Fixing NJ American Dream development to be costly

AP News
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Posted: Jul 01, 2011 8:43 AM
Fixing NJ American Dream development to be costly

Fixing New Jersey's massive American Dream Meadowlands shopping and entertainment complex could cost tens of millions of dollars.

The Record newspaper reports deep problems at the long-planned center, which has never opened.

Escalator and elevators that have been sitting unused for years have rust and corrosion and need major repairs.

A parking garage built near the Izod Center in 2005 has sunk 6 inches into the ground.

Triple Five, the company that runs Mall of America in Minnesota, plans to take over the often-delayed Meadowlands project formerly known as Xanadu.

It promises to make the complex a bigger attraction than Mall of America. It could qualify for $350 million in state tax breaks under a bill Gov. Chris Christie is expected to sign.

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Information from: The Record, http://www.northjersey.com