NJ’s massive mall project nears approval

April 24, 2012 09:00AM

New Jersey’s American Dream, formerly known as Xanadu, has taken a big step forward just two weeks after the U.S. Environmental Protection Agency reiterated its opposition to the project. According to the Wall Street Journal, the New Jersey Sports and Exposition Authority, which owns the project’s land, submitted the environmental review document the EPA was requesting, clearing the way for permits needed to resume construction.

“We’re putting a lot of emphasis in getting shovels back in the ground there. We’re getting closer and closer. We really are,” said New Jersey Sports and Exposition Authority President Wayne Hasenbalg of the project, which has been stalled since 2009.

The documents were submitted to three environmental agencies to show the impact the 14.7-acre water park would have on the Meadowlands’ wetland areas. If approved, the project’s final major hurdle would be cleared.

At that point the $1.8 billion, 2.7 million-square-foot project just need to finalize a round of public financing and quell traffic concerns presented by the New York Giants and New York Jets, whose home stadium is adjacent to the development site. The former obstacle has been moving forward and terms are under review by the borough of East Rutherford, while NJ Transit will provide additional public transportation to ease the football teams’ fears. [WSJ]