28, 2011, https://www.nytimes.com/2011/04/29/nyregion/deal-reached-to-expand-xanadu-mall-project-in-nj.html (Last Visited June 22, 2018). [213] Richard Perez Pena, Fix Xanadu? Triple Five Group announced intent to take over the mall in May 2011, and on July 31, 2013, officially gained control of the mall and the surrounding site. [203]  The list of current retail shops will include: “Saks, Saks Off Fifth, Aritza, Banana Republic, Century 21, Gap, Hermes, Lululemon, MAC, Microsoft, Pink, Uniqlo, Victoria’s Secret and Zara,” to name a few. Firm forecasts “No light at the end of the tunnel,” USA Today, Feb. 14, 2019, https://www.usatoday.com/story/money/2019/02/13/more-store-closures-expected-2019-new-report/2865505002/. 2002, http://www.teterboro-online.com/images/mead/prop1/arenarfp6-26.pdf  (Last visited May 22, 2018). Joseph Ferriero corruption trial opens with widely varying portrayals", "Developer testifying in Ferriero trial says $1.7M wasn't a bribe", "Ferriero convicted on racketeering count; ex-Democratic chief used political clout for profit", "American Dream Meadowlands bonds interest rate set as revival looms", $1.3B, 4.8MSF Xanadu Project Will Transform 'Swamps of Jersey', "Meadowlands Xanadu Unveils First Wave of Major Tenants, Consumer Brands and Entertainment Experiences", "American Dream Meadowlands shopping center may not be open for 2014 Super Bowl in New Jersey". The most distinctive attraction is Madrid SnowZone, a huge covered track, used for skiing and to go snowboarding. [47] By the time Colony Capital, LLC (Colony Capital) took control, Mills had a $458 million stake in Xanadu, and the company was seemingly betting it all on Xanadu, even selling some of its stock in its other properties. Financing the Meadowlands American Dream, Financing for the Meadowlands project has been an issue for developers in the past but, the Ghermezians and their aggressive negotiation tactics seem to have paid off. “I think the situation for payment on the bonds has gotten more tenuous,” Lisa Washburn, managing director at bond research firm Municipal Market Analytics, told The Wall Street Journal. 1, 2018). The company also owns the American Dream, which opened at the Meadowlands Sports Complex in New Jersey on October 25, 2019. Among these were H&M, Primark, Zara, and IT'SUGAR, with indications that others would be announced closer to the date of reopening. Jacqueline DeBuse, a spokesperson for Target, believes downsizing allows for “a really flexible design and allow[s Target] to go to neighborhoods or urban areas where a traditional-sized Target wouldn’t fit, and allow[s them] to reach new guests.”[192]  Reaching new clientele could be the key to helping these retailers survive. [6] Richard Perez-Pena, Fix Xanadu? [50] John Spence, Mills Corp. gets ‘Xanadu’ funding, Market Watch, Aug. 22, 2006, https://www.marketwatch.com/story/mills-corp-surges-on-xanadu-shopping-complex-financing. The mall would also unveil its first major retail tenants, 17 of which had been given certificates of occupancy and were ready to open. Albero dei Sogni/Secret Garden – a tree-like sculpture consisting of more than 75,000 LED lights and 25,000 leaves that play music during intervals several times a day, A 60-foot fashion fountain that can be converted into a catwalk in seconds, Interactive museums featuring with extravagant props and backdrops, Museum-scale interiors displaying artwork by local and international artists. [12] New Jersey Sports and Exposition Authority, Meadowlands Sports Complex: Redevelopment of the Continental Airlines Arena Site, Jun.


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