A concept plan of what the former mall would look like in the future.
When George Vallone bought the former Liberty Village Outlet Mall in Flemington, New Jersey, from the Namdar Realty Group to demolish and turn into townhouses, he asked Namdar if it had any similar properties that could be reinvented.
Yes, he was told, take a look at the troubled former Echelon Mall, a 55-year-old property renamed Voorhees Town Center where few retailers remained and Voorhees Township had moved its municipal offices.
Vallone and his firm, Hoboken Brownstone Company, added the Voorhees Town Center to their projects. Unlike the Flemington development that is composed only of residences, the Voorhees project will be a blend of residences and retail space.
Plans for the property at Burnt Mill and Somerdale roads show townhouses and apartments filling the mall's parking lots, a five-story parking garage holding up to 1,500 cars and a special parking lot for the municipal office space, which is owned by the Township and will remain.
George Vallone, who founded the Hoboken Brownstone Company in 1980.
The angst on social media over the future of Boscov's department store is needless as far as Hoboken Brownstone is concerned: That space is owned by Boscov's and the only connection to the new mall will be a physical one, Vallone told 70and73.com in an interview.
"They're going to be exactly as they are," Vallone said.
Hoboken's project in Voorhees will include 158 market-rate, three-story townhouses and 49 market-rate two-story townhouses.
Most of the affordable units will be built on the northwest corner of the property, near the Burnt Mill and Somerdale roads intersection. The affordable housing, which will help fulfil the Township's obligation for those units, includes 50 stacked townhouses (two stories) for sale and 60 affordable rental apartments evenly divided into three buildings.Â
Vallone would not disclose the purchase price for the property or the value of the full project.Â
While the project largely will be equity financed, Hoboken Brownstone will seek $90 million in New Jersey Economic Development Authority Aspire tax credit grants to build the parking garage and to catch up on deferred maintenance in the mall building, Vallone said.
If Hoboken Brownstone can get the tax credits committed in the next 90 days, Vallone expects to break ground in the next 18 months.
Space under the municipal offices will be donated to the Township for community activities, he said.
"We're going to be looking for a supermarket" to anchor the remaining retail space in the mall, Vallone said.
He would like to add one or two high-end restaurants, entertainment retail such as indoor golf and ax throwing, the possibility of including a satellite campus for local colleges and medical space.Â
When adding entertainment retail, Hoboken Brownstone will look for ways for families to go to the mall "so there would be fun stuff for the kids to do and fun stuff for adults to do at the same time."
The new design of the mall still will need to go through the standard Township approval process.
The mall's rebirth is part of a redevelopment agreement with Hoboken Brownstone approved by the Voorhees Township Committee at its October 27 meeting.
"For decades, the Echelon Mall was the heartbeat of our community — a place where families gathered, friendships were built, and memories were made," Voorhees Mayor Michael Mignogna said in a statement with the Township announcement. "While it has stood silent for too long, this redevelopment gives us the opportunity to bring that heartbeat back."
Previous coverage by 70and73.com:
How an immense redo of the former Echelon Mall will bring more than 300 new homes to Voorhees.
