American Dream Mall Still Troubling Developer’s Sleep

WNYC | February 3, 2017 | Planning
Funding expected to be available in December has yet to show, raising questions about whether this dream will ever be realized

Yet another financing deadline has come and gone for the stalled American Dream megamall in the Meadowlands, once again raising concerns that developer Triple Five will not be able to raise the money to get the job done — despite reassurances to the contrary. If the funds ultimately don’t come through, Triple Five will be the third developer to walk away from the hyperambitious entertainment and shopping complex, which is expected to include an indoor ski jump and Ferris wheel.

Developer Don Ghermezian said in early December that the $2.7 billion dollars needed to complete work on the 90-acre mall was all lined up.

“I anticipate that prior to the Christmas holiday the public will know fully about the commitment on the financing,” Ghermezian said.

When the money didn’t materialize, a company spokesman walked the date back to early January. February is here, and there’s still no sign of the cash.

Read the full story on WNYC News, a content partner of NJ Spotlight.