The Christie administration is working to secure a billion-dollar deal to revive the embattled Xanadu development in the Meadowlands with an eye on opening its beleaguered doors by fall 2013.
With $1.9B already spent and the relentless criticism dogging the project, the New York Times reports today that the governor has struck a deal with the Canadian developers of the Mall of America in Minnesota — Triple Five — to funnel $1B to complete the shopping and entertainment complex, which would be rennamed Dream@Meadowlands.
The deal apparently includes a new “skin” on its exterior, which appears to be paying the price for its seat along the New Jersey Turnpike and the air pollution that comes with it.
The Record reports that the first stage of the development would be slated to open by fall 2013.
The Times says an indoor water park, skating rink and, yes, the ski ramp are part of the revival. Christie will chip in up to $200M in low-interest financing, reports the paper.