March 9, 2015
Should the Mall of America be cloned?
A 200-acre shopping and entertainment destination is being proposed for southeastern Florida that’s even bigger and offers more spectacle than the Mall of America, the largest shopping mall in the U.S.
The developer, Edmonton, Canada-based Triple Five, also owns the Mall of America in in Bloomington, MI and West Edmonton Mall.
In a statement, Triple Five said its new project, American Dream-Miami, will be larger than Mall of America, which comprises 4.2 million square feet with 520 stores and 50 restaurants and draws 42 million visitors a year. The Miami Herald reports the project would cost $4 billion and employ 25,000 once opened.
American Dream-Miami is seen as being modeled after American Dream Meadowlands, the successor to the failed Xanadu project in northern New Jersey. Triple 5 took over the project in 2010 after the original developers sought bankruptcy. Part of the Jersey mega-mall is expected to open 2016.
Beyond stores and restaurants, American Dream Miami will include:
- A performing arts center;
- A 16-screen luxury theater with high-back rocker seats, including a 148-seat VIP theater with full service concession;
- An indoor and outdoor amusement park, including Legoland and theme park rides;
- The world’s largest indoor ski slope;
- An indoor waterpark with large slides and a simulated beach;
- A skating rink featuring ice ballet, figure skating and hockey;
- A sea lion show;
- A submarine ride and aquarium with a live reef on a 7-acre lake;
- A huge Ferris wheel so tall that riders can see the ocean;
- Bowling and billiard center;
- Miniature golf;
- Water ballet fountains, like those seen outside Las Vegas casinos;
- A museum;
- A hotel and luxury condominiums.
The complex is expected to particularly attract global shoppers, who account for about a third of foot traffic at nearby major malls such as Aventura Mall and Sawgrass Mill, according to Miami Today.
"Like our other properties, American Dream Miami will generate tens of thousands of jobs, have an annual economic impact for the State of Florida in the billions and become a highly successful international tourist destination," Triple Five said in a statement.
Triple Five has to the purchase the land, near Miami Lakes, and gain zoning approvals.
The move comes amid struggles by many malls across the country. But luxury as well as destination centers are still seen as an opportunity for mall development. D.J. Busch, an analyst for real estate research company Green Street Advisors, told Reuters, "What’s more important than ever is creating an experience, some type of offerings that you can’t really replicate online."
- Largest mall in the nation proposed for Miami-Dade – Miami Herald
- This new retail complex would make the Mall of America look like a flea market – Fortune
- Canada’s Triple Five proposes largest U.S. shopping mall – Reuters
- 5 Astounding Things About America’s Biggest Mall Planned in Miami – Time
- Global shoppers fuel Miami malls – Miami Today
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Discussion Questions
Do you see destination malls as a way to reinvent the mall shopping experience? How many Mall of Americas can the country fit?
Poll
Not sure how many more we can fit in the U.S. but we sure could use more of them. I’ve been to both malls in Edmonton and Minneapolis. I leave wondering why there are not more. Edmonton is not the most accessible or populated city yet it does well. Miami is a destination shopping hub for foreign shoppers from the Caribbean, Central and South America. I see it doing well.
You learn something every day! People actually shop at the Edmonton Mall and the Mall of America. Who knew?
As proud as I am of the Canadian heritage behind these attractions, why we need more of them I don’t know.
The Miami area is an international destination especially in the winter (no surprise there). That is definitely an advantage over Mall of America’s location which had to become a destination.
The disadvantage is that Miami already has a number of shopping areas that cater to the people who live in the market and the tourists. However none of them will have the distinctive features being touted in the article. I would think the mall would do very well. Some of the jobs it creates will likely come at the expense of the existing retailers in the market.
I read this in our local paper yesterday and enjoyed all the reasons it should be built. Certainly the new jobs and money pumped in to the economy are major factors. As I thought more about it, I began to assess the negative effect it might have on traffic and congestion. The proposed location is at the heart of two major highways always congested with both traffic and accidents. So by adding more car traffic what are we doing but creating havoc? Maybe this project should be looking for a large parcel of undeveloped land in another local location.
I think of Las Vegas and how it has become a family destination while it once was for gamblers only. With the tourist traffic of Florida this new mall can be an added incentive for families to visit and stay in Florida. For residents it adds events and entertainment. If the stores can make shopping pleasant in such a busy environment then the bests of all worlds will be available.
Of course not all American Dream Miami retailers will benefit at the same level. But it’s still better to have even a small share of a lot of revenue, than 100 percent of not much at all.
With the Florida economy shot to pieces this investment will be a lot of fun to watch. I would have considered something in terms of location and patron availability a lot closer to Disney. Or how about a sales tax-free state near an international airport with plenty of hotel and motels? But that’s just what I think.
One of the fascinating things about Miami is our complete lack of interest in expanding the infrastructure. The DOT just keeps making lanes narrower and pretending they did something.
The amount of construction going on in Miami right now is once again off the charts. My only consolation on this one is that I rarely if ever head that way. It’s too far inland. And there’s lots of empty space in the area, so let them have at it.
The expansion of Aventura Mall, on the other hand, now officially makes Biscayne Blvd. north of 163 St. a year-round no fly zone for me.
Soon that will be true of downtown as well. Some bizarre enormous tower is being built to be our Eiffel Tower. And a wonderful science museum (bummer about the location). And a 1.2 million square foot mall and Marriott.
Miami is definitely going to be a great 21st century city, but I’ll shuttle between Wynwood and Miami Shores and be happy about the weather.
It’s certainly a huge investment, however if consumers prove that they will frequent the facility, then it may make sense in the right regions. However I am a bit wary, to say the least, on this size of mall.
In certain locations, this could very well be a winner. As to how many we need? That remains to be seen.
What I like the most about this is the family appeal. I don’t know how much of the Miami tourist traffic is family, but assuming someone did their homework, I’m thinking this might stick.
Miami, like the rest of us in the South, gets a lot of weather. Afternoon thunder storms daily during the summer, etc. What better than packing the family and heading to a Mall with so many attractions?
And that’s my 2 cents.
Living about 80 miles north of Miami, we have seen the bust of the late 2000s, followed by the boom now. I’m pretty skeptical about this one. The relatively new Marlins ballpark hasn’t drawn the expected crowds and the construction going on in the greater Miami area is truly amazing. As of a few months ago, there was literally one big construction project on every block in Miami Beach, for example. I’m guessing the bubble will burst at some point and the fate of this new mega-mall may hang on when that happens.
The headline seems a little misleading: it should really be more along the lines of “should amusement parks have a shopping center included?” (Indeed, one struggles to find retail in Tom’s description beyond “shops and restaurants.”) And given that criteria—we have Disneyland in the West and Disney World in the East—I’m guessing the market is limited. I’d hate to be a bank or local government associated with one of these colossi…even if things work out as planned.
I find these kinds of Malls to be remnants of the “service-tainment” trend of 15 years ago and I think (hope?) there is limited market opportunity for more of them. This particular one in Miami seems to be targeting the same tourist that goes to Orlando. With Orlando having some of the world’s highest grossing (and nicest) outlet malls sandwiched between Disney, Sea World and Universal; American Dream Miami may find it tough to compete.
The American-Dream Miami development sounds pretty interesting but it does not sound like a clone of Mall of America. MOA has a unique set of environmental and infrastructure benefits that ADM (if it moves forward) will likely not share.
1. Location – MOA is very centrally located. It is 5 miles from MSP, 18 miles from downtown Minneapolis and is directly linked to both on one light rail line.
2. Traffic – Nearly twice as many travelers go through Minneapolis/St Paul international airport than go through Miami International.
3. Taxes – Minnesota has no sales tax on shoes or apparel. Sales tax in Miami Dade County is 7%.
4. Competition – There are far fewer retail options in the Minneapolis market and the northern region of the US.
5. Environment – MOA has a pretty captive audience October through April. Miami boasts a very mild climate and 248 sunny days a year.
The entertainment options at ADM sound fantastic, and I think expanding beyond retail is a smart thing for any large development, but the truth is shopping malls are still mostly about shopping. MOA hosts over 40 million annual visitors. The amusement park within it, fewer than a million. MOA entertainment venues have not fared well over the years. The stores on the other hand have remained open and many have thrived through a big economic downturn and the well reported “death” of the suburban shopping mall.
No. I don’t feel it’s a way to reinvent the mall shopping experience.
I feel that these mega-malls satisfy needs beyond the shopping center, they are entertainment centers and applicable in DMAs who also lack cultural centers, communal environments, and identity. They are not appropriate for communities that already have most the aforementioned elements.
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Not sure how many more we can fit in the U.S. but we sure could use more of them. I’ve been to both malls in Edmonton and Minneapolis. I leave wondering why there are not more. Edmonton is not the most accessible or populated city yet it does well. Miami is a destination shopping hub for foreign shoppers from the Caribbean, Central and South America. I see it doing well.
You learn something every day! People actually shop at the Edmonton Mall and the Mall of America. Who knew?
As proud as I am of the Canadian heritage behind these attractions, why we need more of them I don’t know.
The Miami area is an international destination especially in the winter (no surprise there). That is definitely an advantage over Mall of America’s location which had to become a destination.
The disadvantage is that Miami already has a number of shopping areas that cater to the people who live in the market and the tourists. However none of them will have the distinctive features being touted in the article. I would think the mall would do very well. Some of the jobs it creates will likely come at the expense of the existing retailers in the market.
I read this in our local paper yesterday and enjoyed all the reasons it should be built. Certainly the new jobs and money pumped in to the economy are major factors. As I thought more about it, I began to assess the negative effect it might have on traffic and congestion. The proposed location is at the heart of two major highways always congested with both traffic and accidents. So by adding more car traffic what are we doing but creating havoc? Maybe this project should be looking for a large parcel of undeveloped land in another local location.
I think of Las Vegas and how it has become a family destination while it once was for gamblers only. With the tourist traffic of Florida this new mall can be an added incentive for families to visit and stay in Florida. For residents it adds events and entertainment. If the stores can make shopping pleasant in such a busy environment then the bests of all worlds will be available.
Of course not all American Dream Miami retailers will benefit at the same level. But it’s still better to have even a small share of a lot of revenue, than 100 percent of not much at all.
With the Florida economy shot to pieces this investment will be a lot of fun to watch. I would have considered something in terms of location and patron availability a lot closer to Disney. Or how about a sales tax-free state near an international airport with plenty of hotel and motels? But that’s just what I think.
One of the fascinating things about Miami is our complete lack of interest in expanding the infrastructure. The DOT just keeps making lanes narrower and pretending they did something.
The amount of construction going on in Miami right now is once again off the charts. My only consolation on this one is that I rarely if ever head that way. It’s too far inland. And there’s lots of empty space in the area, so let them have at it.
The expansion of Aventura Mall, on the other hand, now officially makes Biscayne Blvd. north of 163 St. a year-round no fly zone for me.
Soon that will be true of downtown as well. Some bizarre enormous tower is being built to be our Eiffel Tower. And a wonderful science museum (bummer about the location). And a 1.2 million square foot mall and Marriott.
Miami is definitely going to be a great 21st century city, but I’ll shuttle between Wynwood and Miami Shores and be happy about the weather.
It’s certainly a huge investment, however if consumers prove that they will frequent the facility, then it may make sense in the right regions. However I am a bit wary, to say the least, on this size of mall.
In certain locations, this could very well be a winner. As to how many we need? That remains to be seen.
What I like the most about this is the family appeal. I don’t know how much of the Miami tourist traffic is family, but assuming someone did their homework, I’m thinking this might stick.
Miami, like the rest of us in the South, gets a lot of weather. Afternoon thunder storms daily during the summer, etc. What better than packing the family and heading to a Mall with so many attractions?
And that’s my 2 cents.
Living about 80 miles north of Miami, we have seen the bust of the late 2000s, followed by the boom now. I’m pretty skeptical about this one. The relatively new Marlins ballpark hasn’t drawn the expected crowds and the construction going on in the greater Miami area is truly amazing. As of a few months ago, there was literally one big construction project on every block in Miami Beach, for example. I’m guessing the bubble will burst at some point and the fate of this new mega-mall may hang on when that happens.
The headline seems a little misleading: it should really be more along the lines of “should amusement parks have a shopping center included?” (Indeed, one struggles to find retail in Tom’s description beyond “shops and restaurants.”) And given that criteria—we have Disneyland in the West and Disney World in the East—I’m guessing the market is limited. I’d hate to be a bank or local government associated with one of these colossi…even if things work out as planned.
I find these kinds of Malls to be remnants of the “service-tainment” trend of 15 years ago and I think (hope?) there is limited market opportunity for more of them. This particular one in Miami seems to be targeting the same tourist that goes to Orlando. With Orlando having some of the world’s highest grossing (and nicest) outlet malls sandwiched between Disney, Sea World and Universal; American Dream Miami may find it tough to compete.
The American-Dream Miami development sounds pretty interesting but it does not sound like a clone of Mall of America. MOA has a unique set of environmental and infrastructure benefits that ADM (if it moves forward) will likely not share.
1. Location – MOA is very centrally located. It is 5 miles from MSP, 18 miles from downtown Minneapolis and is directly linked to both on one light rail line.
2. Traffic – Nearly twice as many travelers go through Minneapolis/St Paul international airport than go through Miami International.
3. Taxes – Minnesota has no sales tax on shoes or apparel. Sales tax in Miami Dade County is 7%.
4. Competition – There are far fewer retail options in the Minneapolis market and the northern region of the US.
5. Environment – MOA has a pretty captive audience October through April. Miami boasts a very mild climate and 248 sunny days a year.
The entertainment options at ADM sound fantastic, and I think expanding beyond retail is a smart thing for any large development, but the truth is shopping malls are still mostly about shopping. MOA hosts over 40 million annual visitors. The amusement park within it, fewer than a million. MOA entertainment venues have not fared well over the years. The stores on the other hand have remained open and many have thrived through a big economic downturn and the well reported “death” of the suburban shopping mall.
No. I don’t feel it’s a way to reinvent the mall shopping experience.
I feel that these mega-malls satisfy needs beyond the shopping center, they are entertainment centers and applicable in DMAs who also lack cultural centers, communal environments, and identity. They are not appropriate for communities that already have most the aforementioned elements.