American Dream Mall to reopen on October 1

American Dream Mall was poised to be one of the greatest mall projects the United States has seen in years. The massive complex sounded more like an amusement park than a retail location with plans for an indoor water park and a multi-level food court. Unfortunately, the mall's original March opening was brought to a screeching halt by the coronavirus pandemic.

Now, the American Dream Mall is set to open on October 1. The 3 million square feet of space, which is owned by Triple Five Group, will finally see stores like Zara, American Eagle, and Old Navy open to the public.

Everything isn't coming up roses for the American Dream Mall just because it's opening, however. The store has lost multiple tenants since its original planned opening, including Barneys New York (R.I.P.), Lord & Taylor, and GNC. The mall has also delayed plans to open its luxury wing, where Hermès was confirmed as a tenant.

Foot traffic in retail stores is down as there is minimal tourism and local consumers are still hesitant to shop in stores. Triple Five Group was thrown into financial peril by the mall's delayed opening and as of July they had missed three consecutive mortgage payments. Hopefully the reopening will bring them out of financial peril.