Meadowlands Xanadu
Encyclopedia
American Dream Meadowlands (ADM) (formerly known as "Meadowlands Xanadu") is a retail and entertainment complex being constructed in the Meadowlands Sports Complex
in East Rutherford, Bergen County
, New Jersey
, in the New York City Metropolitan Area. The first phase of the five-story complex is scheduled to open in Autumn 2013 and the second phase in Spring 2014. With 3000000 square feet (278,709.1 m²) of leasable area, American Dream will be the second-largest combined entertainment, sports, and retail complex in the United States
. It will be accessible via the Meadowlands Rail Line
.
and the Mack-Cali realty corporation. The project was billed by Mills chairman and executive officer Laurence E. Siegel as "...a new standard for bringing lifestyle, recreation, sports and family entertainment offerings together in one location." Ground was broken on the complex on September 29, 2004, and, at the time, was expected to open two years later.
In late 2007, the parking garages were completed to alleviate the loss of the surface lots due to the project's construction. By 2008, the exterior was complete, as well as the structure for the indoor ski slope. By January 2009, 80% of the construction was completed, with construction still ongoing inside.
In May 2009, construction on Xanadu came to a halt after a subsidiary of bankrupt Lehman Brothers
missed payments, causing other lenders to withdraw from the project, and lost $500 million worth of construction funding. While developers stated the mall was 70% leased, it is unknown how many retailers stayed leased while the mall was delayed. In August 2009, Cabela's
, a major anchor, announced that it did not plan to open its Meadowlands location until late 2010. Around the same time, the complex's website was relaunched with the new Xanadu Meadowlands name.
In 2010, Stephen Ross
, a billionaire who owns The Related Companies
in Manhattan, stated that he could finish the project by the end of 2010, possibly with a new name and look. In May 2010, the managing of the mall was handed over to Related Companies, and the "Xanadu" name had been dropped, changing the name to "The Meadowlands".
On August 10, 2010 Colony Capital surrendered control of the development of the mall to five lenders. A special governor's commission on the state's gaming and entertainment industry is filed recommendations to Governor of New Jersey
. Four parties were noted to be interested in redeveloping the project. The Wall Street Journal on December 24, 2010 reported that Triple Five signed a letter of intent to invest in and finish the stalled mall.
On February 1, 2011, after a record-breaking month of snow for the area, a 50 to 60-foot long section of the eastern wall had buckled and a horizontal crease was apparent on the complex's indoor ski slope. Two days later, on February 3, after workers were attempting to melt snow from the ski slope's roof, ice build-up caused the eastern wall to fail and suffer a partial collapse along an approximately 150 foot length of roof.
Michael Beckerman, a spokesman for the project’s lending group stated “the Lender Group is aware of the damage to the roof caused by excessive snow and ice, but does not feel the damage affects the integrity of the structure. As such, the group has filed an insurance claim, and once the weather turns warmer, it will assess the damages and fix whatever is necessary.”
On April 29, 2011 Triple Five Group
and the New Jersey Sports and Exposition Authority
completed a deal, with Triple Five assuming ownership of the mall and renaming it to "American Dream Meadowlands", with an opening date of Autumn 2013, months before the Super Bowl XLVIII
at MetLife Stadium, just across the highway. The deal was officially announced on May 3, 2011 and it was announced Triple Five had secured land across the highway from the mall to construct a domed theme park and water park, opening in the Spring of 2014.
and New Jersey Route 3, is a combination of aluminum composite and aluminum siding, of various colors including turquoise, red, yellow, and green. The north end of the building contains the indoor ski slope. Most politicians and the public have equally criticized the building's appearance calling it "The ugliest building in New Jersey". Former Acting New Jersey Governor Richard Codey
was quoted in the New York Times as calling the structure "yucky-looking". In response to Codey's criticism, and that of other vocal New Jersey leaders, the New Jersey Sports and Exposition Authority (which owns the land that Xanadu sits on) wrote in a letter to the developers that the NJSEA's Board of Directors has "widespread concerns with the current appearance" of the building.
Along with assuming ownership of the mall in late April 2011, Triple Five Group has stated they will redesign the exterior, painting it light blue and adding signage, lighting, and glass to make it look more appealing.
The project will include many attractions, similar to the other Triple Five malls:
with 26 passenger capsules, is to be constructed facing the NJ Turnpike. Originally due to open in 2009, the project was then put on hold until 2010 to avoid construction interfering with the New Jersey Nets
2009-2010 season. With the overall complex's delayed opening, the Pepsi Globe is also on hold.
This was the original plan of the mall, featuring "districts", as seen in Madrid Xanadú
.
Cancelled:
From traffic concerns to environmental concerns, there are many who have opposed the idea of building a permanent shopping center within the Meadowlands Sports Complex. The project is being built on state-owned land, and $81.3 million was spent on transportation improvements such as new off and on ramps and a train station at the Sports Complex. Some have also called the mall a "colossal real estate nightmare" and "perhaps the worst retail failure ever".
The New York Giants had proposed that the mall be closed on days when the NFL team had home games, as part of the deal to build a New Meadowlands Stadium
to replace Giants Stadium
. The Giants then made an agreement with then-Xanadu to allow the complex to be open on game days, with the option to sue if traffic became a concern, an agreement which remains in effect now that the New Meadowlands Stadium
will be co-owned with the New York Jets
.
The complex was originally developed by the Mills Corporation
in partnership with Mack-Cali Realty Corporation, with financing by Kan Am. In May 2006, the U.S. Securities and Exchange Commission (SEC) announced it was formally investigating the Mills Corporation
after the company announced that it was restating four years of earnings due to executive misconduct and accounting errors. Later in the year, an analyst at Bank of America Securities pushed Mills Corporation to drop the project, citing significant cost overruns. Subsequently, the troubled developer sold their stake in the mall project to private investment firm Colony Capital; the Mills Corporation collapsed soon after.
The Federal Aviation Administration
expressed concerns with the height of the observation wheel (~330 ft) affecting local air traffic to and from Teterboro Airport
. The height for the observation wheel has since been reduced to 286 ft (87.2 m).
In January 2010, a report prepared by governor Chris Christie's transition team said that the complex “appears to be a failed business model” and that New Jersey needs to tell the owners to “open or surrender the property.” The report also stated that “There is no leasing plan making material on-site progress. The physical activities of construction are at a standstill, if not abandonment. The construction loan is out of balance. There are no monies readily available to finish construction of public areas or tenant improvements. Most, if not all, of announced major tenants have an ‘escape clause’ solely dependent on leasing — or lack thereof.”
Meadowlands Sports Complex
The MetLife Sports Complex is a sports and entertainment facility located in East Rutherford, Bergen County, New Jersey, United States, owned and operated by the New Jersey Sports and Exposition Authority...
in East Rutherford, Bergen County
Bergen County, New Jersey
Bergen County is the most populous county of the state of New Jersey, United States. As of the 2010 United States Census, its population was 905,116. The county is part of the New York City Metropolitan Area. Its county seat is Hackensack...
, New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
, in the New York City Metropolitan Area. The first phase of the five-story complex is scheduled to open in Autumn 2013 and the second phase in Spring 2014. With 3000000 square feet (278,709.1 m²) of leasable area, American Dream will be the second-largest combined entertainment, sports, and retail complex in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. It will be accessible via the Meadowlands Rail Line
Meadowlands Rail Line
Meadowlands Rail Line is a rail line in New Jersey, United States, operated by New Jersey Transit . Trains run between the MetLife Sports Complex and Secaucus Junction, some with continuing service to Hoboken Terminal...
.
History and progress
The project was officially approved in late 2003 as a joint venture between the former Mills CorporationMills Corporation
The Mills Corporation was a publicly traded real estate investment trust headquartered in Arlington, Virginia, United States, acquired on April 3, 2007 by an investment group composed of Simon Property Group and Farallon Capital Management. The company developed, owned, and operated major...
and the Mack-Cali realty corporation. The project was billed by Mills chairman and executive officer Laurence E. Siegel as "...a new standard for bringing lifestyle, recreation, sports and family entertainment offerings together in one location." Ground was broken on the complex on September 29, 2004, and, at the time, was expected to open two years later.
In late 2007, the parking garages were completed to alleviate the loss of the surface lots due to the project's construction. By 2008, the exterior was complete, as well as the structure for the indoor ski slope. By January 2009, 80% of the construction was completed, with construction still ongoing inside.
In May 2009, construction on Xanadu came to a halt after a subsidiary of bankrupt Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
missed payments, causing other lenders to withdraw from the project, and lost $500 million worth of construction funding. While developers stated the mall was 70% leased, it is unknown how many retailers stayed leased while the mall was delayed. In August 2009, Cabela's
Cabela's
Cabela's is a direct marketer and specialty retailer of hunting, fishing, camping and related outdoor recreation merchandise, based in Sidney, Nebraska. It also has "Trophy Properties LLC , "Outdoor Adventures" , and the "Gun Library"...
, a major anchor, announced that it did not plan to open its Meadowlands location until late 2010. Around the same time, the complex's website was relaunched with the new Xanadu Meadowlands name.
In 2010, Stephen Ross
Stephen M. Ross
Stephen M. Ross is an American real estate developer. He is the founder, chairman and CEO of The Related Companies, L.P., a New York City-based real estate development company. It is jointly owned by his business partner, Jorge M. Perez. He owns 95% of the Miami Dolphins NFL football franchise and...
, a billionaire who owns The Related Companies
The Related Companies
The Related Companies L.P. is a real estate developer, manager and financier. The developer of numerous high-profile projects in New York City and around the United States, Related is best known for its historic 2.8 million-square-foot $1,700,000,000 Time Warner Center on Columbus Circle...
in Manhattan, stated that he could finish the project by the end of 2010, possibly with a new name and look. In May 2010, the managing of the mall was handed over to Related Companies, and the "Xanadu" name had been dropped, changing the name to "The Meadowlands".
On August 10, 2010 Colony Capital surrendered control of the development of the mall to five lenders. A special governor's commission on the state's gaming and entertainment industry is filed recommendations to Governor of New Jersey
Governor of New Jersey
The Office of the Governor of New Jersey is the executive branch for the U.S. state of New Jersey. The office of Governor is an elected position, for which elected officials serve four year terms. While individual politicians may serve as many terms as they can be elected to, Governors cannot be...
. Four parties were noted to be interested in redeveloping the project. The Wall Street Journal on December 24, 2010 reported that Triple Five signed a letter of intent to invest in and finish the stalled mall.
On February 1, 2011, after a record-breaking month of snow for the area, a 50 to 60-foot long section of the eastern wall had buckled and a horizontal crease was apparent on the complex's indoor ski slope. Two days later, on February 3, after workers were attempting to melt snow from the ski slope's roof, ice build-up caused the eastern wall to fail and suffer a partial collapse along an approximately 150 foot length of roof.
Michael Beckerman, a spokesman for the project’s lending group stated “the Lender Group is aware of the damage to the roof caused by excessive snow and ice, but does not feel the damage affects the integrity of the structure. As such, the group has filed an insurance claim, and once the weather turns warmer, it will assess the damages and fix whatever is necessary.”
On April 29, 2011 Triple Five Group
Triple Five Group
Triple Five Group is a shopping mall owner and operator, hotel operator and real estate company based in Edmonton, Alberta, Canada. They are well known for their ownership of the Mall of America and West Edmonton Mall...
and the New Jersey Sports and Exposition Authority
New Jersey Sports and Exposition Authority
The New Jersey Sports and Exposition Authority is an independent authority established by the State of New Jersey in 1971 to oversee the Meadowlands Sports Complex. Originally consisting of Giants Stadium and the Meadowlands Racetrack in 1976, Brendan Byrne Arena was added to the complex in...
completed a deal, with Triple Five assuming ownership of the mall and renaming it to "American Dream Meadowlands", with an opening date of Autumn 2013, months before the Super Bowl XLVIII
Super Bowl XLVIII
Super Bowl XLVIII will be the 48th edition of the Super Bowl in American football, and the 44th annual championship game of the modern-era National Football League . It will be held on February 2, 2014 at MetLife Stadium in East Rutherford, New Jersey...
at MetLife Stadium, just across the highway. The deal was officially announced on May 3, 2011 and it was announced Triple Five had secured land across the highway from the mall to construct a domed theme park and water park, opening in the Spring of 2014.
Architecture
The exterior of the project, which is visible from the New Jersey TurnpikeNew Jersey Turnpike
The New Jersey Turnpike is a toll road in New Jersey, maintained by the New Jersey Turnpike Authority. According to the International Bridge, Tunnel and Turnpike Association, the Turnpike is the nation's sixth-busiest toll road and is among one of the most heavily traveled highways in the United...
and New Jersey Route 3, is a combination of aluminum composite and aluminum siding, of various colors including turquoise, red, yellow, and green. The north end of the building contains the indoor ski slope. Most politicians and the public have equally criticized the building's appearance calling it "The ugliest building in New Jersey". Former Acting New Jersey Governor Richard Codey
Richard Codey
Richard James Codey is an American Democratic Party politician who served as the 53rd Governor of New Jersey from November 2004 to January 2006. He has served in the New Jersey Senate since 1981 and served as the President of the Senate from 2002 to January 2010. He represents the 27th Legislative...
was quoted in the New York Times as calling the structure "yucky-looking". In response to Codey's criticism, and that of other vocal New Jersey leaders, the New Jersey Sports and Exposition Authority (which owns the land that Xanadu sits on) wrote in a letter to the developers that the NJSEA's Board of Directors has "widespread concerns with the current appearance" of the building.
Along with assuming ownership of the mall in late April 2011, Triple Five Group has stated they will redesign the exterior, painting it light blue and adding signage, lighting, and glass to make it look more appealing.
Main attractions
- SkiDome: A 250000 sq ft (23,225.8 m²) indoor ski/snowboard slope that will be open year round. It will be the first indoor ski/snowboard slope in the U.S and feature equipment rentals, a working chairlift, ski lessons, and a ski bar.
- Skydiving Simulator: A skydiving simulator and Vertical wind tunnelVertical wind tunnelA vertical wind tunnel is a wind tunnel which moves air up in a vertical column. It is a recreational wind tunnel, frequently advertised as "indoor skydiving" or "bodyflight". It is also a popular training tool for skydivers....
. - Indoor Ice Rink: an indoor ice rink open to the public with ice skating lessons and occasional touring shows.
- Live Performing Arts Theater: a 3,000 capacity live theater that will hold concerts and other live performances.
- Amusement Park: A full-scale, climate controlled, indoor theme park open year-round under a glass dome.
- Water Park: A full scale, climate controlled, indoor water park open year-round under a glass dome.
- Movie Theater: An upscale 26-screen movie theater with 5,000 seats and a rooftop lounge overlooking New York City. It will be the largest movie theater in the Northeast.
Pepsi Globe
Announced in February 2008, the Pepsi Globe, a 287 ft (87.5 m) tall giant Ferris wheelFerris wheel
A Ferris wheel is a nonbuilding structure consisting of a rotating upright wheel with passenger cars attached to the rim in such a way that as the wheel turns, the cars are kept upright, usually by gravity.Some of the largest and most modern Ferris wheels have cars mounted on...
with 26 passenger capsules, is to be constructed facing the NJ Turnpike. Originally due to open in 2009, the project was then put on hold until 2010 to avoid construction interfering with the New Jersey Nets
New Jersey Nets
The New Jersey Nets are a professional basketball team based in Newark, New Jersey. They are members of the Atlantic Division of the Eastern Conference in the National Basketball Association...
2009-2010 season. With the overall complex's delayed opening, the Pepsi Globe is also on hold.
Original plans
Madrid Xanadú
Madrid Xanadú is a large shopping mall and entertainment center in Arroyomolinos, Spain at the Autovía de Extremadura section. The Mall is one of Europe's largest and most recognized, with over 222 shops, eateries, and a 15-screen Cinesa Movie Theater. The main attraction is Madrid SnowZone, a...
.
Sports
A sports-themed district. Attractions include:- Cabela'sCabela'sCabela's is a direct marketer and specialty retailer of hunting, fishing, camping and related outdoor recreation merchandise, based in Sidney, Nebraska. It also has "Trophy Properties LLC , "Outdoor Adventures" , and the "Gun Library"...
: A 160000 sq ft (14,864.5 m²) hunting and outdoors store that will include waterfalls, a trophy display of wild animals, and indoor archery range. - SnowPark: Formerly named "The SnowDome", SnowPark Meadowlands is a 250000 sq ft (23,225.8 m²) indoor ski/snowboard slope that will be open year round. It will be the first indoor ski/snowboard slope in the U.S.
- IFly Meadowlands: A skydiving simulator and Vertical wind tunnelVertical wind tunnelA vertical wind tunnel is a wind tunnel which moves air up in a vertical column. It is a recreational wind tunnel, frequently advertised as "indoor skydiving" or "bodyflight". It is also a popular training tool for skydivers....
. - Sports AuthoritySports AuthorityThe Sports Authority, Inc. is one of the largest sporting goods retailers in the United States. It is headquartered in Englewood, Colorado, and operates more than 460 stores in 45 U.S...
- Adrenalina
Entertainment
An entertainment-themed district. Attractions include:- AEG Live!: a 3,400 capacity live theater by Anschultz Entertainment Group that will hold concerts and other live performances. It will be "sister" to the Nokia TheatreNokia Theatre Times SquareThe Best Buy Theater in Times Square is an indoor theatre, owned and managed by Anschutz Entertainment Group , located on 1515 Broadway, at the corner of Broadway and 44th street. It was designed by architect David Rockwell and opened in September 2005...
in Times Square, NYC. - The Movie ExperienceThe Movie ExperienceThe Movie Experience is a small chain of southern California movie theaters founded in 1918. The theaters are distinguished by often screening classic and art house films.-Locations:*The Movie Experience in San Luis Obispo....
: An upscale 17-screen movie theater with IMAX and stadium style seating, with one rooftop theater. - Lucky Strike Lanes: An upscale bowlingBowlingBowling Bowling Bowling (1375–1425; late Middle English bowle, variant of boule Bowling (1375–1425; late Middle English bowle, variant of boule...
lounge that brings together bowling and entertainment, where visitors can bowl in a room with 1930s/1940s themed decoration while eating American cuisine in a restaurant and lounge. - The Funplex: A 20000 sq ft (1,858.1 m²) family entertainment center, with a 3000 sq ft (278.7 m²) arcade and attractions including Lazer Tag, Bumper Cars, and a 4-D Theatre. The premiere attraction of the facility will be an immersive live-action role-playing game called MagiquestMagiquestMagiQuest is a live action role-playing game in which players take the role of magic users. Players, called Magi in the game, use an infra-red emitting wand to interact with objects. These objects are usually scattered throughout the place. By waving and pointing the wand at an object, a player...
. There are also locations in East HanoverEast Hanover, New JerseyEast Hanover Township is a township in Morris County, New Jersey, United States. As of the United States 2000 Census, the township population was 11,393. The town was incorporated in 1928. The headquarters of the Nabisco company and the pharmaceutical company Novartis are located in East...
and Mt. Laurel, both located in New JerseyNew JerseyNew Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
as well. - WonderWorks: An interactive museum featuring over 100 exhibits. The exterior features a facadeFacadeA facade or façade is generally one exterior side of a building, usually, but not always, the front. The word comes from the French language, literally meaning "frontage" or "face"....
of an upside-down building. There are also locations in Orlando, FloridaOrlando, FloridaOrlando is a city in the central region of the U.S. state of Florida. It is the county seat of Orange County, and the center of the Greater Orlando metropolitan area. According to the 2010 US Census, the city had a population of 238,300, making Orlando the 79th largest city in the United States...
, Pigeon Forge, TennesseePigeon Forge, TennesseePigeon Forge is a mountain resort city in Sevier County, Tennessee, located in the southeastern United States. As of the 2010 census, the city had a total population of 5,875....
, Myrtle Beach, South Carolina and Panama City, Florida.
Cancelled:
- Digital Playground: Circuit City planned a new concept store with the feel of a consumer electronics trade show. Visitors would roam the expansive floor to explore, experience, and purchase next-generation consumer electronics and technology in a completely new, hands-on way. The concept was canceled mostly due to the bankruptcy of Circuit City.
- Muvico 26: Muvico TheatersMuvico TheatersMuvico Theaters is a movie theater chain. Its headquarters are in Oakland Park, Florida, near Fort Lauderdale.Based in Fort Lauderdale, Florida, Muvico has seven complexes in Florida. Muvico has also expanded out of the state of Florida to include complexes in the Chicago Metropolitan Area , and...
planned to open a 26-screen, 6,500-seat, Egyptian-themed 160000 sq ft (14,864.5 m²) movie theater. The theater was to include its own restaurant and bar, nine balcony auditoriums, a rooftop terrace featuring a 60 feet (18.3 m) outdoor screen, and an on-site helipad. The theater was later reduced to 17 screens, and then later canceled. A theater is still planned, now known as "The Movie Experience". - Virgin MegastoreVirgin MegastoreVirgin Megastores is an international chain of record shops, founded by Sir Richard Branson on London's Oxford Street in early 1971. Virgin Megastores are best described today as entertainment retailers....
: It was announced in March 2009 that all U.S. Virgin Megastores would close.
Youth Culture
A district which will include children's stores, interactive games, and play areas. The district's planned name was "Children's Education" until February 2008 when it was changed into "Youth Culture." Attractions include:- Legoland Discovery Center: The largest discovery Center in the US.
- It's Sugar!: The largest specialty sweets store in the world, it will house a candy-themed bridge over a 30 feet (9.1 m) chocolate waterfall into a 36000 square feet (3,344.5 m²) city created out of sweets with a candy-themed elevated ride and candy museum. A location at the Pier at Caesars in Atlantic City is already open.
- Wannado CityWannado CityWannado City was an indoor role-playing amusement center at the Sawgrass Mills Mall in Sunrise, Florida, a suburb of Fort Lauderdale. It was a property of Grupo CIE. Billed as "where kids can do what they wanna do," it was a child-sized representation of a metropolis where children aged 2-14 could...
: An indoor role-playingRole-playingRole-playing refers to the changing of one's behaviour to assume a role, either unconsciously to fill a social role, or consciously to act out an adopted role...
amusement centerAmusement parkthumb|Cinderella Castle in [[Magic Kingdom]], [[Disney World]]Amusement and theme parks are terms for a group of entertainment attractions and rides and other events in a location for the enjoyment of large numbers of people...
. There was a location at the Sawgrass MillsSawgrass MillsSawgrass Mills is a shopping mall operated by the Simon Property Group, in Sunrise, Florida, a city in Broward County. With of retail selling space, it is the sixth largest mall in the United States, and the second largest in Florida...
mall in Sunrise, FloridaSunrise, Florida-Overview:Sunrise is a city in southwestern Broward County, Florida, United States. It was incorporated in 1961 by Norman Johnson – a developer whose World Famous Upside-Down House attracted buyers to what was then a remote area...
, which closed in January 2011.
Food & home
A food & home district with restaurants include:- Zeytinia: A gourmet food market with on-premise dining, Zeytinia sells fresh perishable foods and chef-prepared meals, upscale brands, imported food, market stalls, tasting stations and pantry.
- Cooking Studio: An area where visitors can watch world-renowned chefs duel in competition in a cooking studio that will be featured on national TV.
- Culinary Arts Center: A state-of-the-art cooking school, theater-style demonstration area and themed ancillary retail located in the Food & Home District.
- Mitchell's Fish Market
- The Melting PotThe Melting Pot (restaurant)The Melting Pot is a chain of franchised fondue restaurants located across the United States. There were 142 locations as of August 2009, with 28 more locations under development...
- Sofrito: A Puerto Rican/Caribbean restaurant by Jimmy Rodriguez.
- The Cheesecake FactoryThe Cheesecake FactoryThe Cheesecake Factory, Inc. is a restaurant company in the United States. The company operates 165 upscale, casual, full-service dining restaurants: 151 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the RockSugar Pan Asian Kitchen mark...
- BenihanaBenihanaBenihana can refer to:*Benihana, Benihana's Hibachi Restaurant*Benihana * Benihana, the Japanese word for safflower...
Fashion
A fashion area would have most of the mall's stores, and an area for fashion shows. In the mall's site plans, there is room for a department/anchor store at this end of the mall.Restaurants
The mall will also feature 150,000 sq. ft. of restaurant space with indoor and outdoor seating.Concerns and controversy
The New York Giants had proposed that the mall be closed on days when the NFL team had home games, as part of the deal to build a New Meadowlands Stadium
New Meadowlands Stadium
MetLife Stadium is a stadium in the New York City Metropolitan Area, part of the MetLife Sports Complex, in East Rutherford, New Jersey. It is the home of the New York Giants and New York Jets of the National Football League and is adjacent to the site of the former Giants Stadium, which was home...
to replace Giants Stadium
Giants Stadium
Giants Stadium was a multi-purpose stadium, located in East Rutherford, New Jersey, USA, in the Meadowlands Sports Complex. Maximum seating capacity was 80,242. The building itself was 230.5 m long, 180.5 m wide and 44 m high from service level to the top of the seating bowl and 54 m high to...
. The Giants then made an agreement with then-Xanadu to allow the complex to be open on game days, with the option to sue if traffic became a concern, an agreement which remains in effect now that the New Meadowlands Stadium
New Meadowlands Stadium
MetLife Stadium is a stadium in the New York City Metropolitan Area, part of the MetLife Sports Complex, in East Rutherford, New Jersey. It is the home of the New York Giants and New York Jets of the National Football League and is adjacent to the site of the former Giants Stadium, which was home...
will be co-owned with the New York Jets
New York Jets
The New York Jets are a professional football team headquartered in Florham Park, New Jersey, representing the New York metropolitan area. The team is a member of the Eastern Division of the American Football Conference in the National Football League...
.
The complex was originally developed by the Mills Corporation
Mills Corporation
The Mills Corporation was a publicly traded real estate investment trust headquartered in Arlington, Virginia, United States, acquired on April 3, 2007 by an investment group composed of Simon Property Group and Farallon Capital Management. The company developed, owned, and operated major...
in partnership with Mack-Cali Realty Corporation, with financing by Kan Am. In May 2006, the U.S. Securities and Exchange Commission (SEC) announced it was formally investigating the Mills Corporation
Mills Corporation
The Mills Corporation was a publicly traded real estate investment trust headquartered in Arlington, Virginia, United States, acquired on April 3, 2007 by an investment group composed of Simon Property Group and Farallon Capital Management. The company developed, owned, and operated major...
after the company announced that it was restating four years of earnings due to executive misconduct and accounting errors. Later in the year, an analyst at Bank of America Securities pushed Mills Corporation to drop the project, citing significant cost overruns. Subsequently, the troubled developer sold their stake in the mall project to private investment firm Colony Capital; the Mills Corporation collapsed soon after.
The Federal Aviation Administration
Federal Aviation Administration
The Federal Aviation Administration is the national aviation authority of the United States. An agency of the United States Department of Transportation, it has authority to regulate and oversee all aspects of civil aviation in the U.S...
expressed concerns with the height of the observation wheel (~330 ft) affecting local air traffic to and from Teterboro Airport
Teterboro Airport
Teterboro Airport is a general aviation relief airport located in the Boroughs of Teterboro, Moonachie, and Hasbrouck Heights in Bergen County, New Jersey, United States. It is owned and operated by the Port Authority of New York and New Jersey...
. The height for the observation wheel has since been reduced to 286 ft (87.2 m).
In January 2010, a report prepared by governor Chris Christie's transition team said that the complex “appears to be a failed business model” and that New Jersey needs to tell the owners to “open or surrender the property.” The report also stated that “There is no leasing plan making material on-site progress. The physical activities of construction are at a standstill, if not abandonment. The construction loan is out of balance. There are no monies readily available to finish construction of public areas or tenant improvements. Most, if not all, of announced major tenants have an ‘escape clause’ solely dependent on leasing — or lack thereof.”
External links
- American Dream Meadowlands official website - under construction
- Meadowlands existing official website
- $1.3B, 4.8MSF Xanadu Project Will Transform 'Swamps of Jersey'
- Meadowlands Xanadu Unveils First Wave of Major Tenants, Consumer Brands and Entertainment Experiences
- New York Times: Delay, Turmoil and High Costs Plague Meadowlands Projects
- http://www.northjersey.com/news/state/042811_Xanadu_to_become_American_DreamMeadowlands.html