Kushner Companies has secured $415 million in financing to redevelop New Jersey's Monmouth Mall into Monmouth Square, featuring 1,000 apartments and a Whole Foods Market.
The retail component of the redevelopment is already 82 percent preleased, with amenities designed to enhance community engagement, making it a potential model for future projects.
Kushner has initiated the demolition of vacant stores, transforming the mall into an open-air layout and aiming to reduce its size by 40 percent, from 1.5 million square feet.
The project, which includes a 40,000-square-foot clubhouse and various recreational amenities, is slated for completion in 2028, significantly modifying the landscape of contemporary mall spaces.
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