Triple Five Group

More Top Stories, New Developments, New Jersey

Rendering courtesy of Triple Five Group

After nearly two decades of construction delays, New Jersey’s mega-mall American Dream partially opened last October. Six months later, the three-million-square-foot venue was forced to close its doors because of the coronavirus pandemic. Now, even as the state continues its gradual reopening, there is still no reopening date for the $5 billion mall. As NJ.com reported, owner Triple Five Group has missed three consecutive mortgage payments and retail tenants are getting out of their leases at the space.

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New Developments, New Jersey

Renderings courtesy of Triple Five/ American Dream.

As 6sqft reported in July, the three-million-square-foot American Dream mega-mall with an indoor water park, amusement rides, and a ski slope adjacent East Rutherford, New Jersey’s Met Life Stadium, had announced an October 25 opening. Now, after what may add up to $1 billion in taxpayer incentives, the mall that was formerly known as Xanadu is open, the New York Times reports. The opening may disappoint anyone waiting to shop: The property’s owner, Canadian real estate firm Triple Five Group, says the mall’s first phase consists of an ice-skating rink, a Nickelodeon amusement park, and regular “slime” shows–with the rest to come in subsequent “chapters.”

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