Mall of America reaches deal to finance $300M expansion

The Mall of America has reached a deal to finance a $300 million expansion that will include a luxury hotel, an office tower and additional retail and food spaces.

Mall of America Vice President of Public Relations Dan Jasper said the expansion will add about 700,000 square feet to the Mall of America.

The groundbreaking on the project will take place in mid to late March, with construction planned to wrap up in August 2015, Jasper said. Mortenson Construction will help develop the project.

The Shakopee Mdewakanton Sioux Community earlier announced that they were in talks with the mall about partnering on the 330-room hotel included in the project. Jasper wouldn't comment on whether the tribe, which runs the Mystic Lake and Little Six casinos near Shakopee, is a financial partner. A representative of the Shakopee Mdewakanton Sioux Community also declined to comment. She said the tribe will offer more information in coming weeks.

The planned office tower will take up roughly 180,000 square feet, while the hotel will be about 300,000 square feet. The mall spokesperson would not identify how the luxury hotel would be branded.

The expansion will be the second big hotel project anchored at the mall. The first was a $137.5 million development of the Radisson Blu that opened in March 2013.