Triple Five also has to line up commercial loans to build the 175-acre project at a time when traditional malls are under siege from the rise of online shopping.īut Thursday's vote caps two years of extensive lobbying, negotiations and closed-door maneuvering from the Canadian-based developer and its deep-pocketed foes in South Florida's existing retail industry. Alice Bravo, Miami-Dade's transportation director, said no county dollars would be used for American Dream road projects. Florida has already agreed to some of the roadway widening and interchange expansions, but Triple Five must pay for anything that the state won't fund.
The company can't proceed without Florida implementing about $200 million worth of roadway improvements. It must obtain a string of permits from the county after clearing regulatory milestones, including environmental mitigation, sewage capacity and water use.
Triple Five still faces significant hurdles before it can start construction on a project it has said will cost roughly $4 billion to develop. Zoning vote is next, including the more complex development agreement. Miami-Dade commissioners vote 11 to 1 for land-use changes needed to develop American Dream Miami.
0 kommentar(er)
