Canadian conglomerate Triple Five owns and operates the two largest malls in North America—the West Edmonton Mall in Canada and the Mall of America in Minneapolis, but the company is now seeking to outdo its previous efforts by building what would be the largest shopping center in the world, the American Dream Meadowlands.
Real Estate & Construction
While the Xanadu project and Meadowlands Racetrack have been the focus of attention at the Meadowlands, insiders report private companies are quietly expressing interest in taking over the Izod Center.
The Jersey City Redevelopment Agency announced last week it received a $2.3 million federal grant to speed completion of the Canal Crossing redevelopment project, which aims to improve underused lands, create low-income housing opportunities and increase access to transportation options in the state’s second-largest city.
Bedminster-based real estate owner and developer Advance Realty unveiled its plans last week for its first Hoboken project, a seven-story, mixed-use building that will be located at 14th Street and Willow Avenue.
A big player in the low- and moderate-income housing financing market has suffered two years of losses, but has no plans to exit the field.
Trio East, a 6.5-acre development site in Palisades Park previously owned by real estate developer Tarragon, has been sold as part of a court order for $1.8 million, commercial real estate brokerage Cushman & Wakefield announced last week.
Lt. Gov. Kim Guadagno was on hand last week to break ground on a new water treatment plant in the Short Hills section of Millburn.
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