EAST RUTHERFORD -- Billionaire Steve Ross of Related Cos. has dropped the "Xanadu" name from the $2 billion entertainment and retail project and rebranded the development as simply "Meadowlands," according to a report by NorthJersey.com. Ross is expected to announce that he has gained $500 million to $700 million in new investment, said the report. The Meadowlands Xanadu project...
Aerial photo the demolition of Giants Stadium next door to the new Meadowlands Stadium and Xanadu Complex.
EAST RUTHERFORD -- Billionaire Steve Ross of Related Cos. has dropped the "Xanadu" name from the $2 billion entertainment and retail project and rebranded the development as simply "Meadowlands," according to a report by NorthJersey.com.
Ross is expected to announce that he has gained $500 million to $700 million in new investment, said the report. The Meadowlands Xanadu project has been stalled for months after funding issues forced work on the 2.3 million-square-foot project to be halted.
| Ledger Live: Meadowlands Xanadu - A boon or boondoggle? |
Previous Coverage:
• Full coverage of the Meadowlands Xanadu project
• Cabelas says it won't open in Meadowlands Xanadu unless there is an 'unbelievable opportunity'
• Bergen challenges Gov. Chris Christie's assertion Xanadu could open on Sundays
• Major Xanadu tenant has out clause if mall doesn't open by fall, report says
• Xanadu may get different name if $500M funding deal is set, report says