eye-3-yellow-3d-2-new-logo philly_kyw_new philly_94wip_new 35h_cbssportsrad_philly philly_wpht_new

Local

Shopping Mall Developers Planning Major Redo For Philadelphia’s Gallery

(The main entrance to the Gallery, at Ninth and Market Streets.  File photo by KYW's Ian Bush)

(The main entrance to the Gallery, at Ninth and Market Streets. File photo by KYW’s Ian Bush)

Pat Loeb Pat Loeb
Pat Loeb's radio experience has the makings of a country song: s...
Read More

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

By Pat Loeb

PHILADELPHIA (CBS) — Look for big changes at the Gallery shopping mall, in center city Philadelphia.  The owners have attracted a partner to redo the aging downtown mall.

When suburban malls began bleeding urban retailers, city developers fought fire with fire.

“They took the model of a suburban shopping center, where you don’t walk along the street, look at windows, and make an impulse decision,” notes  Center City District president Paul Levy.

He says the Gallery was pathbreaking at the time it opened, in 1977, but resulted in blank walls along four city blocks.  So, the Pennsylvania Real Estate Investment Trust (“PREIT”), which owns the property, wants a renovation, “essentially turning the project inside out, so it would be animating the street. There would be ground floor retail and restaurants.”

That takes huge investment, which is why an essential step was attracting a partner — in this case, California-based Macerich, “who has a tremendous amount of experience both in retail as well as mixed-use development,” says Levy.  “It’s a very potent combination that’s very good for the city.”

 

 

Follow

Get every new post delivered to your Inbox.

Join 32,017 other followers