American Dream Meadowlands Clears Another Regulatory Hurdle
July 3 2012 - New Jersey's Meadowlands Commission approved an environmental impact report for the proposed $2 billion American Dream Meadowlands retail and entertainment complex. The environmental study specifically assessed the potential impact of the indoor water and amusement park proposed for the site, which are additions made since mall developer Triple Five Group of Cos. took on the stalled project two years ago.
The project next moves before the New Jersey Sports and Exposition Authority, which will consider the proposal after a federal review of Triple Five's plan to mitigate possible effects on the wetlands at the site. The project faces opposition from several local mayors who requested a comprehensive regional traffic study. The Jets and the Giants have also filed a lawsuit to stop the project claiming that a November 2006 cooperation agreement over the previously proposed Xanadu mall project explicitly required the franchises' consent before any modifications were made to that project that could impact MetLife Stadium. Triple Five allegedly disregarded these contractual protections, failing to seek their consent on changes to the Xanadu/American Dream project despite the franchises' efforts to resolve the potential dispute over the expansion.