Wednesday, October 9, 2019

Cedar Realty Begins Construction on Fishtown Crossing Shopping Center

by John Jordan
Cedar Realty Trust, Inc. commenced construction last week on the redevelopment of the former Port Richmond Village shopping center here.

The redevelopment of the shopping center, now known as “Fishtown Crossing,” will create approximately 18,000 square feet of new retail space. The property in Northeast Philadelphia is anchored by IGA Supermarket and when construction is complete will also feature a number of new amenity upgrades that will create public spaces that Port Washington, NY-based Cedar Realty Trust  says it hopes will foster an inviting atmosphere for shoppers and visitors.
The shopping center will soon welcome Starbucks and Nifty Fifty’s. Fishtown Crossing is currently home to approximately 20 shops, including IGA, GNC, Kicks USA, Slack’s Hoagie Shack and Rita’s Water Ice, in addition to a tenant mix that includes beauty and health, clothing, professional services and discount retailers.

The redevelopment is expected to add a mix of fast casual and sit-down restaurants,  along with the creation of outdoor seating areas and landscaped common areas, Cedar Realty Trust officials say.
A groundbreaking for the project was held on Oct. 3. A host of dignitaries including State Senator Lawrence M. Farnese, Council Member Mark Squilla, State Representative Mary Isaacson and State Representative Joseph Hohanstein were on hand. Cedar Realty Trust president and CEO Bruce Schanzer, EVP and COO Robin Zeigler and SVP of development and construction Michael Sommer also attended the event.

“As Fishtown and Port Richmond continue to thrive, we’re creating a destination for a diverse mix of shopping and dining that harnesses the energy of these neighborhoods,” Schanzer said. “Along with the addition of new retailers, this property is getting a full facelift, while adding new public gathering spaces that reflect the growing preference for a unique, walkable retail experience.”

The property is the first of several redevelopment initiatives being undertaken by Cedar Realty Trust in Philadelphia. In South Philadelphia, the company is leading the South Quarter Crossing redevelopment, which will initiate substantial improvements to the Quartermaster Plaza and South Philadelphia Shopping Center. In addition to the enhancement of the retail structures onsite, South Quarter Crossing will include the addition of 270 apartments, along with a wide range of improvements to the surrounding pedestrian walkways.
Cedar Realty Trust is the owner and operator of grocery-anchored shopping centers from Washington, DC to Boston. The company’s portfolio comprises 57 properties totaling approximately 8.6 million square feet of gross leasable area.

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