Camden County closed a $6.2 million deal Thursday to
build apartments on the site of the old Pennsauken Mart on Route 130 in South
Jersey.
The Camden County Improvement Authority said it has
reached a long-anticipated agreement with Delco Development of Willingboro.
The Burlington County builder plans to put a 250-unit
residential site on the property, according to the county. The project will
also include amenities and retail outlets.
In a statement, Pennsauken Mayor John Kneib said he was
"excited to hear of the completed sale of the site." The 35-acre
parcel has been vacant since the Mart was demolished in 2007.
"The Township administration looks forward to
working with Delco Development on the next chapter of this property, which will
play an important role in Pennsauken's future growth," Kneib said.
Delco president Thomas Juliano could not be reached for
comment Thursday. A message left at his office was not immediately returned.
According to the county, the project is expected to
create a significant number of construction jobs as well as permanent jobs in
the commercial section of the project. Additional details were not released
Thursday.
The Camden County Improvement Authority has been
struggling for years to redevelop the Mart site. The former shopping center was
closed in 2006. Today, it sits covered with weeds.
Located at Routes 130 and 73, the Pennsauken Mart was a
popular shopping haunt for bargain shoppers from across the region. Its 120
stores offered a variety of items, from liquor to pets.
The county took over the Mart property in 2003. Three
years later, it labeled it an eyesore and began shutting it down.
Former merchants and customers had long hoped that a
developer would be found to reopen the Mart, which largely fell victim to
competition from malls and other marketplaces. Some vendors set up shop at
local flea markets, but few regained the same traction.
Other plans that never materialized called for building a
minor-league ice hockey rink and conference center on the site or building
condos and townhouses.
Because of the delays, the state Casino Reinvestment
Development Authority has had to reauthorize the project, which originally had
a 2012 completion deadline. The CRDA initially put up a $24 million grant for
the project. It was reduced to $12.5 million.
In a statement, the county blamed the setbacks on a
sluggish county and environmental cleanup on the site.
The county said it plans to return $3.1 million to the
CRDA from the sale of the property to Delco Development for use in Atlantic
City. Camden County will keep $3.1 million.
"It has been a long process and we want to thank
CRDA for sticking with our vision of the property and their commitment to the
project," the county said.
Source: Philly.com
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