Reimagining the Modern Mall: PREIT Continues to Transform Properties

22 November, 2024

 

PREIT (Pennsylvania Real Estate Investment Trust) is progressing with plans to transform its mall properties into experiential, mixed-use community hubs.

At Moorestown Mall, Bel Canto Asset Growth Fund is preparing to start vertical construction on 375 residential units early next year, with completion anticipated by mid-2026. This residential project, along with Cooper University Health Care’s outpatient center, shopping, dining, and a family entertainment center, aims to reimagine the mall as a “community-centric neighborhood hub.” Bohler’s South Jersey team supported the plans with site civil engineering design and permitting services to obtain the necessary approvals.

A similar transformation is taking place at Plymouth Meeting Mall, where PREIT has received approval to construct 275 residential units on the mall property, along with plans to add more entertainment and dining options while decreasing traditional retail space. Bohler’s Southeastern Pennsylvania team reimagined the existing three-story Macy’s building, creatively reallocating leasable space and reducing parking demand while keeping the existing parking ratios intact. This design approach allowed Bohler to secure a “waiver of land development,” expediting the approval process compared to a standard land development application. As a result, the team obtained redevelopment approvals more quickly than is typically possible in the area.

Rendering of the Plymouth Meeting, PA mall

 

In a recent Philadelphia Business Journal article, PREIT CEO Jared Chupaila highlighted the developer’s shift from the traditional mall model, focusing on revitalizing its 17 properties with a blend of residential, medical, and entertainment spaces to ensure future viability and financial health. This aligns with trends among leading retailers nationwide.


See related: OUTSIDE THE [BIG] BOX tips for filling empty retail space

For shopping centers aiming to boost retail foot traffic, converting parking spaces into other uses requires both expertise and innovation, making an experienced design firm invaluable for landlords, leasing teams, and developers. By anticipating challenges, providing solutions, and working within (and, when needed, beyond) project boundaries without causing delays, your design team becomes a vital ally, guiding your project smoothly, minimizing setbacks, and protecting your investment.

“At Bohler, we make the site planning process as easy as possible for owners or developers,” says Bohler Associate John Alejnikov. “Your design team should do the same, providing comprehensive details for your proposed addition or redevelopment, including the impact on grading, earthwork, utilities, and stormwater management.”

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