The Mayor of Miami-Dade is now pushing to build the largest mall in America in a flood prone area of Miami-Dade County. The development would cost as much as $4 billion to construct and eventually employ 25,000 people. The developer owns Mall of America in Minneapolis, which is 4.2 million square feet. This proposed project would be over 200-acres large, which is roughly twice the acreage for Mall of America. By all means, local investment and development are great but this project has some gems. Here are a few:
- invest $4B into a flood prone area by the Everglades given the risk of sea level rise
- invest in a huge mall project when malls are declining in popularity
- close proximity to Aventura Mall and Sawgrass Mills
- offer an artificial ski slope
The drawbacks sound considerable. The attractions are interesting for tourism. Canner Brody and Yan CPAs has provided accounting and tax services for over 65 years. We have offices in Miami Lakes and Downtown Miami on Brickell Ave. Real estate accounting and development is one of our specialties. If you would like in-depth knowledge on real estate accounting and tax, call 305-231-2150 and ask for Andrew Brody.