Cherry Hill, Evesham/Marlton, Medford, Medford Lakes, Moorestown, Mount Laurel, Voorhees and elsewhere near the iconic state highways of Routes 70 and 73.
An artist's depiction of an aerial view showing the scope of the project.
Developer's application to the Moorestown Planning Board
Approval of the final site plan for 375 apartments, including 75 affordable units, at a corner of the Moorestown Mall property is scheduled to go before the Planning Board on February 17.
The developer's preliminary site plan was approved by the board at its December 2 meeting.
Last Thursday, board members voted 9-0 in favor of Cooper University Health Care constructing its largest ambulatory center to date in the old Sears department store building at the mall.
A rendering of one of the apartment buildings.
Developer's application to the Moorestown Planning Board
Bel Canto Asset Growth Fund LLC, which develops and manages multifamily projects and is based in Plymouth Meeting, Pennsylvania, is the applicant for the apartment building.Â
The Pearl apartment complex on 6.24 acres at the southeast corner of the mall property, near Nixon Drive, is expected to be completed in 2023, according to Bel Canto documents filed with the Township. The plan includes a five-story parking garage connected to the apartment buildings.
An existing sewerage pumping station on Route 38 does not have the capacity to handle flow from the apartments and the developer has agreed to make improvements at the station.
The multifamily project would abut Nixon Drive, near the Harper Drive intersection and would occupy space now used for mall parking.
A redevelopment plan for the mall was adopted by the Township Council in August and a financial agreement that includes a 30-year tax exemption for the completed 375-unit apartment project was adopted by the Council on October 25. In lieu of property taxes, the agreement requires a service charge based on 12.5% of the development's gross revenue payable every year over the life of the 30-year agreement.
