Kushner has secured $415 million in construction financing for its landmark plan to transform the Monmouth Mall with a downsized, open-air retail footprint and the addition of 1,000 apartments and new commercial and community spaces.
Plans to revamp mall parcels with new apartments, public space taking shape across New Jersey
Redevelopment is coming to some of New Jersey’s largest malls, as owners and local officials weigh plans to add apartments, health care facilities and vibrant public spaces meant to infuse them with new foot traffic. Proponents say the projects are essential to the long-term health of even the most successful assets. In other cases, they’re a potential lifeline to once-dominant shopping hubs that have become obsolete and seen their values plummet in recent years.