'American Dream' says it will open with Lord & Taylor, Sak's

A long delayed megamall in northern New Jersey has announced agreements with several major national retailers for its scheduled summer 2017 opening.

American Dream under construction several years ago. The megamall says it will open with Lord & Taylor and Sak's.

American Dream under construction several years ago. The megamall says it will open with Lord & Taylor and Sak's. (9/11/15)

EAST RUTHERFORD - A long delayed megamall in northern New Jersey has announced agreements with several major national retailers for its scheduled summer 2017 opening.

The American Dream Meadowlands announced Friday that Lord & Taylor and Saks Fifth Avenue will open at the mall.

The sprawling project originally known as Xanadu has been in the planning process since the early 2000s and has faced various delays and financing problems.

Triple Five, the project's developer, plans to invest $2.5 billion in the site, $800 million of which will be raised through bond issuances.

The state approved up to $390 million in tax breaks for the project last month.

Saks will also open an outlet store there.

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