The Monmouth Mall in Eatontown — one of the largest malls in the state — is preparing for demolition crews to start transforming it into an open-air “live, work and play” space called Monmouth Square.
Plans to transform the mall were first presented to Eatontown officials in the summer 2022. The planning board approved the developer’s site plan in December, according to meeting minutes. And in January, the company announced it would get demolition crews in by early spring and start construction later this year.
The rebranded Monmouth Square will lose much of the mall’s roof and the space will undergo a “de-malling” to make the shops and restaurants open to the outside air. The developer also plans to demolish part of the mall to add 1,000 luxury apartments to the site.
An overhaul of the mall was supported by local officials, who previously declared it an area in need of redevelopment. The once-busy shopping destination went from having 90% business capacity in 2018 to 62% capacity in 2022, according to its owners.
“I know the redevelopment of the mall has been controversial at times,” Eatontown Mayor Anthony Talerico Jr. wrote in a statement posted to Facebook in December. “I certainly respect the emotion and deep rooted concern many have shared. I hope this approval provides relief that something is finally happening at the mall.”
New York-based real estate developer Kushner Companies, the mall’s owner, is demolishing the vacant JCPenney and Lord & Taylor stores. That will make way for the construction of 1,000 new apartments, including 125 affordable units, according to site plans. Demolition will begin next month.
Kushner Companies acquired the mall in 2022 with the goal of turning it into a “town center environment,” according to its website.
The reimagined Monmouth Square will be an open air shopping center with a mix of shopping, restaurants and apartments.Kushner Companies
Both JCPenney and Lord & Taylor were once anchors at the…
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