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Case Study: The American Dream Mall

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The state of New Jersey plans to construct one of the biggest retailer and entertainment complexes in the United States named The American Dream Mall. The goal of this project is to become the primary global shopping, dining and entertainment destination any one has yet to see. The complex has been under construction for over thirteen years in the Meadowlands located right next to the MetLife Stadium, home of the NFL New York Jets and New York Giants. Throughout the past couple of years this project has seen many different project managers and developers causing many project issues lawsuits, scheduling conflicts, and project delays. However, real estate development company Triple Five Group will finally get a moving with this project and …show more content…
After a proposed deal was made between the two, CC decided to take over the project but pushing it a year back from the expectation date of 2007 to 2008. This global investment firm picked up where Mills left off but realized they were not in the position to finish the project when the Lehman brothers began missing loan payments and causing lenders to withdraw their support. The Colony Capital group had no choice but to face foreclosure in 2009 and stepping down from their position in finishing the Xanadu …show more content…
The American Dream project is going to bring so much revenue, economy boost, tourist traffic, and will generate so much profit for the state of New Jersey. After so many project conflicts and causes in delays, managing this messy project has been an issue for a long period of time. However with the new real estate development company Triple Five Group taking over and going in the right direction this shopping, dining, and entertainment complex will finally be able to see the light at the end of the tunnel. With so much money invested in this project, making the overall estimate cost at $5 billion, New Jersey Sports and Exposition Authority (owner of the land) made the right decision by pursuing to finishing this project. The benefits and offers this project will bring to the New Jersey and New York area will bring so many different opportunities. This project first interested me because it is a project I have been aware of for many years. However I never took the time to look into why such a big project has taken so much time and how messy it has gotten throughout the years. At first I had no idea that this project was first started in 2003 and I had no knowledge that this project has been through three different project developers and why it faced so many delays. After reading so many articles, blog columns, news posts, and

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