(Images above from Triple Five) (Image showing current state of project via Bing Maps) |
Xanadu, the long stalled mega mixed-use development in the
Meadowlands has been revived and will start construction in the coming
months. The project was originally
envisioned by the now defunct Mills Corp, which ran into financial challenges
during the economic collapse. The
property then passed to Colony Capital where they also were challenged
with keeping the project afloat. The
project sat dormant for several years until a deal was struck last year with TripleFive, the owner of the Mall of America and the West Edmonton Mall
in Canada.
Renamed American Dream as part of Triple Five’s new
vision of the property, the complex will be a mix of retail and entertainment
with attractions including an indoor ski hill (first in North America) that
will also have a professional ski school, extreme snowboarding park and snow
365 days per year. Other attractions
include a glass-domed indoor amusement park, water park with surfing,
state-of-the-art movie complex, live music and performing arts theater, 200
foot diameter enclosed capsule observation wheel, indoor skating rink, bowling
alley and aquarium, miniature golf course, children’s museum, daycare
facilities, and dozens of eating options including international gourmet
cuisine.
The project is one of the largest in the country with over
1.7 million sf of retail, 1.1 million sf of attractions and 150,000 sf of
restaurants. Future plans call for the
complex to eventually hit 7.5 million sf, which will make it the largest
shopping and entertainment complex in the world. The project, expected to cost over $3.7 billion has projections
of 55 million annual visits.