Southland mall in Cutler Bay is on track to be replaced by Southplace City Center as the project is soon to deliver residential units, dining options and updated shopping options. Apartment construction is expected to start early in 2025 and stores are already building out space. Electra America, a real estate private equity firm, and BH Group, a Miami-based private real estate investment firm, purchased Southland mall in May 2022 and began the redevelopment process. “Our goal with the project,” said Joe Lubeck, managing partner of Electra America, “was to provide a live, work and shop environment for the residents of Cutler Bay, and in particular, for the new residents who will be living there hopefully over the next few years. The total project cost will be well above a billion dollars, and will incorporate approximately 5,000 residential units, including rental apartments, condominium units, senior or active adult living, as well as a medical center, a hotel, and, most importantly, a total redevelopment and modernization of the existing mall.” Mr. Lubeck said the property was purchased very opportunistically in 2022, having been in default with its lender. “Our co-developer on the project is the BH group, a well-known developer out of Miami, and we’re very excited about the acquisition on the project. The city of Cutler Bay and the county of Miami-Dade has been extremely supportive and cooperative in working with us to provide a true new city center for South Miami-Dade and Cutler Bay and to revitalize this very strategic piece of property.” The property encompasses about 100 acres, he said. Currently, it is planned to start road, water and sewer reconfiguration in the first quarter of 2025. Build-outs on some stores that are relocating are in progress. Mr. Lubeck said DSW is moving into a new space and Ross is moving into “a new premium space.” Additionally, developers are “finalizing negotiations for a major pet retailer to join the plan.” The relocation of key retailers within the existing mall is in preparation for demolition of the interior enclosed mall, said Mr. Lubeck, “which in today’s shopping environment is less desirable. Our research and studies indicate that consumers prefer the ability to park near and walk directly into the stores, and they will have that access along with very newly configured and very accessible parking. Also, very important is there will be a what we’ll call a common area for community events, which may include such things as concerts, farmers market, and that’s really where we are.” Mr. Lubeck explained the existing mall will ultimately have the interior portion demolished and “will become a major retail center with easy access from parking and drive-up for the customers.” Additionally, existing retailers such as Macy’s, JCPenney, LA Fitness, Regal theater, Ross, T Mobile, Victoria’s Secret, Five Below, and DSW will have a long-term presence in the redesigned center, he said. In early 2025, said Mr. Lubeck, construction is expected to begin for the first apartment building with about 360 apartments “located directly adjacent to the retail center. The work so far has included the demolition of the prior Sears store, and in process today is the demolition of the Kmart building.” The plan is largely as envisioned, he said. Developers have been pleased with the support from not only the community, he said, but also “from the reception that we’ve gotten from major national retailers who feel this is just a fabulous plan and want to be part of the future of Cutler Bay and South Miami-Dade.” Related Posts:Southplace City Center fast-tracks 5- to 7-year buildoutSouthplace City Center replacing sleepy Southland mallEx-Southland Mall getting billion-dollar reinvention…Original vision of Triple Give Group’s American…Major Overtown affordable housing project wins OKThe post Apartments about to rise as Southplace stores are built out appeared first on Miami Today.