Tag: Dream

American Dream mega-mall will reopen, owner says. Here’s what it’s planning.

Non essential retail has reopened from the coronavirus shutdown. Malls have reopened, too.

But American Dream, the mega-mall in the Meadowlands, still hasn’t. And it doesn’t even have an opening date yet.

“We are very different from other malls,” an American Dream spokesperson said.

American Dream has always eschewed the mega-mall moniker. And now, more than ever, the difference between it and traditional New Jersey shopping malls is evident. The heavily-weighted toward entertainment American Dream doesn’t have the tenancy right now to support reopening when its rides and slides can’t welcome guests.

Still, Don Ghermezian, chief executive officer of

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The American Dream Mall Had Retail Problems Before Coronavirus. Now, They’re Worse.

The bad news keeps piling up for the American Dream megamall project in the New Jersey Meadowlands.

Here’s what happened last week:

  • Bloomberg News reported the project has left the Ghermezians, the family of developers behind American Dream development company Triple Five, “mired in debt” due to money they borrowed to complete American Dream.
  • Bond market news site The
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American Dream Mall Bonds are Falling Fast

American Dream mall

American Dream mall

Things seem to be going from bad to worse for the American Dream mall in the Meadowlands.

Six months after the mall closed its recently opened doors because of the coronavirus pandemic, the bonds funding the project have decreased in value, according to NJ.com.

A year ago, the $1 billion worth of bonds on the project were trading at $120 apiece and yielding 4.25 percent, but as of April they’ve dropped to $93.72 with a 7.5 percent yield.

Owner Triple Five Group, headed by the Ghermezian family, in June missed its third consecutive $7 million payment on

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American Dream Miami will break ground in 2021

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A rendition of the American Dream Miami by Triple Five. The American Dream Miami mega-mall received the initial go-ahead from Miami-Dade commissioners in May 2018.

Triple Five

After years of delays, the country’s largest shopping center finally has a birth date.

The Canadian development firm Triple Five Worldwide plans to start construction of American Dream Miami in late 2021, according to Miguel Diaz de la Portilla, who is an attorney at Saul Ewing Arnstein & Lehr and represents Triple Five Worldwide. He said Triple Five Worldwide expects to spend between $4.5 billion to $5 billion to build five million square

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American Dream New Jersey mall delays opening retail over coronavirus

Workers labor atop lifts on the side of a building construction of an indoor waterpark at the site of the American Dream mall in East Rutherford, Thursday, April 25, 2019, seen from Carlstadt, N.J.

Julio Cortez | AP

The American Dream megamall in New Jersey, which has an indoor amusement park and ski slope, is shutting down entirely due to the coronavirus, co-CEOs Don and Mark Ghermezian announced Friday. 

This also means they will be pushing back the long-awaited opening of retail shops, including Zara and H&M, and the world’s first DreamWorks Animation Water Park, which were both set to

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