Transformative Trend: South Florida Malls Undergo Conversion into Mixed-Use Developments by Major Developers
May 3, 2024
Electra America and BH Group are set to revolutionize the landscape of Cutler Bay’s Southland Mall with their visionary project, Southplace City Center. The ambitious $1 billion makeover commences with demolishing a big box store currently leased by Ross Dress For Less, paving the way for a groundbreaking mixed-use development.
The inaugural phase of Southplace City Center encompasses converting the seven-story office building into a luxurious high-rise condo-hotel soaring over 1,000 feet. With 250 rooms and suites and an array of amenities, including six dining venues curated by Dolce&Gabbana, the project promises a lifestyle of unparalleled sophistication.
Setting a new standard in urban living, Southplace City Center will encompass 4,395 apartments and condos, a 150-room hotel, 60,000 square feet of medical office space, 150,000 square feet of retail outlets, and a community amphitheater. The existing retail facility, spanning 808,776 square feet, undergoes a significant renovation, serving as the nucleus of this vibrant new community.
American Landmark, a subsidiary of Electra America, spearheads the development’s multifamily component. It features 470 apartments, 14,000 square feet of retail, and a parking garage and is poised to redefine residential living in the heart of Miami-Dade County.
Joe Lubeck, the visionary leader behind Electra America and American Landmark, anticipates Southplace City Center to catalyze a trend in mall-to-mixed-use transformations, attracting developers keen to capitalize on the evolving retail landscape in South Florida. With a burgeoning demand for quality retail, dining, and residential options, the project emerges as a beacon of innovation and opportunity.
Joining the ranks of industry giants like Aimco, Codina Partners, and Midtown Equities, Electra America underscores the transformative potential inherent in repurposing indoor malls into vibrant mixed-use communities. Fuelled by population growth and an insatiable demand for housing, these conversions represent a paradigm shift in commercial real estate dynamics.
The passage of the Florida Live Local Act further incentivizes developers to embark on mall redevelopments, offering tax incentives and streamlined zoning regulations for mixed-use projects with a focus on workforce housing. As traditional malls evolve to meet the demands of modern urban living, developers seize upon the vast potential presented by underutilized retail spaces and expansive parking lots.
Once emblematic of American retail, Sears stores emerge as prime targets for redevelopment, with Seritage Growth Properties leading the charge in repurposing these spaces for mixed-use projects. From Southland Mall to Westland Mall, these ambitious endeavors herald a new era of urban revitalization, anchored by vibrant communities brimming with retail, residential, and recreational amenities.
As Electra America and BH Group embark on their transformative journey, Southplace City Center stands as a testament to the enduring spirit of innovation and adaptability shaping the future of urban living in South Florida.
