Uncompleted New Jersey mall gets new life from US$600m bond sale
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Philadelphia
NEW Jersey's American Dream entertainment and shopping centre, the incomplete mega mall that governor Chris Christie once called "the ugliest damn building" in the state, is poised for a jumpstart from the municipal bond market.
A decade after ground was broken for the project in New Jersey's Meadowlands Sports Complex, proceeds from about US$600 million of bonds could fund construction, according to East Rutherford Mayor James Cassella. The debt would be issued on behalf of Triple Five Group, which took over the project after previous developers ran out of cash and the financial crisis stymied funding.
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