New Jersey Gov. Christopher Christie (R) and Canadian developer Triple Five said on May 3 that the firm will spend $1.5 billion to renovate and expand the unfinished and unopened Xanadu mall in the Meadowlands near Manhattan, renaming it American Dream Meadowlands. Makeover of the 2.4-million-sq-ft structure will include a recladding of its multicolor exterior, which Christie had dubbed the state's “ugliest” building. The state is finalizing details on a $200-million loan to the project, to be repaid by sales tax revenue. Triple Five did not release names of its design firms but says the project will create close to 9,000 construction jobs. No contractor has been selected.
Ugly' New Jersey Mall to Get $1.5-Billion Makeover, New Name
May 4, 2011
Rendering Courtesy Triple Five; Image AP