Establishing a town center for an extremely affluent, no-growth suburban township, this project resulted from a long-term, collaborative rezoning of an antiquated community-based shopping center.
The developed town center format emphasizes lifestyle retailers and doubled the net leasable space of the existing center to 195,000 SF, and added 20 middle-income residential units. The new anchor lease also includes a 78,000 SF Stop & Shop grocer.
±195,000 SF of Retail
20 Residential Units
$90 Million Value
The final project is 100% complete with a market value of approximately $90 million, or four times the pre-development valuation.