Graham Cos. plans project next to American Dream

Graham Companies plans to build a $1.55 billion mixed-use development near the planned American Dream Miami shopping mall and entertainment center in northwest Miami-Dade County.

The South Florida Business Journal also reported that Graham Companies plans a phased development of 2,000 rental apartments, one million square feet of retail stores and a business park spanning three million square feet.

Family-owned Graham Companies expects its mixed-use development will benefit from its proximity to the American Dream Miami shopping mall, expected to attract 30 million people a year.

Triple Five Group, the developer of the American Dream Miami, acquired much of the land for the planned 6.2 million-square foot shopping and entertainment center  from Graham Companies.

The two companies are expected to file studies of the traffic impact of both developments for regulatory review.

Graham Companies plans to start building its mixed-used development in 2018 and to finish it in phases through 2030. A rezoning of the land could designate it as an employment center, which would permit the residential component of the development.

The retail component of the development primarily would serve the local neighborhood.

“We have no plans on trying to compete with American Dream on the retail. No one in the world can do it like them,” Stuart Wylie, president and CEO of Graham Companies, told the South Florida Business Journal. [South Florida Business Journal] — Mike Seemuth