American Dream Finally a Reality? NJ Mega-Mall Project Receives Financing Approval

More than ten years ago, the New Jersey Sports and Exposition Authority approved a development project plan to construct a 2.9 million square foot, state-of-the-art mega-mall, then named Xanadu, in East Rutherford at the Meadowlands Sports Complex . Since then, the project has yielded only controversy, lawsuits, and postponements. After changes in its name, developer, and financial plan, the project may finally be slated for completion. The New Jersey Sports and Exposition Authority has approved a plan to issue up to $350 million in bonds …

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