New Jersey Retail

Mixed-use is the new mall. Case in point: New Jersey s new Riverton project Scrapped plans for a New Jersey mega-mall proves it

(Pixabay, back; Wikimedia Commons, front)

What was supposed to be a 2.2 million-squar上海龙凤论坛sh1f

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e-foot mall with enough digital signage to compete with Times Square in Sayreville, New Jersey is now, pen上海千花社区

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ding approvals and securing financing, going to be mixed-use waterfront pedestrian zone called Riverton.

The change of direction for the $2.5 billion project came from a new partner, North American Properties, which convinced the team to rethink its mega-mall concept, according to the Wall Street Journal.

“We can no longer just lease space to retailers who just sell上海贵族宝贝论坛

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stuff. They will fail and we will fail,” said the new partner s Mark Tor上海同城对对碰交友社区

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o.

Instead, North American Properties convinced its partners to follow the lessons learned from one of their recent developments in Alphareta, Ga., which opened this year.

The mixed-use project in an Atlanta suburb had both residential and public elements, such as an amphitheater and fire pits with home-like furnishings, but what made the project stand out was the amount of programming the company did. The Alphareta project hosted recreational events and entertainment, such as concerts and yoga classes, on a regular basis.

“We’ve got to be able to provide an experience for our guests to get them to come to the property,” said Toro. Riverton is expected 上海贵族宝贝论坛

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to be completed in 2021.

[WSJ] E.K. Hudson

Tags: big box retail, Retail Real Estate
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