Dormant for years, the segment of the Meadowlands that holds the once-proposed Xanadu and the now-proposed American Dream project will see some action.

American Dream project (Tim Larsen, Governor's Office)

An agreement has been reached among the developer, the New Jersey Sports and Exposition Authority, and the Giants and Jets, according to the Christie Administration, which means construction on the retail and entertainment destination can resume immediately.

Features of the project beyond retail and dining include an enclosed amusement park, a performing arts theater, and the only indoor ski facility in the country.

The agreement also calls for mass transit and traffic improvements in the area.

“This project will bring thousands of construction jobs and full-time employment to the Meadowlands, and be an engine of economic growth for the entire region," said Gov. Christie in an emailed press release. "Once it’s completed and has opened its doors, American Dream will be a dynamic world-class tourist destination for years to come."