Bala Cynwyd Shopping Center Owner Plans to Transform Property Into Mixed-Use Development

Image via Federal Realty Investment Trust.
Bala Cynwyd Shopping Center.

Federal Realty Investment Trust has big plans for several of its properties, including Bala Cynwyd Shopping Center, writes Natalie Kostelni for the Philadelphia Business Journal.

It plans to transform the property into a mixed-use development over the next few years, this will move it beyond its retail roots towards an urban environment that will be better suited for the densely populated suburban community.

The company is planning to implement the same strategy it has already executed at its other retail properties around the country. There, Federal Realty has added apartments and offices to retail spaces, all of which have been organized around new roads and newly configured rigs.

Also, the company will add a mix of uses, open spaces, paths, and public gathering areas to create more of a community and not just as a shopping destination.

“We’re taking traditional strip retail and turning it into more of an urban environment,” said John Tschiderer, senior vice president at Federal Realty.

Federal Realty is also planning to make upgrades on a smaller scale to several of its other properties in the region, including the Willow Grove Shopping Center.

Read more about Federal Realty Investment Trust’s plans at the Philadelphia Business Journal by clicking here.