The American Dream Megamall Reopens | Financial Buzz

The American Dream Megamall Reopens

The American Dream Mall has finally reopened including its indoor amusement park, water park, ice rink and mini-golf arcade. Though many of the stores, attractions and restaurants remain closed, several are back in business. 

In order to ensure health protocols, the theme park as well as the water park will be at 25% capacity and there will be hand sanitizing stations throughout the location. 

“Early online ticket sales have been very encouraging,” said Ken Downing, American Dream’s chief creative officer. “We have a very enthusiastic community and people who really love what this property is about. Between the DMs on our Instagram, messages we get on our Facebook page, and certainly ticket sales, people are excited about us opening.”

The mega retail center, which has been closed since march, is opening attractions such as an NHL regulation-size ice rink, an indoor ski slope and an Angry Birds-branded mini golf course. Retailers such as Zara, Lush, Primark, Aritzia and American Eagle will also be open for business.

With the ongoing global coronavirus pandemic, the retail industry has experienced a downturn, many have even fallen into bankruptcy affecting thousands of jobs. It’Sugar, a candy store in the mall, was forced to file for bankruptcy just last month.

The mall itself has battled to pay bills throughout the pandemic. Recently the value of the mall decreased to USD1.94 Billion from USD2.3 Billion, according to Trepp, a New York-based research firm that tracks the commercial mortgage-backed securities market.

A spokeswoman for the mall said “We are making positive progress with our lenders, and reopening American Dream is another step forward.”