Granite Run Mall

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Granite Run Mall
Location Middletown Township, Delaware County, Pennsylvania
Coordinates 39°54′59″N 75°25′58″W / 39.916433°N 75.432720°W / 39.916433; -75.432720Coordinates: 39°54′59″N 75°25′58″W / 39.916433°N 75.432720°W / 39.916433; -75.432720
Opening date 1974[1]
Developer The Goodman Company
Management Madison Marquette
Owner BET Investments
Total retail floor area 1,033,000 square feet (96,000 m2)[1]
No. of floors 2
Parking Lighted lot
Website www.shopgraniterunmall.com

The Granite Run Mall is a double-level shopping mall located on U.S. Route 1 in Middletown Township, Delaware County, Pennsylvania, a western suburb of Philadelphia.

History[edit]

The Granite Run Mall opened in 1974.[1] In 1986, the Gimbels store was converted to Sterns after Allied Stores purchased seven Gimbels locations in the Philadelphia area.[2] In 1989, Stern's closed; it was replaced with Boscov's in 1993.[3] In 1998, Simon Property Group and Macerich purchased the mall, with Simon responsible for managing the mall. In recent times, the Granite Run Mall has seen an increase in vacancies and interest was shown in selling the mall. In February 2011, Simon and Macerich were over 30 days delinquent on the mall's $115 million mortgage, leading to the possibility of a sale or forfeiture of the mall.[4] On April 1, 2011, Madison Marquette acquired the Granite Run Mall from Simon Property Group.[5] Following the acquisition, Madison Marquette announced plans to improve lighting, the parking lots, and sidewalks as well as to fill vacancies.[6]

On September 23, 2013, the Granite Run Mall was sold to BET Investments, a real estate development firm, at a cost of $24 million.[7] BET Investments intends to convert the mall into a mixed-use development consisting of residential, retail, and entertainment.[7][8] The initial plans for the redevelopment project would keep the three anchor stores but would demolish the remainder of the mall and replace it with an outdoor shopping and dining area. The plans also included the construction two four-story apartment buildings with a total of 365 units between them.[9] Other features that were planned in the redevelopment included a larger movie theater and standalone restaurants.[8] On August 25, 2014, updated plans were revealed for the redevelopment. The three department stores would remain, with the upper level of J.C. Penney becoming a movie theater, while the interior of the mall will be demolished and turned into an outdoor shopping and dining area with upscale establishments. One four-story luxury apartment building with 385 units will also be constructed. Work on the redevelopment is expected to begin in 2015 or 2016 with completion expected two years after the project begins.[10] The plans were modified again on October 27, 2014 in which two luxury apartments with a total of 388 units would be constructed, one on the site of the movie theater and the other on the site of a former Chi-Chi's restaurant.[11] The redevelopment will take place in two phases. The first phase will demolish the mall interior and build one of the apartment buildings. The second phase will demolish the current movie theater and construct the other apartment building.[12]

Anchors[edit]

References[edit]

  1. ^ a b c "Granite Run Mall Fact Sheet". Simon Property Group. Retrieved October 14, 2010. 
  2. ^ Bivens, Terry (June 18, 1986). "Gimbels To Sell 7 Area Stores Deal Concluded With N.y. Firm". The Philadelphia Inquirer. Retrieved November 30, 2011. 
  3. ^ "Boscov's opens store at Granite Run Mall". Reading Eagle. August 16, 1993. Retrieved April 17, 2011. 
  4. ^ Logue, Timothy (February 18, 2011). "Granite Run Mall running on empty?". Delaware County Daily Times. Retrieved April 4, 2011. 
  5. ^ "MADISON MARQUETTE ASSUMES OPERATING CONTROL OF GRANITE RUN MALL". Madison Marquette. April 1, 2011. Retrieved April 3, 2011. 
  6. ^ Carey, Kathleen E. (April 3, 2011). "New management plans changes at Granite Run Mall". Delaware County Daily Times. Retrieved April 4, 2011. 
  7. ^ a b Sullivan, Vince (September 23, 2013). "Granite Run mall sold to group owned by Bruce Toll". Delaware County Daily Times. Retrieved November 5, 2013. 
  8. ^ a b Sullivan, Vince (September 26, 2013). "Granite Run's new owner has big plans for Delaware County mall". The Mercury. Retrieved November 5, 2013. 
  9. ^ Alburger, Bette (November 4, 2013). "Granite Run plan: Save 3 anchor stores, demolish rest of mall". Delaware County Daily Times. Retrieved November 5, 2013. 
  10. ^ Alburger, Bette (August 26, 2014). "Firm offers update on Granite Run Mall plans". Delaware County Daily Times. Retrieved September 15, 2014. 
  11. ^ Alburger, Bette (October 28, 2014). "Developer outlines revised plan for Granite Run Mall site". Delaware County Daily Times. Retrieved December 9, 2014. 
  12. ^ Alburger, Bette (November 26, 2014). "Granite Run Mall developers describe project’s timetable". Delaware County Daily Times. Retrieved December 9, 2014. 

External links[edit]