MEADOWLANDS -- On Thursday, the New Jersey Sports and Exposition Authority approved plans for an indoor water park and indoor amusement park for the American Dream Meadowlands project on Route 3, according to the Record of Hackensack. The approval allows the new developer Triple Five to move forward and obtain permits to build.
The Sports Authority also approved the Meadowlands Racetrack conceptual site plan submitted by Jeff Gural, chairman of Newmark Knight Frank, who will soon take over operations. The new 125,000-foot grandstand, scheduled to open spring 2013, is one-quarter the size of the existing one.
The American Dream recreation/entertainment complex, formerly known as Xanadu, has had a rocky financial history with its past owners. But a year ago, the state and developers Triple Five got involved. This past spring, Triple Five committed another $1.7 billion in the spring to finish the amusement and water parks, and Gural stepped forward last December to build a new grandstand.