OT: Xanadu

[LevaosLectures]

www.eschatonblog.com

All Our Dreams Torn Asunder

Oh well...
Triple Five, owned by Edmonton’s Ghermezian family, scrapped the Xanadu name and veered from the retail-heavy plan, adopting the entertainment component from two of its properties, the Mall of America in Minnesota and the West Edmonton Mall. In May 2011, it projected American Dream would open in 2013 and would attract 55 million visitors a year. Since then, the company has scaled back its forecast to 40 million visitors.



Oh well...
The company took over the failed Xanadu project in 2010 and workers finally returned to the site this summer after signing a Project Labor Agreement in April. The opening date for American Dream Meadowlands, now estimated at fall 2016, no longer sounds unrealistic.

“I’m not a betting man, but I would bet on it,” Jeff Sheckter, Triple Five’s executive vice president, said in July.

Fool me once, don't get fooled again, two months later...Wait, didn't we already hear this?
EAST RUTHEFORD, N.J. (CBSNewYork) — After 12 years of financial troubles and delays, the American Dream megamall and entertainment center in the Meadowlands could finally open in fall 2016.

The target date was announced by the mammoth complex’s developer, Triple Five, WCBS 880’s Sean Adams reported.
Time keeps on slipping, slipping...

Initially proposed in 2003, the project's first developer went bankrupt and the second was forced to surrender control after losing financing. After sitting idle for two years, a third developer, the Triple Five, was brought in to complete construction in 2011.

The developer now claims that the American Dream Meadowlands mall will be completed in 2017 — with one caveat: They'll need $1 billion in bonds to be sold by government entities to provide the remainder of the financing required to complete the project.
For realsie this time, pinkie swear.

The developer expects to finish American Dream in summer 2018.

Atrios at 10:12

 

[RUpop]

It's such an eye sore and a colossal waste of money.

 

[vkj91]

Should have been a racetrack, casino/ hotel, bar area like they have by the Eagles, and maybe a minor league baseball field. Cheap, easy , and something people would use.

 

[RUpop]

Isn't there a vote this year for casinos in north jersey? Hell, sell that place to them.

 

[bac2therac]

Isn't there a vote this year for casinos in north jersey? Hell, sell that place to them.

unfortunately it looks like the residents of this state are so brain dead that they are going to vote down this casino bill which is so so stupid for them to do. Lots of NO ads taken out by PA, NY and offshore interests to prevent NJ from keeping gaming revenue in the state. PA and NY laughing at NJ who cant get out of its own way. The horse racing industry which was thriving among the tops in the country is on fumes and the no vote on casino expansion will put the final nail in the coffin of the Meadowlands Racetrack which was counting on the casino to help it compete in purses with PA and NY.

 

[RocktheRac]

Jeff Gural owner of the Meadowlands has conceded that voters will vote no on North Jersey casinos thus he is ending its ad campaign for the casinos. RIP Meadowlands and all the horse farms left in NJ.

 

[RU#1fan]

unfortunately it looks like the residents of this state are so brain dead that they are going to vote down this casino bill which is so so stupid for them to do. Lots of NO ads taken out by PA, NY and offshore interests to prevent NJ from keeping gaming revenue in the state. PA and NY laughing at NJ who cant get out of its own way. The horse racing industry which was thriving among the tops in the country is on fumes and the no vote on casino expansion will put the final nail in the coffin of the Meadowlands Racetrack which was counting on the casino to help it compete in purses with PA and NY.

This. A real head scratcher if NJ voters turn this down. Sure, let's give NY, PA, CT and now MA new Casinos all of our revenue from gambling. AC will continue to decline. Brilliant.

 

[jmg75]

Every time the media blows a Rutgers "scandal" out of proportion, or publishes yet another diatribe on the outrageous cost of RU football to New Jersey taxpayers, I automatically think of Xanadon't. I can't help but think there is Pulitzer Prize level political corruption story just sitting there waiting to be uncovered by some enterprising reporter. A multi-billion dollar project that is unwanted by seemingly everyone but our politicians, that seems harder to kill than a thousand year old vampire. Every time it looks like a stake has finally been driven through Xanadon'ts heart, it rises again. Why? Who benefits? And how? I would love to see a New Jersey newspaper take a long, hard look at this, but I won't hold my breath. I expect they are much too busy tallying the fiinancial drain of Rutgers Athletics on New Jrsey's coffers.

 

[bac2therac]

This. A real head scratcher if NJ voters turn this down. Sure, let's give NY, PA, CT and now MA new Casinos all of our revenue from gambling. AC will continue to decline. Brilliant.

the problem is NJ politicians worded the amendment improperly and failed to get out the benefits. The state wouldnt be building a casino with taxpayer money and they certainly wouldnt get stuck with paying for a failed project..but thats how its been protrayed by the vote no campaign. Distrust is so high with NJ voters that they believe it, even though it would actuallly bring in more revenue for the state..so so foolish

 

[Upstream]

Jeff Gural owner of the Meadowlands has conceded that voters will vote no on North Jersey casinos thus he is ending its ad campaign for the casinos. RIP Meadowlands and all the horse farms left in NJ.

The anticasino ads you see on TV are funded by the Malaysian company that operates the Resorts World casino at the Aqueduct Racetrack in New York City.

 

[jtung230]

This. A real head scratcher if NJ voters turn this down. Sure, let's give NY, PA, CT and now MA new Casinos all of our revenue from gambling. AC will continue to decline. Brilliant.

You think a casino in the Meadowlands is going to help AC?

 

[RBS05]

You think a casino in the Meadowlands is going to help AC?

No but as AC continues its decline, this is something that could balance it out for the state's take.

 

[mal359]

You think a casino in the Meadowlands is going to help AC?

Christiebots are hell-bent on destroying Atlantic City. No, I don't understand it either.

 

[ruready07]

Why anyone would want a casino , especially Bergen county people near the meadowlands is crazy to me.

You get a short economic growth followed by huge property value decreases and high foreclosure rates . Tons of degenerates moving to the area and contributing nothing positive .

On Xanadu (American Dream)- I almost feel they are delaying the build in hopes of the casino bill passing, in which they can easily convert the structure

 

[Caliknight]

Zoffinger shoud be jailed.

 

[rutgersdave]

This. A real head scratcher if NJ voters turn this down. Sure, let's give NY, PA, CT and now MA new Casinos all of our revenue from gambling. AC will continue to decline. Brilliant.

The NJ voters are stupid. The South Jersey people are against it because of Atlantic City but a NO vote reduces NJ tax receipts. They only care about themselves but they expect huge bailout for Atlantic City in addition.

 

[mdh2003]

...I can't help but think there is Pulitzer Prize level political corruption story just sitting there waiting to be uncovered by some enterprising reporter.

Can I like this a few thousand times?

Unfortunately, we get the penis head and his super useful lists.

I once called Barchi ball-less. Within a week he sprouted some bigguns and knocked us upside the head with them. I'll work my magic here too:

Journalists have no balls. Prove me wrong.

 

[LevaosLectures]

Why anyone would want a casino , especially Bergen county people near the meadowlands is crazy to me.

You get a short economic growth followed by huge property value decreases and high foreclosure rates . Tons of degenerates moving to the area and contributing nothing positive .

On Xanadu (American Dream)- I almost feel they are delaying the build in hopes of the casino bill passing, in which they can easily convert the structure

I'm with you here. I'm not a NIMBYist by nature but gambling seems to bring its own special hell wherever it goes.

I'm happy to be wrong if it ever gets built, but I am ambivalent at best and would be more likely to vote no than yes.

But a damn sports book in AC !

 

[coachkos]

GUYS the problem is NJ dosn't support itself. To many deals going on with north central and south jersey. This is one state not 3 Its not like you have to travel 5 hours to get some place in NJ. Casino's and resorts should be in AC.

 

[bac2therac]

Christiebots are hell-bent on destroying Atlantic City. No, I don't understand it either.

Are you joking? Christie gave AC every chance to turn it around. Some of the responses in this thread against this casino show the lack of knowledge people have on this issue...newsflash..the revenue will keep the horse industry alive and also pump money into AC while keepi g gaming revenue that is going out of state to ny pa and ct.

As for bringing in degenerates that doesnt even make sense

 

[NotInRHouse]

Yet another successful Christie real estate adventure. "Small government" at its finest.

 

[miketd1]

Imagine a Little Amsterdam where the sale and consumption of pot is legal.

I wonder what effect that would have on revenue and crime....

 

[motorb54]

Yet another successful Christie real estate adventure. "Small government" at its finest.

God, you are an ass.

 

[Block R]

Christiebots are hell-bent on destroying Atlantic City. No, I don't understand it either.

Take a look around. Casinos in PA, MD, NY, CT. Atlantic City is destined to fail with or without casinos in NNJ.

 

[Knight Ed]

Why anyone would want a casino , especially Bergen county people near the meadowlands is crazy to me.

You get a short economic growth followed by huge property value decreases and high foreclosure rates . Tons of degenerates moving to the area and contributing nothing positive .

On Xanadu (American Dream)- I almost feel they are delaying the build in hopes of the casino bill passing, in which they can easily convert the structure

No problem with the first part of your post, good points, but there is no way that building is "easily" convert that building into anything. It would actually be cheaper to demo and start over and it's not even close.

 

[Degaz-RU]

Every time the media blows a Rutgers "scandal" out of proportion, or publishes yet another diatribe on the outrageous cost of RU football to New Jersey taxpayers, I automatically think of Xanadon't. I can't help but think there is Pulitzer Prize level political corruption story just sitting there waiting to be uncovered by some enterprising reporter. A multi-billion dollar project that is unwanted by seemingly everyone but our politicians, that seems harder to kill than a thousand year old vampire. Every time it looks like a stake has finally been driven through Xanadon'ts heart, it rises again. Why? Who benefits? And how? I would love to see a New Jersey newspaper take a long, hard look at this, but I won't hold my breath. I expect they are much too busy tallying the fiinancial drain of Rutgers Athletics on New Jrsey's coffers.

Yeah, where are Josh & Ted now when we really need them?

I, too, can only think about this Xanadu/American Dream Disaster when I recall Zoffinger and his political hacks railing against the expansion of Rutgers Stadium. Many people on this board said at the time that Xanadu was going to cost taxpayers infinitely more than an expansion to Rutgers Stadium, and they/we were absolutely RIGHT.

There really needs to be an expose about Xanadu in relation to politicians.

 

[MGSA99]

Just nuke it from orbit. It's the only way to be sure.

 

[RUaMoose]

Every time the media blows a Rutgers "scandal" out of proportion, or publishes yet another diatribe on the outrageous cost of RU football to New Jersey taxpayers, I automatically think of Xanadon't. I can't help but think there is Pulitzer Prize level political corruption story just sitting there waiting to be uncovered by some enterprising reporter. A multi-billion dollar project that is unwanted by seemingly everyone but our politicians, that seems harder to kill than a thousand year old vampire. Every time it looks like a stake has finally been driven through Xanadon'ts heart, it rises again. Why? Who benefits? And how? I would love to see a New Jersey newspaper take a long, hard look at this, but I won't hold my breath. I expect they are much too busy tallying the fiinancial drain of Rutgers Athletics on New Jrsey's coffers.

Well stated. I think those "enterprising reporters" have been paid off in one form or another.

 

[WhiteBus]

Why anyone would want a casino , especially Bergen county people near the meadowlands is crazy to me.

You get a short economic growth followed by huge property value decreases and high foreclosure rates . Tons of degenerates moving to the area and contributing nothing positive .

On Xanadu (American Dream)- I almost feel they are delaying the build in hopes of the casino bill passing, in which they can easily convert the structure

This wins dumbest post of the year. Property values decrease? Short term gain?? Where are you getting that BS???
I live 3 miles from Parx Casino in Bensalem PA. You couldn't be more wrong!

 

[brgRC90]

Maybe it's doomed to fail but I definitely think moving in the direction of entertainment and away from shopping is warranted. New jersey is saturated with shopping. That's why the whole thing has never gotten off the ground. If there was a real strong need for more retail it would've been finished long ago.

 

[hiwater]

Isn't there a vote this year for casinos in north jersey? Hell, sell that place to them.

That is likely in the minds of a lot of powers that be. That's why there is no real information on where the proposed North Jersey Casino would go.

 

[Knight Ed]

Malls are having a hard time all over because of the shift to internet shopping. There is nothing to suggest that this trend will reverse itself. Building an enormous mall in these circumstances is simply bad business.

 

[DJ Spanky]

The only good thing about Xanadu:

 

[srru86]

Yeah, where are Josh & Ted now when we really need them?

I, too, can only think about this Xanadu/American Dream Disaster when I recall Zoffinger and his political hacks railing against the expansion of Rutgers Stadium.

Relative to the Mulcahy/stadium expansion hatchet job the problem is Josh and Ted were just transcribing what was told to them by Zoffinger who had a seat on the BOG at the time. In this case the palms have been greased so no one that knows anything is going to talk. Unless someone in the know gets pinched and needs to make a deal, we'll never get the story.

 

[bac2therac]

That is likely in the minds of a lot of powers that be. That's why there is no real information on where the proposed North Jersey Casino would go.

Its been decided...Jersey City and the Meadowlands

 

[Ridge 22]

Yet another successful Christie real estate adventure. "Small government" at its finest.

You realize this was a McGreevey pet project, correct?

 

[RutgersSam]

Why anyone would want a casino , especially Bergen county people near the meadowlands is crazy to me.

You get a short economic growth followed by huge property value decreases and high foreclosure rates . Tons of degenerates moving to the area and contributing nothing positive .

On Xanadu (American Dream)- I almost feel they are delaying the build in hopes of the casino bill passing, in which they can easily convert the structure

Typically short sighted NJ resident. While other states reap the benefits, these outdated generalizations continue here in NJ. People here need to get out more. MGM is building a billion dollar upscale casino immediately outside DC that is already a major boon to the local economy. People there can't wait for the upscale restaurants, conferences and shopping. Parx casino has created major revenues without any increase in crime. The other PA and MD casinos are now regional destinations. There are hoardes of people that want to have a venue with several high end food options combined with shopping and then top off the night by spending $100 or so gambling. These aren't degenerates, they're everyday Americans.

But in NJ, people believe a neighborhood of "degenerates" will spontaneously pop-up next to the Meadowlands casino. Small time thinking at its best.

 

[ruready07]

Typically short sighted NJ resident. While other states reap the benefits, these outdated generalizations continue here in NJ. People here need to get out more. MGM is building a billion dollar upscale casino immediately outside DC that is already a major boon to the local economy. People there can't wait for the upscale restaurants, conferences and shopping. Parx casino has created major revenues without any increase in crime. The other PA and MD casinos are now regional destinations. There are hoardes of people that want to have a venue with several high end food options combined with shopping and then top off the night by spending $100 or so gambling. These aren't degenerates, they're everyday Americans.

But in NJ, people believe a neighborhood of "degenerates" will spontaneously pop-up next to the Meadowlands casino. Small time thinking at its best.

It's hard to ignore what areas around Atlantic city look like... That's all I'm saying. Gambling centers attract risky characters and risky characters don't make for good neighbors

 

[RUsSKii]

It's hard to ignore what areas around Atlantic city look like... That's all I'm saying. Gambling centers attract risky characters and risky characters to make good for neighbors

I think you're a bit lost in you're reasoning here.
The Atlantic City casinos are not surrounded by degenerate gamblers, but rather some of the worst, most dangerous neighborhoods in the state, which is one of the reasons why it is generally not as attractive as NY/PA casinos. I can tell you that the majority of locals in those neighborhoods aren't there for easy access to gambling..

 

[RutgersSam]

It's hard to ignore what areas around Atlantic city look like... That's all I'm saying. Gambling centers attract risky characters and risky characters to make good for neighbors

I didn't mean to be harsh but the fact that this new casino won't be built represents why NJ can't keep up with the progressive states that surround us. Their residents and politicians are able to critically evaluate an issue. We here fall victim to one dimensional thinking and are susceptible to phony ads that themselves were created by a rival casino company. This is why we can't have any bright, shiny things in this state.