergy/immunology, cystic fibrosis and sleep.

Basic imaging and phlebotomy services will be available in-house for quick and easy access. A pediatric research center in the building will provide a convenient, dedicated location for patients to participate in clinical research trials.

In addition to physician space, the new facility will have state-of-the-art telemedicine capabilities, flexible exam rooms, a teaching classroom and a demonstration kitchen to enhance specific clinical programs. Additional features of the site include gardens and green space around the building and a dedicated parking deck.

The first phase of the project includes constructing a 5-story parking deck, streetscape, landscaping, and building storm water management facilities. Additionally, utilities including the rerouting of sanitary sewer lines and storm water lines will be constructed to accommodate the future development, according to city documents.

The site where the building is going up is located on the property where the former 19-story Executive Park Motor Hotel was located and imploded in 2014.
 

2,400+ Hotel Rooms Planned for Booming West Palm Beach

Tourism is booming in Palm Beach, and so are plans for construction of several of new hotels. Plans are being dusted off for a hotel on Clematis Street, in the heart of downtown. Meanwhile, a new hotel outside the downtown is in the works.

In addition, a controversial plan to build a hotel at the Palm Harbor Marina on the waterfront downtown just won a major legal battle, paving the way for construction of the 8-story, 108-room hotel.

Combined with all other planned or proposed hotels, West Palm Beach could be looking at more than 2,400 hotel rooms opening during the next two to three years.

The timing is good: A record-breaking 7.35 million visitors came to Palm Beach County in 2016, a 5.8 increase over 2015’s level, according to county tourism officials.

The increase marks the eighth consecutive year of tourism growth in the county, according to Discover the Palm Beaches, the county’s official tourism marketing organization.

Downtown, Robert Samuels of Provident Jewelry is reviving plans to build the Hotel Clematis, a 94-room boutique hotel at 335 Clematis Street.

In 2012, Samuels received city approval to build up to 10 stories, but wasn’t able to line up a suitable hotel partner with financing. That’s ready to change with the growth of the downtown and the strong demand by major chains seeking urban locations for their hip boutique brands.

Also helping bolster construction: A recent report showing a big jump in hotel occupancy and room rates. The report showed average daily room rates in West Palm Beach now close to the mid-$200s per night, up from $140 six years ago. Average occupancy also rose to more than 70 percent, up from 47 percent.

Hotel Clematis is designed to have an entrance and elevator on Clematis, allowing diners to go directly to the planned third-floor restaurant and garden terrace overlooking the busy street.

Meanwhile, over at the Palm Harbor Marina, it’s full steam ahead for a long-planned hotel. The marina is at 400 North Flagler Drive.

Plans include a grand ballroom, a trendy restaurant and bar and a rooftop pool. Although a hotel brand has yet to be selected, the Marriott and Wyndham brands are both in contention.

Other new hotels will include:

• Developers of the old city hall site plan to build a 210-room Autograph Hotel by Marriott, plus 251 apartments, 19,000 square feet of retail and 11,493 square feet of restaurant space. The property is east of Olive Avenue between Banyan Boulevard and Second Street.

• One West Palm, a twin-tower, mixed-use project by Palm Beach billionaire Jeff Greene. Greene plans to build 201 hotel units, plus 209,405 square feet of office space and 328 apartments. 

• Sunview Companies of Miami plans to build two eight-story hotels along the Rosemary Avenue corridor. A 224-room Indigo Hotel would be at Railroad Avenue, between Third and Fourth streets, while a 218-room Aloft would be on the west side of the block, facing Rosemary Avenue.

• Finally, a group planning to build a 14-story, 150-room Canopy Hotel next to the Two City Plaza condominium is moving forward with building permits.

Investors say hotels are good for downtown businesses, and vice versa.

Having the 400-room Hilton West Palm Beach hotel now open adjacent to the convention center allows the venue to book larger events, which in turn creates greater demand for hotel rooms.

So strong is the success of the Hilton’s first year that The Related Cos. is likely to build another, 200-room Hilton brand next door, according to Ken Himmel, chief executive.

But new hotel plans aren’t limited to downtown West Palm Beach:

Outside of downtown, an investment group wants to build a 160-room hotel along Interstate 95, on vacant land behind Rachel’s Gentlemen’s Club, an upscale strip club at 2905 45th Street.

Last year, as spring training fever heated up with construction of the Ballpark of the Palm Beaches, they decided to get the 2.7-acre vacant land ready for development, a process that will be completed within six to eight weeks.

The 45th Street hotel marks the second new hotel tied to baseball.

Last month, the Houston Astros paid $6.5 million for one of three towers that make up the Forum office complex at the northeast corner of the boulevard and Congress Avenue. The empty office tower will be transformed into a 197-room hotel.

It will be used by the Astros to house players, coaches and support staff during spring training every January, February and March. The rest of the year, the hotel will be available to the public.