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Old Posted May 5, 2011, 6:22 AM
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NYguy NYguy is offline
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Join Date: Jul 2001
Location: Borough of Jersey
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Originally Posted by Crawford View Post
The developers say this will have 7.5 million square feet, and will be the largest mall on earth.

Much bigger than either Mall of America or West Edmonton Mall.

But Phase I, for 2013, will only be slightly over 3 million feet.

Well, its best they just focus on phase 1 for now anyway. This is a development that has struggled to get built, so 3 million is good, 7.5 million is great. Just as long as they get it built and opened.


Upon full buildout, the project, formerly known as Xanadu, will total 7.5 million square feet of space, including 3 million square feet of retail and amusement space, as well as 4.5 million square feet of planned hotels, convention center, performing arts center, sports center and additional venues.

Triple Five said it is planning to invest $1.5 billion in the retail and amusement components of the complex, which has already cost $2 billion; Gov. Chris Christie said Tuesday that the state has pledged $200 million in financing from the state Economic Development Authority.

The first phase of the project will encompass the 2 million-square-foot existing building, which is scheduled to open fall of 2013, as well as new features such as indoor amusement and water parks, which would open by the first half of 2014, according to Paul Ghermezian, senior vice president at Triple Five, speaking during a media tour of the project site on Tuesday.

The subsequent phases "will be many years in the making," said Triple Five spokesman Dan Jasper.

The American Dream name has a personal significance for Triple Five, which was started by "a family of immigrants," said Ghermezian. His uncle Nader Ghermezian, Triple Five's chairman, and other family members "came here looking for the American Dream … and they achieved it."
NEW YORK heals.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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