Moorestown Council Makes Move On Mall Redevelopment Plan

MOORESTOWN, NJ — Moorestown Council took the first step Monday night to adopt a redevelopment plan that would see an apartment complex and a hotel come to the Moorestown Mall.

Moorestown Council unanimously approved a proposed ordinance on introduction to adopt the Moorestown Mall Redevelopment Plan at its meeting Monday night. The public hearing and final hearing on the plan will take place at the Aug. 9 meeting. To view the plan, click here.

In January, the Pennsylvania Real Estate Investment Trust (PREIT), which owns the mall, entered into a rezoning agreement to allow a proposed apartment complex and hotel on the property. Up to 1,065 units may be built, with a portion set aside for affordable housing. Read more here: Moorestown Mall Owner Anticipates $150M From Apartment Complex, Hotel

In February, Moorestown Council adopted a resolution to recognize the Moorestown Mall as an area in need of redevelopment, following a recommendation from the township’s planning board.

The designation means tax breaks are available to PREIT and any other entity looking to develop on the site. Read more here: Moorestown Mall Deemed Area In Need Of Redevelopment

The first phase of the redevelopment plan calls for an apartment building that houses 375 units, 75 of which would be set aside for affordable housing in the area formerly occupied by Lord & Taylor's, near the Sears auto center in the back of the property.

It also calls for the construction of a hotel on the property. Read more here: Affordable Housing Complex, Hotel Approved For Moorestown Mall

The plan would help satisfy the township's unmet need of 310 affordable units under the settlement it reached previously with the Fair Share Housing Center. These units would count for the township's fourth round obligation under the Mount Laurel Doctrine.

PREIT has begun to mix retail with an investment in food and entertainment, including Regal Cinemas, Joe Italiano's Maplewood, Hash House A Go Go and The Yard House.

In May, PREIT announced the former Sears would become a Cooper Hospital outpatient location. Read more here: Deal Finalized To Bring Cooper Hospital Facility To Moorestown Mall

The mall recently hosted the state’s COVID-19 Vaccination mega-site in the area where housing would be built. Read more here: COVID-19 Vaccine Site At Moorestown Mall To Close Friday