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The American Dream mall in New Jersey is slated to cost $ 3.8 billion dollars to build. That is a lot of money. The mall developers started by investing just under $1 billion in their plans, including the land purchase and permits. They now need approximately another $ 2.7 billion to see the project through completion. On Friday, February 1st front man Don Ghermezian said he needs investment from retail giants such as Amazon, Saks Fifth Avenue and Nordstrom to make this work for him.
The American Dream Mega-Mall is a proposed retail complex in East Rutherford, New Jersey, United States. It would be located on the site of the former Meadowlands Sports Complex and would feature indoor amusement parks, shopping centers and entertainment venues.
How much is American Dream Mall going to cost?
The project was first announced in 2004 by developer Triple Five Group. The project was delayed due to lack of financing and regulatory issues until 2012 when Triple Five secured financing from Fortress Investment Group. In 2013, the New York Jets and Giants announced plans to move their headquarters into the complex. In 2014, Triple Five announced that it was seeking tenants for the complex’s indoor amusement parks and other attractions. Most recently, in 2016, Triple Five announced that Amazon had signed a lease for space in its indoor amusement park called “KidZania” after previously signing deals with Legoland Discovery Center and Sea Life Aquariums.
If built as planned, American Dream will be one of the largest malls in North America with 8 million square feet (740,000 m2) of retail space and 1 million square feet (93,000 m2) of office space. The mall will also feature three indoor theme parks called DreamWorks Experience (based on Dreamworks Animation), Cir
American Dream Mall is a $4 billion mega mall being built by Triple Five, the same company that owns the Mall of America in Minnesota.
The company has started construction on the project, which is expected to open in 2020. When it’s done, it will be more than 5.2 million square feet — making it one of the largest malls in the country by gross leasable area (GLA).
Here’s what we know so far:
Construction costs for American Dream are estimated at $2 billion. The rest of the money will go toward paying for fixtures, fixtures and other expenses. That includes $200 million for road improvements around the mall complex and another $1 billion for infrastructure upgrades like water and sewer lines. The total cost could be as much as $4 billion when all is said and done.
The American Dream Mall is a $4 billion retail complex that is being built in the town of Rutherford, New Jersey. The mall will feature over 250 stores and attractions. The project’s website says that it will be “the largest mall in the United States.”
The developers of the American Dream Mall are Triple Five Worldwide (T5W), which is owned by the Ghermezian family. T5W also owns another giant shopping center called West Edmonton Mall in Alberta, Canada. That mall was opened in 1981, making it one of the largest shopping centers in North America.
The Ghermezians announced plans for an even larger version called Dubai Mall in Dubai, United Arab Emirates (UAE). However, due to financial problems at that location, they decided not to build it after all.
American Dream will include indoor ski slopes and a water park, as well as hotels and restaurants. There will also be an amusement park called Boardwalk USA with roller coasters and other rides similar to those found at Disneyland or Six Flags Magic Mountain theme parks.
The American Dream Mall is a proposed shopping mall in the city of East Rutherford, New Jersey. The project is the brainchild of Triple Five Worldwide, a Canadian developer that owns and operates several other American malls and amusement parks such as West Edmonton Mall, Minnesota’s Mall of America, and New York City’s Empire Outlets.
The American Dream development will be built on a 1,500-acre parcel of land located near the intersection of Routes 3 and 17 in Bergen County, New Jersey. It is expected to cost over $4 billion when completed and will include up to 130 stores, restaurants and entertainment venues including an indoor ski slope, water park and theme park called “DreamWorks Experience”. In addition to retail space there will be a hotel with 1,600 rooms as well as office space.
Construction started in 2016 with completion expected by 2020.
The American Dream Meadowlands project is expected to cost $3.7 billion, but the actual price tag has not been disclosed.
The size of this project is significant and it’s likely that the developers will need to borrow money in order to finance the project.
While there are many different methods of financing a real estate project, one of the most common is through a construction loan.
A construction loan allows developers to borrow money for a set period of time in order to pay for construction costs and other expenses related to developing their real estate asset. When the project is completed, they can refinance their loan into a permanent mortgage that pays off their initial construction loan and gives them access to their own equity in the property.