During the June 1st meeting (on Zoom) of Plymouth Township’s Council, The Hanover Company will make a presentation on a proposed residential development at the PREIT owned Plymouth Meeting Mall.
The Hanover Company develops apartment communities in several states on both coasts. It has four properties in the Philadelphia region including two in King of Prussia.
This is not a new topic. In 2014, Korman and PREIT proposed developing its extended-stay brand AVE where there is a vacant building near Whole Foods Market and the movie theater. That proposal was not embraced by Plymouth’s Council and it never went anywhere. In late 2019, PREIT’s CEO was quoted in the media about apartments being in the future of the mall.
Last week PREIT was in the news because of its precarious financial position. PREIT is attempting to sell property on the outer ring of its malls to developers to improve its financial position. These sales will only be completed if the developers, such as The Hanover Company, are able to get the needed zoning relief.
Earlier today, Plymouth Township Council Member Chris Manero posted about the presentation. In part, he wrote:
Redevelopment with creative solutions for mall properties is happening all over the country. In Plymouth Township, we can see that the heyday of traditional malls has long passed us and we have the opportunity to continue bringing that property into the 21st century… however, this involves potential adjustments to zoning and while it could offer economic development, it could also bring increased population and traffic.
According to Manero’s post, the public will be able to watch the Zoom meeting, but not offer public comment. Public comment will be permitted at the next meeting on June 8th.
There is a link on the township’s website with details on how to join the Zoom meeting on June 1st. It starts at 6:00 p.m.
More to come.
Photo: The Hanover Company. This is a photo of its property at the Town Center in King of Prussia. It is not yet known whether this is representative of what it hopes to develop in Plymouth Meeting.