New York Times: After 15 Years, Dream Mall Finally Becomes a Reality
It has taken 15 years, three owners, two names and hundreds of millions of dollars worth of taxpayer incentives, but a giant mall built on a former swamp in the Meadowlands — and less than 10 miles away from the shopping haven of Manhattan — is finally opening on Friday.
“Maybe pre-recession, there were some massive mall developments, but this is extremely unique,” said Vince Tibone, a retail analyst at Green Street Advisors.
American Dream is a huge, some say unrealistic, bet that tens of thousands of people will visit the Meadowlands each day to play, as well as shop in stores like H&M and Hermès that are readily available in Manhattan. Triple Five has said that it anticipates 40 million visitors a year — on par with Walt Disney World in Orlando, Fla. This despite the fact that Bergen County, the mall’s home, prohibits retail sales on Sundays.
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