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November 28, 2010
A New Push to Rescue Xanadu Mall Project
The New York Times
By Charles V. Bagli
This article is about the hurdles faced by attempts to resume the stalled construction of Xanadu, a retail and entertainment mall in New Jersey.
Noted is the difficult faced by Forest City in finding tenants for the Ridge Hill project being constructed.
The retail environment is particularly challenging. In nearby Yonkers, Forest City Ratner has leased only 35 percent of its 1.2-million-square-foot retail and entertainment complex at Ridge Hill, while another developer, O’Neil Properties Group, is marketing its recreation and retail project 30 minutes south of Manhattan in Sayreville, N.J.
NoLandGrab: A A list of tenants on the Ridge Hill web site confirms that there's not so much demand for new retail space lately.
Posted by steve at November 28, 2010 9:42 AM