Canadian mall owner and operator Triple Five Group is priming to build the largest shopping mall in the U.S. to be named 'American Dream Miami'.
The Edmonton, Alberta, Canada-based company already owns two of North America's largest malls - 'West Edmonton Mall' in Canada and Minneapolis-St. Paul-based 'Mall of America.'
The company also owns the American Dream Meadowlands mall to open at the Meadowlands Sports Complex in New Jersey by fall of 2016.
American Dream Miami mall is proposed to be built on 200-acre grazing land in northwestern Miami-Dade county, with the project expected to cost as much as $4 billion and employ as many as 25,000 workers. It will be roughly double the near 100-acre Mall of America in Minnesota.
Triple Five Group is closely-held, owned and operated by the Iranian-Canadian Ghermezian family of Canada. It was started by Iranian rug retailer Jacob Ghermezian.
The proposed project in envisaged at a time when large malls are said to be losing their flavor due to lose customers to online retailers and discount superstores. Dozens of malls have already closed down in recent years. However, Triple Five markets its malls as full-fledged destinations, not simply shopping centers.
The American Dream Miami is said to be different from the usual shopping malls, with huge amusement and gaming areas having a ski slope containing 800 feet of artificial powder, skating rink, roller coaster, Ferris Wheel, an indoor lake with submarine trips, hotels, condominiums, a mini golf course, water park and a live sea lion exhibit among others.
The mall will also be targeting wealthy international tourists from Canada, Europe, Brazil, Colombia, and Argentina, rather than the local population. Foreigners are said to spend far more time and money during their shopping excursions than Americans.
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