Wednesday, July 30, 2014

The Gallery is getting $107M Redevelopment

Joseph DiStefano, Staff writer at Philadelphia Inquirer

California-based Macerich Co., which owns 55 U.S. shopping centers including the Deptford Mall, will invest $106.8 million in a joint venture to redevelop the Gallery at Market East and offer "accessible luxury retailing" there, Pennsylvania Real Estate Investment Trust, owner of the 1.4 million-square-foot Center City shopping complex, said Tuesday.

Century 21, a New York fashion chain, is remodeling space in the former Strawbridge & Clothier flagship store at the east end of the Gallery at Eighth and Market Streets, with an October opening planned that PREIT has said will help anchor the mall's renovation.

The Gallery location will be Century 21's first outside metropolitan New York City, where it has eight stores. The chain offers discounted designer clothing, housewares, cosmetics, shoes, luggage, and more.

Kmart shut its Gallery store earlier this year, making another two-story space available at the mall's 10th Street side.

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