$2.65B Mall And Amusement Park In NJ Back In The Works
Developer Triple Five is planning to restart construction next month on the long-delayed American Dream Meadowlands megamall and entertainment center in East Rutherford, NJ.
Triple Five is relying on a $2.65B financing plan, which includes no less than $1.15B in public bonds—an arrangement critics call corporate welfare, the Wall Street Journal reports. The 2.9M SF project first broke ground in 2003, but came to a halt this February when the project ran out of money.
The mall is being positioned as a destination attraction for visitors from NYC and abroad, and will include 500 retails stores and restaurants in addition to an amusement park, water park, ski slope, performance theater, ice rink, movie-theater complex, aquarium and miniature-golf course. [WSJ]