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Triple Five Unveils Its “American Dream”

EAST RUTHERFORD, NJ-The State of New Jersey will contribute $200 million in Tax Increment Financing and other funds to the $1.7-billion Meadowlands mega-development.

By Debra Hazel | Updated on May 03, 2011

EAST RUTHERFORD, NJ- “How would you like to walk to Hawaii?” asked developer Nader Ghermezian Tuesday at the press conference announcing Triple Five Corp.’s plans to convert the former Meadowlands Xanadu development into American Dream Meadowlands, at a cost of $1.5 billion to the developer and $200 million from the State of New Jersey.

One major component of the re-envisioned center will be a glass-domed water park that will remain a balmy 85 degrees year round. The goal, it seems, is to encapsulate the world in a project that will combine elements of Triple Five’s West Edmonton Mall in Canada, and Mall of America in Bloomington, MN, to attract what Triple Five estimates will be 55 million visitors, half of them tourists.

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