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Southland Mall in Cutler Bay will be getting a huge makeover to become a new multi-use facility with shops, residential spaces, workspaces and recreational space. This project will be called Southplace City Center, a $1 billion reinvention of what was once a troubled mall.
Owners envision Southplace City Center as “a city within a city” that will use up the original square footage of the mall but with an additional 150,000 square feet that will add new retail space and food and beverage operators.
The 800,776-square-foot property was acquired by Miami-based private real estate investment firm BH Group and real estate private equity firm Electra America in April. They spent $100.35 million on the mall and now seek to transform it completely.
The property is near Florida’s Turnpike in the east and US 1 to the west, which makes the location of the soon-to-be Southplace City Center right beside major suburban crossroads.
The new plans include 4,000 residential units and 500,000 square feet of retail. There will be focus on cosmetic improvements and 4,395 market-rate apartments, the owners say.
New retail and restaurants concepts, a man-made lake, open green space, a community amphitheater and 60,000 square feet of medical office space are also planned. The entire facility is intended to be very pedestrian friendly, owners say, with a pedestrian bridge that connects to the new bus rapid transit stops that are expected to open in 2024. The community is planned to be very walkable with many trails and bike paths to reduce use of cars.
“When we talked to the city, we asked them what some pressing matters in the Cutler Bay community were,” said Ron Gaiter, chief development officer at Electra America. “What we heard was housing, quality retail, entertainment, a need for one of the largest parcels in our area to become much more pedestrian-friendly. So that really guided our vision for the master plan.”
“The future of this site is one that our residents care deeply about,” said Tim Meerbott, mayor of Cutler Bay, in a press release. “Ensuring that this project aligns with our community’s vision and has a proper mix of use is extremely important to the town council and me. The site is ready for change and this project will check so many boxes on our community’s wish list – thousands of jobs, more restaurants, entertainment, and a fresh look, to name a few.”
This project is expected to take up to seven years with multiple development phases.
“We did an application for phase one, which is 470 units of apartments and 14,000 square feet of retail, food and beverage,” said Mr. Gaither. “This is going to be a multi-phase project that will be developed over seven years. To date, we don’t have a specific timing for each phase. I think the expectation is that over the next seven years, we will build this out in a pace that fits with the market demand.”
The first phase will primarily be focused on bringing quality housing and support the existing retail, according to Mr. Gaither. In addition to the 470 apartment units, there are plans to revitalize the mall aspect of the property.
“That plan is being scoped up as we speak and we expect before the end of the year we will actually start to execute part of that plan and you will see some meaningful improvements in the mall,” said Mr. Gaither.
This is to bring positive outcomes to Cutler Bay, according to Mr. Gaither. It is expected to bring lots of employment opportunities to Cutler Bay. The total project is anticipated to create 2,700 jobs and generate $44 million in property tax revenue in the first five years.
https://www.miamitodaynews.com/2022/09/27/ex-southland-mall-getting-billion-dollar-reinvention-under-new-name/
