Saks Fifth Avenue also plans to open a store in American Dream sometime next spring, though it’s not clear precisely when.
Last July, American Dream issued a statement on the retail schedule, indicating, “Stores will be opening and over the coming weeks we’ll provide further insights into the property, its attractions and tenants, and the exciting plans and events surrounding the opening and beyond. We’ll be coordinating with our tenants regarding opening announcements.”
Don Ghermezian, president of American Dream, recently told WWD that he anticipates luxury retail will do sales “north of $2,000 per square foot, and the center itself, well in excess of $1,500 per square foot. We’ve positioned American Dream to become the highest-grossing center in North America, given its proximity to New York City. The center was built to drive traffic and generate sales.”
According to sources, delays in getting some of the required permits set some retail opening dates back, though that’s not surprising given American Dream’s long and tortured journey to completion that involved a succession of banks, architects, designers, tenants and developers.
American Dream is owned by the Canadian conglomerate Triple Five, which owns and operates the two largest shopping centers in North America — West Edmonton Mall and Mall of America in Bloomington, Minn. Both feature major entertainment components, as will American Dream, including a Nickelodeon Universe indoor theme park with two roller coasters, a DreamWorks Water Park, a Big Snow Ski and Snowboard Park, an ice skating rink and Angry Birds Miniature Golf.