Xanadu Project Breaks Ground Today In New Jersey

ARLINGTON, VA—The Mills Corporation and Mack-Cali Realty Corporation announced that construction begins today on Meadowlands Xanadu after receiving approvals from the New Jersey Sports and Exposition Authority and the U.S. Army Corps of Engineers. This project is scheduled to see the development of several hotels. Construction of the entertainment and shopping portion of Meadowlands Xanadu, the 4.8 million-square-foot family entertainment, sports, retail, office and hotel complex, commenced this morning with site preparation for the driving of piles for a parking garage and is planned to open in late 2007. Meadowlands Xanadu will be located at the Meadowlands Sports Complex in Bergen County, New Jersey, within five miles of Manhattan. Issuance of the Army Corps of Engineers permit also allows commencement of fill work, which triggers transfer of the 587-acre Empire Tract, the largest remaining contiguous open-space wetlands parcel in the Meadowlands, for conveyance to the State of New Jerseys Meadowlands Conservation Trust under deed restrictions to be approved by the Army Corps of Engineers and the New Jersey Department of Environmental Protection. . Meadowlands Xanadu will create more than 20,000 jobs during construction and more than 20,000 permanent full- and part-time jobs upon completion. In addition, the developers of Meadowlands Xanadu have committed to spend tens of millions of dollars for road and other infrastructure improvements. KanAm, The Mills Corporations financial partner for Meadowlands Xanadu, has completed its $250 million funding for the project. Tenancies for nearly half the entertainment and retail space at Meadowlands Xanadu already have been identified, including the countrys first indoor ski resort, an indoor Formula One-inspired go-kart track and simulated skydiving, as well as such leading brands as Elle magazine, Entertainment Weekly, Viking Culinary Arts Center, Cabelas, Circuit City, Virgin Megastore, Muvico Theater, Lucky Strike, Felt, Borders Books & Music, Wannado City, Balduccis and others. Restaurants will include Strip House and Summer Shack, as well as two new dining concepts by restaurateur Steven Hanson of BR Guest. also developer of the James Hotel concept.