Unibail-Rodamco-Westfield (URW), a shopping centre owner-operator based in France, has unveiled plans to redevelop Westfield Garden State Plaza, a 2.1 million square foot regional mall in the Northern New Jersey community of Paramus.
According to Forbes, Westfield Garden State Plaza remains one of the best-performing regional malls in the country. But about 10 years ago, URW began planning a long-term redevelopment to distinguish the property from and compete with American Dream, Triple Five Group’s entertainment-heavy mega-mall that is located within the Meadowlands sports complex in nearby East Rutherford.
To that end, URW Executive Vice President Geoff Mason says that the redevelopment is about transitioning the mall into a mixed-use destination where living, working and leisure all come together.
The first phase of the redevelopment will centre on the construction of 550 luxury apartments that will be integrated with the existing shopping and dining establishments via open green space. Phase I will also introduce a “main street’ outdoor district featuring restaurants and everyday convenience- and services-oriented retailers.
Ownership also plans to upgrade the existing infrastructure that connects to public transit services. Construction is scheduled to begin in 2024, with the first residential units becoming available for occupancy in 2026. The development team has tapped national developer Mill Creek Residential to lead the multifamily phase of the redevelopment.
“Our vision for Westfield Garden State Plaza is about transforming the shopping center into a true town center where the local community can come together to live, shop, work and play,” says Mason. “Our partnership with Mill Creek Residential will help bring this vision to life by leveraging the firm’s incredible experience and best-in-class approach to create a landmark destination for the community.”
