Once the project is completed by the end of next year, it will be the "nation's largest urban tourist attraction." At 4.7 million sf, it would be 500,000 sf larger than the Mall of America here, according to a ranking by the International Council of Shopping Centers in New York.

"They are not the first to challenge us," says Maureen Cahill, a spokeswoman for the Mall of America. After all, several have claimed to have larger retail areas than the Mall of America, which has about 2.5 million sf devoted just to shopping, such as Woodfield Mall in Schaumburg, IL; Del Amo Fashion Center in Torrance, CA; and the Plaza and the Court in King of Prussia, PA.

Carousel Center may be the first to go after the megamall's status as the largest retail-entertainment complex. Carousel's expansion will triple its space by adding a four-story aquarium, 800 hotel rooms, an indoor golf range and an indoorbass fishing pond and other entertainment facilities.

Even so, the Mall of America's draw of 42 million visitors a year will not be threatened by this development, says Cahill. And even if Carousel completes its expansion, it won't be the largest shopping-entertainment complex for long, Cahill points out. The Mall of America is making plans for its own expansion, which will add 5 million sf to the Mall of America complex, more than doubling its present size.