Giants, Jets, developer reach pact on NJ megamall

NEWARK -- New Jersey's two pro football teams and a developer have settled dueling lawsuits, clearing the way for a long-delayed megamall project at the Meadowlands sports complex.

The Giants, Jets and developer Triple Five Inc. released a statement yesterday that confirmed the settlement, but neither side provided specific details.

Originally known as Xanadu and scheduled to open in 2007, the project languished during the economic downturn before Triple Five, whose properties include the Mall of America in Minnesota, took over at the end of 2010.

The immense, pastel-hued structure, once called "the ugliest damn building in New Jersey" by Gov. Chris Christie, has sat unfinished between MetLife Stadium and the New Jersey Turnpike for several years.

Triple Five's new vision, dubbed American Dream, is to include a water park and Hollywood-themed amusement park in addition to dining and retail.

The Jets and Giants sued the developer in 2012, claiming Triple Five didn't get their permission -- as required under an earlier agreement -- to expand the footprint for the mall from its original design. They sought to have the mall closed on game days to avoid traffic backups.

Triple Five countersued, accusing the teams of engaging in an illegal campaign to stop the project from being completed.

Details of the settlement remain confidential. Triple Five spokesman Alan Marcus said construction has been underway at the site since November and that it would pick up once the weather improved. The developer hasn't said when the project is expected to be completed. -- AP