In the ongoing saga of American Dream construction, the project’s developer has completed financing and will finally proceed.
One month after developer Triple Five closed a $1.67 billion loan, Goldman Sachs and JP Morgan completed the sale of $1.1 billion in tax-exempt bonds to finance the project.
The three million square foot retail and entertainment complex, which has been under construction intermittently for more than a decade, is still slated to open in March of 2019.
Triple Five President Don Ghermezian said:
“The now-completed financing allows Triple Five to proceed with full construction of this unprecedented project, which will create tens of thousands of jobs, bring millions of tourists and billions of dollars in economic growth annually to Bergen County and the state of New Jersey.”
Features will include a Nickelodeon Universe Theme Park, Legoland Discovery Center, DreamWorks Water Park and SeaLife Aquarium in addition to an indoor ski slope, ice rink, movie theater, concert hall, bowling alley, miniature golf course and nearly 400 retailers and restaurants.