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The Shark Tank: Miami Mega Mall Developer Says Taxpayer Dollars “Not Needed”

Retail malls around the country are closing, but the fascination with amusement or “entertainment retail centers” could be the next big thing for retail.

People will go to an amusement park to entertain the family before they go to a mall to shop. That is a given. So, with that said, could a retail component within such an entertainment or “mega mall” facility benefit from the foot traffic?

Probably.

The “mega mall” and entertainment project being considered for construction in Northwest Miami-Dade County has faced intense opposition over the possible (most likely) increase in traffic congestion that the mall would add to the region.

Aside from the possible traffic dilemma that developers face is finding a way to fund the entire project.

Remember, this mall is modeled after the American Dream Meadowlands mall in New Jersey that has been under construction for more than a decade, and has been partially subsidized by taxpayer dollars.

Miamians do not want to flip the bill for another project like the disastrous Miami Marlins baseball stadium.

Opponents of the project are arguing that the Miami-Dade County Commission and Florida Legislature could eventually fund the “mega mall.”

According to developer Triple Five’s project manager Bob Gorlow, who we spoke to via telephone, the group “does not plan to ask for taxpayer dollars from the county.”

But what about the state?

Gorlow says that Triple Five is “asking anybody to put in money,” but “don’t plan to ask for taxpayer money” from anyone, especially from the state of Florida.

While Gorlow says that taxpayer dollars are “not needed,” he also stated that “it may happen” because Triple Five or any other developer, would not turn down any donation or investment into a project of this size.

Only time will tell if lawmakers, both at the county and state level, will set aside money to help Triple Five’s Miami endeavor.

The construction start date for mall is 2018 with completion slated for 2022.

Read more here: http://shark-tank.com/2017/01/24/miami-mega-mall-developer-says-taxpayer-dollars-not-needed/

by Javier Manjarres