Housing, retail planned for Pennsauken Mart site
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.
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.
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