The United States’ largest shopping center will soon be built in Florida’s Miami-Dade County, The Miami Herald reports.
What’s going on: The American Dream Miami mall is expected to be built in late 2021, The Herald reports.
- Triple Five Worldwide, a Canadian development company, will start construction that same year, according to Miguel Diaz de la Portilla, who works for a law firm that represents the company and spoke with the Herald.
- The developer plans to spend between $4.5 billion and $5 billion to build the mall.
- The location will be in northwest Miami-Dade County.
- The mall will open in 2025 if plans pan out.
- Previous expectations called for the project to be finished by 2023.
Nearby: Miami developer David Martin announced earlier this month the purchase of 1,400 apartments nearby the mall, which could be bought by employees of the shopping center, per the South Florida Sun Sentinel.
- Martin: “Adding nearly 1,400 new units near the border between Miami-Dade and Broward counties will address pent-up demand for rental housing in South Florida.”
- Rental prices could be between $1.400 to $1,600 a month for one-bedroom apartments. It could cost $1,800 to $2,200 per month for a two-bedroom location. Three bedrooms would cost you close to $2,500, according to South Florida Sun Sentinel.