Southland Mall in Cutler Bay will be revamped into a new mixed-use facility with retail, residential, work and leisure spaces. This project will be called Southplace City Center, a billion dollar reimagining of what was once a struggling mall.
The owners envision Southplace Town Center as “a city within a city” that will utilize the mall’s original square footage, but with an additional 150,000 square feet that will add new retail space and food and beverage operators. drinks.
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 are now looking to completely transform it.
The property is close to the Florida Turnpike to the east and US 1 to the west, so the future downtown Southplace is right next to major suburban hubs.
The new plans include 4,000 residential units and 500,000 square feet of retail. The focus will be on aesthetic improvements and 4,395 apartments at market prices, according to the owners.
New retail and restaurant concepts, an artificial 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, the owners say, with a pedestrian bridge that connects to new bus rapid transit stops slated to open in 2024. The community is expected to be very accessible walkable with plenty of trails and bike lanes to reduce car use.
“When we spoke to the city, we asked them what the pressing issues were in the Cutler Bay community,” said Ron Gaiter, director of development at Electra America. “What we heard was housing, quality retail, entertainment, the 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 about deeply,” Cutler Bay Mayor Tim Meerbott said in a news release. “It is extremely important to the city council and me to ensure that this project aligns with our community’s vision and has the right mix of uses. The site is ready for change and this project will tick many boxes on our community’s wish list – thousands of jobs, more restaurants, entertainment and a new look, to name a few.
This project is expected to take up to seven years with several development phases.
“We have applied for phase one, which includes 470 apartment units and 14,000 square feet of retail, food and beverage,” Gaither said. “This will be a multi-phase project that will be developed over seven years. To date, we do not have a precise timetable for each phase. I think the expectation is that over the next seven years we’ll build this at a pace that matches market demand.
The first phase will focus primarily on providing quality housing and supporting existing retail, according to Gaither. In addition to the 470 apartments, there are plans to revitalize the mall aspect of the property.
“This plan is being worked on as we speak and we anticipate that before the end of the year we will actually start executing part of this plan and you will see significant improvements in the mall,” said said Mr. Gaither.
This is about bringing positive results to Cutler Bay, according to Gaither. It is expected to bring a lot of job opportunities to Cutler Bay. The entire project is expected to create 2,700 jobs and generate $44 million in property tax revenue in the first five years.