MEADOWLANDS — The once-troubled American Dream mega-mall in the Meadowlands is attracting a strong lineup of retail tenants, according to reports. Nj.com stated it obtained a brochure from Alberta-based developer Triple Five listing retailers planning to open stores in American Dream, including Victoria’s Secret, The Gap, Saks Fifth Avenue, and Lord & Taylor. The brochure also states that FAO Schwarz will be moving from its Manhattan headquarters to the Meadowlands.
Among the other attractions planned for the American Dream facility are an indoor water park, an amusement park, an aquarium, Imax theaters, and a permanent Cirque du Soleil theater.
American Dream had a strong presence at the International Council of Shopping Centers’ annual retail convention in the Jacob Javits Convention Center over the weekend. In addition to being a corporate sponsor of the convention, Triple Five took out ads at all entrances to the Javits Center and in the convention program, stating “Shop American Dream. Opening Holiday 2016.”
Nj.com reported that Triple Five listed 50 retailers by name as committed to American Dream, with letters of intent to lease from 155 retailers and 93 completed leases from unspecified retailers. However, some at the convention expressed doubts that the project will actually come to fruition as planned, citing the failure of two other developers to successfully launch a mall at the same location. Retailers who had heard sales pitches for a Meadowlands mall from those previous developers might feel a sense of déjà vu hearing similar hype from Triple Five. Funding for the project, slated to cost $2 billion, remains unresolved as well, with questions remaining about the issuance of bonds to pay for part of the construction costs.
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