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MIAMI (CBSMiami) – Aventura Mall is adding a three-level expansion wing, which will include new retailers, restaurants, contemporary art, a food hall and a VIP lounge.

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So what will this mean for parking and traffic?

“We have a lot of tourists,” said one Aventura resident.

The rendering of the 315,000 square-foot expansion wing on the east side of the property is impressive.

“There will be much more traffic, but it will be more money also,” the resident added.

He’s excited about what the expansion will mean to property values.

The addition is designed to create an indoor and outdoor experience and includes a 93-foot tall sculpture by a Belgian artist that Aventura Mall visitors will be able to slide down.

The move is targeting the already growing tourist crowd.

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“It brings more revenue to the city and of course more traffic,” said Aventura Resident Michael Dane. “That’s not that great, but I like the idea because business creates jobs.”

Traffic is always an issue near the mall, but another resident said it’s a price many here are willing to pay.

“It evolved and it has turned into giant goliath,” the resident said. “But through the years, it’s been very steady.”

This man grew up in the neighborhood and remembers when they first built the mall.

At a time when department stores across the country are closing doors, Aventura mall is growing.

It’s bringing new restaurants, contemporary arts and stores like Zara and Under Armour.

“We’re not seeing as many anchor stores,” the resident said. “You’re seeing more boutique stores, the trendy stores that attract the younger population.”

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To ease with the number of cars and visitors the expansion will bring, the mall built a new multi-level garage. It’s partially open now and will fully open with the new wing.