Mall of America owner looks to revitalize Meadowlands project

December 23, 2010 05:11PM

From left: Jim Kirkos, Meadowlands Sports Complex and Gov. Chris Christie of New JerseyDeveloper Triple Five, owner of the Mall of America, has signed a letter of intent with the Meadowlands Xanadu Lender Group to renovate the five-story sports Meadowlands Sports Complex in East Rutherford, N.J. “This administration fully supports the progress being made and will be a true partner at every step in transforming the Meadowlands from a financial and economic drain into a vibrant destination so that New Jerseyans can begin to reap the benefits of the job creation and much-needed tax revenues this project will provide,” said Gov. Chris Christie.

The announcement comes after a more than four-month long review and negotiation process following the Lender Group’s action in August to take control of the previously stalled complex and expedite its revitalization.
“The power of this location drove the original redevelopment plan for Xanadu and it was what we always knew would lead to its completion,” said Jim Kirkos, president of the Meadowlands Liberty Convention and Visitors Bureau. “As a destination, we know people will come to the Meadowlands to spend fresh dollars because of Xanadu, and its purchase by Triple Five is a critical step in clearing the way for gaming and other destination options at the site.” TRD