Posted on

Retail Apocalypse, No reopening plans for NJ’s Xanadu American Dream Mall

Xanadu_main_theridgewoodblog

the staff of the Ridgewood blog

East Rutherford NJ, After nearly two decades of construction delays and billions pumped in from New Jersey tax payers , New Jersey’s mega-mall American Dream partially opened last October. Six months later, the three-million-square-foot venue was forced to close its doors because of the coronavirus pandemic. Now, even as the state continues its gradual reopening, there is still no reopening date for the $5 billion mall. As NJ.com reported, owner Triple Five Group has missed three consecutive mortgage payments and retail tenants are getting out of their leases at the space. On top of that, contractors and subcontractors have filed over $13 million in construction liens for unpaid work.

The mall also lost two tenants prior to the pandemic, Lord & Taylor and Barneys New York, both of which got out of their lease at the mall after closing stores in New York. According to NJ.com, other possible tenants currently considering ditching their space at American Deam include Forever 21, Victoria’s Secret, and The Children’s Place, which are all struggling amid the pandemic.

Tenants CMX Cinemas and GNC both filed bankruptcy because of COVID-19, with the latter no longer opening at the mall, according to the Commercial Observer.

 

11 thoughts on “Retail Apocalypse, No reopening plans for NJ’s Xanadu American Dream Mall

  1. This has never been anything more than a union boondoggle

    2
    1
  2. You’re talking out of your ass. This has nothing to do with the Union’s. If anything the Union was against this Because if you knew where the money came from you will not be stating that. The money came from the state pension. Over $1 billion to do that shit hole of a mall swamp. Yes it was good for jobs that’s about it. Maybe in another year it might be done.

    1
    3
  3. Exactly, this was all about creating work for union members for two decades. It’s a $5 billion make work project, syphoning billions pumped in from New Jersey tax payers. The money pit in the swamp.

    6
    1
  4. And who was in charge of BCIA at the the time all the consultants’ work was distributing….??? Hmm….

  5. Who said this was the ugliest building complex in america before Rebuild ?

    Trump or Christie ?

  6. What a waste.

  7. Typical Democrat communist theft… 90% stolen… billions from taxpayers

    1
    1
  8. Mnuchin was in on it. Look into the history. No doubt someone has made money off it. Not the taxpayers.

    1. trade unions and nj politician silly nobody would invest real money in such a stupid idea except NJ taxpayers

  9. Al Capone would be proud. Bravo New Jersey. An indoor ski slope and a mall in the age of mall deaths? Typical NJ. Why does a mile of asphalt cost 4X the amount of the next most expensive state in the country? A lot of “considerations” involved.

Leave a Reply

Your email address will not be published.