NORTH JERSEY – After years of delays, there may now be two private developers answering the state’s call to revive a $2.3 billion development project on Route 3 in East Rutherford, outside the Secaucus border.
NJ.com reported today that the head of Gov. Chris Christie’s new commission on recreation and sports said that a new company is interested n the project.
While the commission head, Jon Hanson, wouldn’t name the company, a source told the website that it is a Canadian conglomerate that owns the Mall of America in Minnesota and a mall in Canada. The company is Triple Five.
As reported earlier by the Reporter, Steven Ross, CEO of Related Companies, a New York City-based real estate development company with a reputation for salvaging troubled developments, offered a preliminary overview of his vision for the stalled entertainment/sports/shopping center in May at a trade event in Las Vegas.
The state would like to see the development completed and open by 2012.
Another developer may get involved in Xanadu project
