[chris08876]

Developer of Miami-Dade mega-mall closes land deal

Triple Five Group closed on the purchase of 82 acres in northwest Miami-Dade County as the first piece in its plan to build the largest mall and theme park in North America.

Miami-Dade County sold the land near the southwest corner of Interstate 75 and the Florida Turnpike for $12.3 million to International Atlantic LLC, an affiliate of the Edmonton, Canada-based company. The land was previously owned by the state. The county had the first right of refusal to purchase it without putting it up for bid. Triple Five negotiated a deal with the county to fully fund the purchase of the land, plus pay $7.25 million to Miami-Dade County Public Schools for terminating its lease on part of the property.

The entire project, dubbed American Dream Miami, is planned for 225 acres. International Atlantic has additional acreage in the area under contract with private parties, including the Graham Cos. The property is developed woodlands and pastures. There are many homes just east of Interstate 75.

The developer hasn’t disclosed the size of American Dream Miami, but said it would be larger than the 4-million-square-foot Mall of the Americas that it owns. The project would include shopping, dining, an indoor ski slope, a skating rink, amusement park rides, a theater, a submarine ride, a sea lion show, a hotel, a condo tower, and many other features.

============================
http://www.bizjournals.com/southflor...ess+Journal%29