BH Group and Electra America have secured a $125 million construction loan from Tyko Capital for the redevelopment of Southland Mall in Cutler Bay. The property, which spans 95 acres at 20505 S. Dixie Highway, includes the original mall built in 1959.
According to reports from the South Florida Business Journal, BH Group and Electra America acquired the mall out of foreclosure for $100.35 million in 2022. Later that year, they also purchased the former Sears building for an additional $34 million.
The developers have announced plans to rename and revamp the site as “Southplace City Center,” with a projected budget of $1 billion. The new development will include over 4,395 apartments, more than half a million square feet of retail space within the existing mall area including dining and entertainment options; an additional 150,000 square feet of new retail space on surrounding parcels; a hotel with approximately150 rooms; as well as medical office space totaling around60 ,000 square feet.
MSA Architects based in Miami has been selected to design this ambitious project.
